Scibase (SCIB) Q2 2026 earnings summary

Executive summary

• Net sales reached SEK 15.3 million in Q2 2026, up 74% year-over-year, and SEK 29.6 million for H1 2026, up 68% year-over-year, driven by strong US and Germany growth and expanded Castle Biosciences collaboration.

• Electrode sales volume surged 118% in Q2 and 95% in H1, with repeat sales up 75% and 74% respectively.

• Gross margin declined to 52.6% in Q2 and 51.0% in H1, impacted by currency effects, low-margin Castle deliveries, higher gold prices, and production ramp-up.

• Operating loss increased to SEK 28.8 million in Q2 and SEK 53.3 million in H1, mainly due to higher sales and marketing expenses, especially in the US.

• Cash flow from operations was negative SEK 33.1 million in Q2 and SEK 59.7 million in H1; cash at period end was SEK 37.2 million.

Financial highlights

• Q2 net sales: SEK 15.3m (Q2 2025: SEK 8.8m), +74% (+84% currency adjusted).

• H1 net sales: SEK 29.6m (H1 2025: SEK 17.6m), +68% (+79% currency adjusted).

• Q2 gross margin: 52.6% (Q2 2025: 66.2%); H1 gross margin: 51.0% (H1 2025: 68.4%).

• Q2 loss after tax: SEK -28.9m (Q2 2025: SEK -22.9m); H1 loss after tax: SEK -53.4m (H1 2025: SEK -43.6m).

• Q2 EPS: SEK -2.83 (Q2 2025: SEK -6.77); H1 EPS: SEK -5.80 (H1 2025: SEK -13.69).

• Cash flow from operations: Q2 SEK -33.1m; H1 SEK -59.7m.

Outlook and guidance

• Continued focus on US market expansion, reimbursement, and new indications for Nevisense.

• Board evaluating options to secure additional financing as current cash is insufficient for the next 12 months.

• Gross margin expected to improve in H2 as production efficiency increases and low-margin Castle deliveries conclude.