SenzaGen (SENZA) Q4 2024 earnings summary

Executive summary

• GARD® sales grew 53% to nearly SEK 40 million, driving group revenue up 16% to SEK 58 million year-over-year.

• EBITDA loss halved to SEK -5.6 million from SEK -10.9 million, reflecting strong cost control and operational improvements.

• Cash position strengthened to SEK 39.6 million, supported by a SEK 37.2 million directed share issue.

• VitroScreen subsidiary experienced a management transition, with measures in place to restore growth in 2025.

• No dividend proposed for 2024; focus remains on reinvestment and growth initiatives.

Financial highlights

• Full-year net sales: SEK 57.7 million (up 16% year-over-year); Q4 net sales: SEK 15.5 million (down 5% from Q4 2023).

• GARD® Q4 sales up 41% year-over-year to SEK 10.9 million; full-year GARD® sales SEK 38.8 million.

• Gross margin for 2024 was 67% (down from 70% in 2023); Q4 gross margin 56% (down from 74%).

• Operating expenses for 2024: SEK 60.6 million; Q4: SEK 13.6 million (down 20% year-over-year).

• Earnings per share: SEK -0.65 (2023: -0.91); Q4 EPS: SEK -0.16 (2023: -0.20).

Outlook and guidance

• Entering 2025 with strong cash reserves, high demand, and ongoing investments in sales and product development.

• VitroScreen expected to return to growth in 2025 following management changes and new hires.

• Continued focus on expanding regulatory test portfolio and adapting products to new standards (OECD, ISO 10993).