Devyser Diagnostics AB publishes Interim Report for the period, January to June 2022

August 24, 2022 08:00

"Devyser reported another quarter of strong organic growth, which again saw record-breaking sales. The gross margin remained high. Both sales and margins have the potential for further improvement as we move forward with the transition from distributor sales to direct sales.

Sales for the quarter amounted to SEK 31 million, equal to 42 percent organic growth compared with the same quarter of last year.”

Fredrik Alpsten, CEO, Devyser

Quarter April-June 2022

  • Net sales amounted to SEK 30.9 million (21.8), corresponding to a 41.5% increase. Adjusted for exchange rate fluctuations, net sales increased by 36.2%.
  • Gross profit totaled SEK 24.7 million (16.2), corresponding to a gross margin of 79.9% (74.0).
  • Operating profit (EBIT) amounted to SEK -12.6 million (-5.5).
  • Profit after tax totaled SEK -14.3 million (-6.2).
  • Earnings per share before and after dilution amounted to SEK -0.90 (-0.55).
  • Cash flow from operating activities stood at SEK -7.9 million (-12.4).

The period from January to June 2022

  • Net sales amounted to SEK 61.3 million (44.6), corresponding to a 37.2% increase. Adjusted for exchange rate fluctuations, net sales increased by 32.4%.
  • Gross profit totaled SEK 49.9 million (34.3), corresponding to a gross margin of 81.4% (77.0).
  • Operating profit (EBIT) amounted to SEK -17.9 million (-4.8).
  • Profit after tax totaled SEK -20.4 million (-6.5).
  • Earnings per share before and after dilution amounted to SEK -1.29 (-0.61).
  • Cash flow from operating activities stood at SEK -15.3 million (-7.4).

Important events during the quarter

Annual General Meeting

At the Annual General Meeting in May, Mia Arnhult, Lars Höckenström, Fredrik Dahl and Pia Gideon were re-elected as Board members. Fredrik Mattsson was elected as a new Board member. Mia Arnhult was re-elected as Chair of the Board.

Breakthrough contract in Canada for non-invasive RHD testing

In June, Devyser won a contract with Héma-Québec, in Québec, Canada, for the non-invasive RHD testing of fetuses. The contract will initially run for three years, starting in 2023, and may potentially be extended for a further two years. The total order value amounts to just over SEK 16 million.

Strengthening of the management team

In June, Theis Kipling was hired as Chief Commercial Officer with global responsibility for sales, marketing, product management and tech support. Theis Kipling has a comprehensive commercial background in the global life sciences sector, and experience working specifically for diagnostics companies.

New share issues

In April, a new share issue totaling 62,400 shares was carried out in connection with the exercising of warrants. This raised SEK 1.2 million for the company.

Important events after the end of the quarter

In September, Camilla Wiberg takes up the position of CHRO (Chief Human Resources Officer). Following Camilla Wiberg’s appointment, Devyser’s senior management consists of CEO Fredrik Alpsten, CFO Sabina Berlin, CCO Theis Kipling, COO Göran Rydin, CHRO Camilla Wiberg and Deputy CEO Ulf Klangby.

After the balance sheet date, two new share issues were completed in connection with the exercising of warrants, and at the time of submission of this report the number of shares was 16,006,369.

The report is available on the company’s webpage:
https://investors.devyser.com/en/reports-presentations

This information is information that Devyser Diagnostics AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons below, on August 24 11, 2022 at 08:00 CET.

For more information, please contact:

Fredrik Alpsten, CEO
E-mail: fredrik.alpsten@devyser.com
Tel: +46 706 673 106

Sabina Berlin, CFO
E-mail: sabina.berlin@devyser.com
Tel: +46 739 519 502

About Devyser Diagnostics AB (publ)

Devyser develops, produces, and commercializes genetic test kits for laboratories in more than 45 countries. The products are used for advanced DNA testing within hereditary diseases, oncology, and transplantation to guide targeted cancer therapies, diagnose a wide array of genetic diseases, and to assist in post-transplant follow-up. Devyser’s products simplify complex genetic testing processes, minimize hands-on time and deliver rapid, accurate, and trusted results. Devyser was founded in 2004 and is based in Stockholm, Sweden.

Devyser’s shares are listed on Nasdaq First North Growth Market (ticker: DVYSR). The company’s certified adviser is Redeye AB. For more information, please visit www.devyser.com.

https://investors.devyser.com/sites/default/files/pr/202208235187-1.pdf

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