Biovica International (BIOVIC) Q3 25/26 earnings summary

Executive summary

• Q3 net sales grew 46% year-over-year, with strong momentum in Pharma Services and the U.S. clinical business, supported by new commercial agreements and positive clinical data.

• DiviTum product adoption accelerated, backed by over 30 peer-reviewed studies and expanding clinical applications, especially in metastatic and early breast cancer.

• Strategic focus on the U.S. market, including new agreements with major cancer centers and termination of Nordic distribution to prioritize U.S. expansion.

• CEO succession process initiated, with transition planned during 2026 to strengthen U.S. market presence.

Financial highlights

• Q3 net sales reached SEK 3.3 million, up 46% year-over-year (60% in local currency); year-to-date sales totaled SEK 8.6 million, up 36% (50% in local currency).

• Pharma Services revenue grew 57% in SEK and over 70% in local currency; record quarterly testing volumes achieved.

• U.S. IVD test sales increased 21% year-over-year in Q3 and 46% year-to-date.

• Operating cash flow improved by SEK 5.9 million year-over-year; cash position at quarter-end was SEK 88 million.

• Q3 operating loss narrowed to SEK -17,779k from SEK -22,183k year-over-year.

Outlook and guidance

• Expectation of continued strong momentum in Pharma Services and U.S. clinical business, with sequential quarterly growth anticipated.

• Multiple initiatives underway to accelerate U.S. volume expansion, including IDN, early breast cancer, and Tempus partnerships.

• No significant changes in organizational spending planned, except for targeted investments in revenue-generating areas.

• Financial targets withdrawn due to delays in a key U.S. study; new targets to be set after further commercial progress.

• Ongoing initiatives to secure broader reimbursement in the U.S., focusing on generating clinical and health economic data for private payers.