Devyser Diagnostics (DVYSR) Q2 2025 earnings summary

Executive summary

• Achieved record quarterly revenue of SEK 67.4 million, up 27% year-over-year, with gross margin at 84.2% and EBIT at SEK 5.5 million, including SEK 1.8 million in one-off reorganization costs.

• Completed a company-wide reorganization, resulting in a healthier cost structure, improved efficiency, and updated product roadmap.

• Launched three new products in Q2 2025: IVDR Class D-approved RHD, HLA Loss for transplantation research, and Genomic Blood Typing, all receiving positive market feedback.

• U.S. and North American markets saw over 200% year-over-year growth, with distributor sales, especially through Thermo Fisher, showing the strongest gains.

• Cash position at quarter-end was SEK 100.4 million, with ongoing investments in product development and a focus on balancing growth and cash management.

Financial highlights

• Revenue for Q2 2025 reached SEK 67.4 million, up from SEK 53.2 million in Q2 2024, marking a 27% increase.

• Gross margin improved to 84.2%, supported by operational efficiencies and cost savings from reorganization.

• EBIT was SEK 5.5 million, a turnaround from SEK -22.7 million last year, including SEK 1.8 million in one-off items.

• Cash flow from operating activities in Q2 was SEK 2.3 million (vs. SEK -15.5 million); cash position at quarter-end was SEK 100.4 million.

• Q2 EPS was SEK 0.08 (vs. SEK -1.41 last year); H1 EPS SEK -1.16 (vs. SEK -2.15).

Outlook and guidance

• Confident in achieving 30% annual organic growth, 80% gross margin, and 20% EBIT margin by 2026.

• Focus remains on executing updated strategy, driving efficiency, and achieving profitability and positive cash flow.

• Revenue build-up expected to increase quarter by quarter, especially through Thermo Fisher partnership.

• Awaiting MolDx reimbursement decision for US CLIA-based test, expected to enable broader US commercialization later in 2025.

• No further restructuring costs anticipated for H2 2025; focus remains on efficiency and product output.