Diagonal Bio (DIABIO) Q2 2024 earnings summary

Executive summary

• No net sales in Q2 2024; focus on capitalized development and pilot studies in veterinary diagnostics.

• Strategic partnerships and pilot studies in equine health expanded, with positive feedback from clinics.

• Completed rights issue, raising SEK 18 million before costs to support platform development.

• Appointed new CFO and strengthened go-to-market strategy with founding partner.

Financial highlights

• Net sales: 0 KSEK (0 KSEK year-over-year); capitalized development: 284 KSEK (911 KSEK); other operating income: 0 KSEK (4 KSEK).

• Operating profit: -3,118 KSEK (-2,798 KSEK year-over-year); EPS: -0.01 SEK (-0.08 SEK).

• Cash flow: 2,302 KSEK (-4,204 KSEK year-over-year); cash at period end: 4,158 KSEK (5,533 KSEK).

• Investments in intangible assets: 163 KSEK (477 KSEK); tangible assets: 375 KSEK (0 KSEK).

• Result for the period: -3,440 KSEK (-2,798 KSEK year-over-year).

Outlook and guidance

• Focus remains on expanding presence in equine healthcare and veterinary diagnostics.

• Additional capital from rights issue to support LAMPlify® platform development and new market opportunities.

• Anticipates further market adoption and international interest in point-of-care solutions.