Level Bio (LEVBIO) Q4 2024 earnings summary

Executive summary

• Achieved 22% revenue growth in Q4 2024 year-over-year, with gross margin rising to 58% from 36%.

• Full-year 2024 revenue declined 4% to 25,096 KSEK, but recurring revenues now represent 62% of sales.

• Strategic investments, rebranding, and ERP implementation led to one-time costs of 2,050 KSEK.

• Distribution segment (Techtum Lab) showed strong growth, while manufacturing (Cybergene) faced temporary headwinds.

Financial highlights

• Q4 net sales: 7,450 KSEK (up 22% YoY); full-year: 25,096 KSEK (down 4% YoY).

• Q4 net loss after tax: -1,366 KSEK (improved from -4,260 KSEK YoY); full-year net loss: -7,872 KSEK (improved from -9,964 KSEK YoY).

• Q4 operating loss: -1,479 KSEK; full-year operating loss: -8,083 KSEK.

• Cash flow for Q4: -264 KSEK; full-year: -2,551 KSEK.

• Cash at year-end: 1,078 KSEK (down from 3,629 KSEK YoY).

Outlook and guidance

• 2025 started positively with improved cash and receivables, supporting financial stability.

• Management expects continued growth in advanced diagnostics and single-cell analysis, with recurring revenues providing stability.

• Regulatory work (IVDR) in manufacturing expected to reduce consulting costs in 2025.