PExA (PEXA) Q2 2024 earnings summary

Executive summary

• Net sales for H1 2024 were 219,698 SEK, down from 920,424 SEK year-over-year; Q2 sales were 51,430 SEK, down from 575,485 SEK.

• Net loss after financial items for H1 2024 was -4,950,311 SEK, compared to -4,211,655 SEK last year; Q2 net loss was -3,001,667 SEK.

• Cash and cash equivalents at June 30, 2024, were 5,408,119 SEK, down from 14,319,649 SEK a year earlier.

• Key scientific milestones included publications validating PEXA's technology and successful academic collaborations.

• A rights issue post-period raised 5.6 MSEK before costs, supporting international marketing and customer base expansion.

Financial highlights

• Net sales for Q2 2024: 51,430 SEK (Q2 2023: 575,485 SEK); H1 2024: 219,698 SEK (H1 2023: 920,424 SEK).

• Net loss after financial items for Q2 2024: -3,001,667 SEK (Q2 2023: -2,329,912 SEK); H1 2024: -4,950,311 SEK (H1 2023: -4,211,655 SEK).

• Cash flow from operations for H1 2024: -3,656,452 SEK (H1 2023: -4,117,047 SEK).

• Equity at June 30, 2024: 8,228,310 SEK (June 30, 2023: 17,055,533 SEK).

• Solidity at period end: 77.7% (June 30, 2023: 87.4%).

Outlook and guidance

• Raised capital from the rights issue will fund continued international marketing and expansion of the customer base.

• Focus remains on leveraging scientific results to drive adoption and move toward diagnostic applications.

• Long-term ambition is to expand into clinical diagnostics for global markets.