Scibase (SCIB) Q2 2025 earnings summary

Executive summary

• Net sales for Q2 2025 increased by 32% year-over-year to SEK 8.8 million, with US sales up 308% and German sales up 5% (11% in local currency).

• Loss after tax for Q2 was SEK 26.6 million, with a loss per share of SEK 0.08; H1 loss after tax was SEK 54.1 million.

• Gross margin for Q2 was 66.2%, impacted by investments in production capacity and negative currency effects.

• Collaboration and license agreement signed with Castle Biosciences to develop dermatology diagnostics, including a SEK 19 million share issue to Castle.

• First order received from an Italian dermatology practice, marking progress in European expansion.

Financial highlights

• Q2 net sales: SEK 8.8 million (Q2 2024: SEK 6.6 million), +32% (+40% currency-adjusted).

• H1 net sales: SEK 17.6 million (H1 2024: SEK 12.7 million), +39% (+43% currency-adjusted).

• Q2 gross margin: 66.2% (Q2 2024: 69.1%); H1 gross margin: 68.4% (H1 2024: 69.5%).

• Q2 operating loss: SEK 22.4 million (Q2 2024: SEK 14.7 million); H1 operating loss: SEK 41.9 million (H1 2024: SEK 29.0 million).

• Cash flow from operations in Q2: SEK -20.5 million; cash and equivalents at period end: SEK 24.0 million.

Outlook and guidance

• Management anticipates continued strong growth, especially in the US, and expects to maintain a stable gross margin above 70% as investments in capacity yield results.

• Ongoing efforts to secure reimbursement in the US and expand clinical indications, with a focus on atopic dermatitis.

• Additional financing may be required for long-term capital needs, but the board is confident in securing necessary funds.