Scibase (SCIB) Q3 2024 earnings summary

Executive summary

• Net sales for Q3 2024 increased by 16% year-over-year to SEK 8.4 million, with US sales up 187% and gross margin reaching a record 75.7%.

• Loss after tax for Q3 was SEK 17.8 million, with a loss per share of SEK 0.08; cash flow from operations remained negative.

• Expansion in the US and new partnerships, including a significant NIH order, drove growth, while Germany saw a temporary sales dip due to prior inventory build-up.

• SciBase secured new financing through a directed issue and rights issue totaling approximately SEK 81.8 million to support ongoing expansion.

Financial highlights

• Q3 net sales: SEK 8.4 million (up 16% year-over-year); 9M 2024 net sales: SEK 21.1 million (up 21%).

• Gross margin Q3: 75.7% (68.2%); 9M: 72.0% (67.5%).

• Q3 loss after tax: SEK 17.8 million (Q3 2023: SEK 12.8 million); 9M loss after tax: SEK 43.7 million (9M 2023: SEK 35.0 million).

• Cash and cash equivalents at period end: SEK 24.7 million.

• Cash flow from operations Q3: SEK -16.5 million; 9M: SEK -44.8 million.

Outlook and guidance

• US market expansion and new customer acquisition expected to continue driving growth.

• Launch in Italy planned for H1 2025 following regulatory adjustments.

• Focus remains on achieving a stable gross margin above 70% and broadening reimbursement in the US.