Scibase (SCIB) Q4 2024 earnings summary

Executive summary

• Net sales for Q4 2024 rose 49% year-over-year to SEK 8.6 million, with full-year sales up 28% to SEK 29.7 million.

• US skin cancer segment sales surged 319% in Q4, while Germany returned to growth with a 27% increase.

• Loss after tax improved to SEK -17.5 million in Q4 (from -20.5 million), but full-year loss widened to SEK -61.1 million.

• Gross margin for the year was 71.0%, up from 69.0% in 2023, despite a Q4 dip to 68.5% due to higher device sales.

• Major capital raise of SEK 81.8 million approved, securing short-term financing for growth.

Financial highlights

• Q4 net sales: SEK 8.6m (Q4 2023: SEK 5.8m); full-year: SEK 29.7m (2023: SEK 23.2m).

• Q4 loss after tax: SEK -17.5m (Q4 2023: SEK -20.5m); full-year: SEK -61.1m (2023: SEK -55.6m).

• Q4 gross margin: 68.5% (Q4 2023: 73.5%); full-year: 71.0% (2023: 69.0%).

• Cash flow from operations: SEK -12.5m in Q4; SEK -57.4m for the year.

• Cash and cash equivalents at year-end: SEK 11.2m (2023: SEK 34.1m).

Outlook and guidance

• Continued strong sales growth expected in both US and Germany, with further expansion in Italy planned for Q2 2025.

• Focus on achieving broader reimbursement in the US and leveraging new clinical collaborations.

• Board anticipates need for additional long-term financing despite recent capital raise.