SciBase: end of year report

STOCKHOLM, February 23, 2022 /PRNewswire/ — January 1 – December 31, 2021

The fourth quarter in numbers

  • Net sales amounted to TSEK 3,925 (3,055).

  • The loss after tax amounted to TSEK 13,852 (9,839).

  • The loss per share amounted to SEK 0.20 (0.20).

  • Cash flow from current operations was negative at TSEK 11,709 (10,290).

  • The gross margin reached 52.8% (49.4%).

  • The sales volume of electrodes increased by 7% and reached 8,024 (7,492) units. Repeat sales of electrodes to existing customers increased by 12%.

The full year in numbers

  • Net sales amounted to TSEK 11,727 (9,521).

  • The loss after tax amounted to TSEK 41,778 (34,989).

  • The loss per share amounted to SEK 0.67 (1.12).

  • Cash flow from current operations is negative at TSEK 39,501 (33,861).

  • The gross margin reached 56.1% (52.5%).

  • The sales volume of electrodes increased by 16% and reached 29,792 (25,686) units. Repeat sales of electrodes to existing customers increased by 12%.

Important events of the quarter

  • Overall sales increased by 28% (+34%, before currency effects). Covid-19 continues to affect sales and the market situation remains difficult to predict in the future, due to ongoing closures and reduced marketing activities. Sales in the important US market increased by 395% in the skin cancer area (in local currency by 415%). Sales in Germany decreased by 18% (-14% in local currency).

  • A Medicare Payment Assignment Request for the Nevisense procedure has been submitted to National Government Services (NGS), the Medicare administrative contractor with responsibility for carrier jurisdiction for new York and several other states.

  • SciBase received an order for ten additional Nevisense systems and electrodes valued at approximately 100 KUSD from Advanced Dermatology, PC (AdvDermPC) in New York City.

  • A nominating committee for the 2022 AGM has been appointed.

Important events after the end of the period

  • A new US study supporting the use of Nevisense in the diagnosis of melanoma has been published in “SKIN – The journal of cutaneous medicine”. The study shows that Nevisense provides valuable diagnostic guidance when evaluating atypical pigmented skin lesions.

  • SciBase has announced a change in the management team and a new head of quality and regulatory affairs.

Financial overview

October 1 – December 31

January 1 – December 31

THE GROUP

2021

2020

2021

2020

Net sales, SEK ths

3,925

3,055

11,727

9,521

Gross margin, %

52.8%

49.4%

56.1%

52.5%

Equity-to-asset ratio, %

82.8%

79.1%

82.8%

79.1%

Net debt, multiple

0.21

0.26

0.21

0.26

Cash equivalents, SEK ths

65,607

41,427

65,607

41,427

Cash flow from operating activities, SEK ths

-11,709

-10,290

-39,501

-33,861

Earnings per share (before and after dilution), SEK

-0.20

-0.20

-0.67

-1.12

Equity per share, SEK

1.03

0.96

1.16

1.50

Average number of shares, 000′

68,475

48,707

60,827

31,287

Number of shares at end of period, 000′

68,475

54,780

68,475

54,780

Share price at the end of the period, SEK

5.52

4.62

5.52

4.62

Number of electrodes sold, pieces

8,024

7,492

29,792

25,686

Average number of employees

18

17

17

16

This information is information that SciBase Holding AB is required to make public in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the contact person listed below, at 08:00 CET on February 23, 2022.

Contact person: Michael Colérus, Chief Financial Officer. +46 70 341 34 72
For more information please contact:
Simon GrantCEO of SciBase
Telephone: +46 72 887 43 99
Email: simon.grant@scibase.com

Certified Advisor:
Vator Securities
Tel: +46 8 580 065 99
Email: ca@vatorsec.se

About SciBase and Nevisense

SciBase is a global medical technology company headquartered in Stockholm, Sweden, which has developed a unique point-of-care platform for the non-invasive detection of skin cancer and other skin conditions. SciBase is a pioneer in augmented intelligence, combining artificial intelligence with electrical impedance spectroscopy (EIS) to provide objective information that helps dermatologists and others in clinical decision making. SciBase’s products include Nevisense and Nevisense Go and to date the platform covers the areas of melanoma detection, non-melanoma skin cancer detection and skin barrier assessment. Nevisense is the only FDA-approved device for the detection of melanoma and the only MDR-approved technology for the detection of skin cancer in Europe. SciBase’s technology is based on over 20 years of academic research in Karolinska Institute in Stockholm, Sweden. For more information, please visit www.scibase.com.

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https://news.cision.com/scibase/r/year-end-report,c3512252

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