“Devyser is able to report strong sales growth and record high gross margins for the fourth quarter. During the quarter, Devyser continued to demonstrate the competitiveness of its products by winning several contracts. Wec saw significant development in the US, where we achieved an important milestone after the end of the quarter with the first commercial contract for
The positive trend seen for the first three quarters continued in the fourth quarter. If we look back at the full-year 2023, we would summarize it as a year of strong growth during which we established ourselves in several new markets and strengthened our presence in existing markets. Thanks to increased volumes and higher prices we were able to further bolster our gross margins.
Overall, 2023 was a very eventful year and our most successful year yet for the company. During the year, 400,000 people worldwide were diagnosed using our products.”
Fredrik Alpsten, CEO, Devyser
The quarter from October to
- Net sales amounted to
SEK 45.4 million (34.2), corresponding to a 32.7 percent increase. Adjusted for exchange rate fluctuations, net sales increased by 27.5 percent. - Gross profit totaled
SEK 40.0 million (27.2), corresponding to a gross margin of 88.1 percent (79.5). - Operating profit (EBIT) amounted to
SEK -18.5 million (-25.9). - Profit after tax totaled
SEK -13.1 million (-16.7). - Earnings per share before and after dilution amounted to
SEK -0.80 (-1.04). - Cash flow from operating activities stood at
SEK -13.8 million (-13.4).
The period from January to
- Net sales amounted to
SEK 169.3 million (126.6), corresponding to a 33.7 percent increase. Adjusted for exchange rate fluctuations, net sales increased by 24.9 percent. - Gross profit totaled
SEK 144.7 million (103.4), corresponding to a gross margin of 85.5 percent (81.7). - Operating profit (EBIT) amounted to
SEK -58.9 million (-52.0). - Profit after tax totaled
SEK -53.6 million (-46.0). - Earnings per share before and after dilution amounted to
SEK -3.31 (-2.89). - Cash flow from operating activities stood at
SEK -69.7 million (-40.5). - The Board is not proposing a dividend for 2023.
Important events during the quarter
Contract for RHD testing won in
In December, Devyser won a contract for Devyser RHD, the company’s product for the non-invasive testing of maternal plasma during pregnancy to determine fetal RHD status. The contract with Wales Blood Services in
CFTR contract won in Italy
In December, Devyser won a contract for CFTR genotyping tests used for newborn screening and cystic fibrosis detection. The contract with the
Important events after the end of the quarter
IVD development agreement with
An IVD (in-vitro diagnostic) development agreement was signed with Illumina to enable regulatory registrations of Devyser’s NGS tests on MiSeqDx, Illumina’s FDA-regulated and CE-IVD-marked sequencing instrument.
Cystic fibrosis contract won in
Devyser won another contract for CFTR genotyping tests in
Devyser strengthened its management team
The management team was expanded on
Presentation
The report will be presented at an audiocast at
https://conference.financialhearings.com/teleconference/?id=5003238
The presentation will also be webcast and can be accessed from the following web address:
https://ir.financialhearings.com/devyser-diagnostics-q4-report-2023
This report and previous financial reports are available on the company’s webpage https://investors.devyser.com/en/reports-presentations.
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