“A quarter has passed since I took over as acting CEO and it has been an eventful first few months. Despite the turbulent environment, marked by geopolitical uncertainty, we are able to report our second strongest quarterly sales figures so far. Work on an initiated reorganization, efficiency improvements and the new strategic direction has continued according to plan.”

Fredrik Dahl, acting CEO, Devyser

The quarter from January to March 2025

• Net sales amounted to SEK 54.8 million (50.7), corresponding to a 7.9 percent increase. Adjusted for exchange rate fluctuations, net sales increased by 7.6 percent.
• Gross profit totaled SEK 45.6 million (41.9), corresponding to a gross margin of 83.4 percent (82.7).
• Operating profit/loss (EBIT) amounted to SEK -20.5 million (-12.2), affected by non-recurring costs of around SEK 8 million.
• Profit after tax totaled SEK -20.5 million (-12.2).
• Earnings per share before and after dilution amounted to SEK -1.24 (-0.75).
• Cash flow from operating activities stood at SEK -11.4 million (-16.5).

Important events during the quarter

Devyser won tender in Italy worth up to SEK 5.4 million with its NGS test for cystic fibrosis
At the end of January, Devyser won a tender with Devyser CFTR, its NGS test for cystic fibrosis. The contract with Policlinico di Bari is for five years, and has an estimated total order value of up to SEK 5.4 million.

Devyser launched updated NGS assay for the simplified testing of Thalassemia
Devyser launched Devyser Thalassemia v2 in early February. The improved technology will contribute to wider screening for Thalassemia with more accurate detection of structural variants. This saves time and gives researchers around the world better results.

Devyser won large tender in Italy worth SEK 16.8 million with a 30 percent increase
In February, Devyser was awarded a significant contract for the supply of its comprehensive NGS tests for critical genetic markers. The contract with AOU Città Della Salute e della Scienza, in Torino, Italy, covers genetic testing for CFTR, BRCA and Thalassemia and is valid for three years. The indicative order value is estimated at SEK 16.8 million.

Devyser Genomic Laboratories received accreditation from College of American Pathologists
The Accreditation Committee of the College of American Pathologists (CAP) granted accreditation to Devyser Genomic Laboratories, Devyser’s CLIA lab, based on the results of an on-site inspection conducted as part of CAP’s accreditation program. CAP accreditation, which is known for the rigorous and robust standards on which it is based, increases quality and reduces risks, making it an important way that laboratories can contribute to improved patient outcomes.

Decision from the board on change of CEO
Fredrik Alpsten left his position as CEO of Devyser in January. Fredrik Dahl, currently a member of the board, was appointed acting CEO.

The management team was expanded in March when it was joined by VP Quality and Regulatory Affairs Olle Myrberg, and VP Supply Chain Robin Sortebech. This means that the management team now consists of Fredrik Dahl, acting CEO, Sabina Berlin, CFO, Theis Kipling, CCO, Michael Uhlin, CSO, Camilla Wiberg, CHRO, Olle Myrberg, VP QA&RA, and Robin Sortebech, VP SC.

Important events after the end of the quarter

Jan Wahlström appointed as new CEO of Devyser
In April, Devyser’s Board of Directors announced the appointment of Jan Wahlström as the new CEO, effective August 2025. Jan Wahlström has a long background in the management and development of companies in the Health Care and Life Sciences field internationally. He has headed both listed and private equity-owned companies and most recently held the post of CEO of Mabtech.

Devyser secured a major tender in Italy worth SEK 61.8 million
In April, Devyser was awarded a significant new tender in Udine, Italy, valued at SEK 61.8 million. The tender includes both NGS and FA products over a 36 months period representing a 10 percent increase from the previous agreement.

Presentation

The report will be presented at an audiocast at 11:00 CET today. Dial-in number to the teleconference and a conference ID will be received by registering on the link below:
https://conference.inderes.com/teleconference/?id=5004503
 
The presentation will also be webcast and can be accessed from the following web address: 
https://devyser-diagnostics.events.inderes.com/q1-report-2025

This report and previous financial reports are available on the company’s webpage https://investors.devyser.com/en/reports-presentations.