Slide 1: Earnings call Q1 2023
Devyser Earnings call Q1 2023 May 9, 2023
Slide 2: Today's presenters
Today’s presenters Fredrik Alpsten Sabina Berlin CEO CFO 2
Slide 3: Who we are
Who we are A pioneering leader in diagnostic solutions for genetic testing. 3
Slide 4: Why we do it
Why we do it Ensure every patient a correct diagnosis in the shortest possible time. 4
Slide 5: What we do
What we do Develop and market genetic test solutions to guide targeted cancer therapies, fast diagnosis of hereditary diseases, and post- transplant follow-up. 5
Slide 6: How we do it
How we do it We develop and provide solutions that are easy to implement, maintain, and use. This results in time and cost savings for the labs and faster treatment for patients. 6
Slide 7: First quarter 2023
First quarter 2023 Financials - Net sales MSEK 39.5 (30.4) - Sales growth+30% (+22% in local currency) - Gross margin 85% (83%) - EBIT –19.1 (-5.2) Highlights - Launched first IVDR-certified product - Signed agreement with Thermo Fisher - Won Swecare Export Award 2023 - Received CLIA certification -
Slide 8: Quarterly sales growth
Quarterly sales growth SEK million Net sales and gross margin per quarter % 40 90 Net sales, SEK million Gross margin, % 35 85 30 80 25 20 75 15 70 10 65 5 0 60 8
Slide 9: Market presence
Market presence Direct markets Austria Denmark Germany Italy Norway Sweden 3% North & Switzerland South 3% North America America UK Belgium APAC Spain France 94% EMEA Netherlands 17% (29%) 83% (71%) Net sales Q1 2023 Direct sales Distributors 9
Slide 10: Sales per channel
Sales per channel MSEK Q1 2023 Q1 2022 Change, % 2022 Direct sales 32.9 21.7 51.3 97.3 Distributor sales 6.6 8.7 -23.7 29.3 Total 39.5 30.4 29.9 126.6 Highlights - Directs sales 83% Q1 2023 (71%) and 77% 2022 (71%) - Continued high growth in new direct markets 10
Slide 11: Sales per region
Sales per region MSEK Q1 2023 Q1 2022 Change, % 2022 EMEA 37.0 29.2 26.7 119.2 APAC 1.4 0.6 116.2 4.2 North and South America 1.1 0.6 102.2 3.2 Total 39.5 30.4 29.9 126.6 Highlights - Continued strong sales development in the US - First recovery signs in APAC - Stable EMEA growth, including in Italy
Slide 12: Key financials
Key financials MSEK Q1 2023 Q1 2022 2022 Net sales 39.5 30.4 126.6 Cost of goods sold -5.8 -5.2 -23.2 Gross profit 33.7 25.2 103.4 Gross margin 85.2% 83.0% 81.7% Other operating income 1.2 2.7 8.0 Selling expenses -30.8 -19.5 -94.2 Administrative expenses -10.9 -8.2 -37.9 R&D expenses -11.1 -4.3 -26
Slide 13: Key financials (cont.)
Key financials (cont.) Q1 2023 Q1 2022 2022 Cash-flow operating activities, MSEK -19.3 -7.4 -40.5 Available liquid funds, MSEK 337 413 364 Net debt, MSEK -317 -400 -342 Avererage No of employees 93 64 76 13
Slide 14: Agreement with Thermo Fisher Scientific
Agreement with Thermo Fisher Scientific - Collaboration and distribution agreement - Exclusive rights to commercialize Devyser’s post- transplant monitoring portfolio in North America and Europe under combined brands 14
Slide 15: Successful development and registration efforts
Successful development and registration efforts - Launch of Devyser cfDNA Accept - IVDR for transplantation products - Soon launch of Devyser LynchFAP - Soon launch of Devyser BRCA PALB2 15
Slide 16: Financial targets
Financial targets Q1 2023 Q1 2023 2022 Historical Target Outcome Outcome Outcome performance Metric Revenue • Achieve an annual organic growth in excess of 36% 29.9% 29.9% 35.4% growth 30% CAGR 2015 - 2022 • Achieve a gross margin in excess of 80% in 74 Gross margin 85.2% 85.2% 81.7% Average 2018 -
Slide 17: Going forward
Going forward - Continued focus on direct sales markets in Europe - Increased US presence with the Thermo agreement and the CLIA lab - Increased distributor sales focus - Continued product development 17
Slide 18: Q&A
Q&A Dvysr.