Slide 1: Earnings call Q2 2024
Devyser Earnings call Q2 2024 July 23, 2024
Slide 2: Today's presenters
Today’s presenters Fredrik Alpsten Theis Kipling CEO CCO
Slide 3: Second quarter 2024
Second quarter 2024
Slide 4: Second quarter
Second quarter ▪ Continued strong sales growth • Sales 53.2 MSEK (37.7 MSEK) • Growth + 41% (all organic) • Growth local currency + 40 % 4
Slide 5: Quarterly net sales since IPO (CAGR of +36%)
Quarterly net sales since IPO (CAGR of +36%) SEK million 55 53,2 50,7 50 46,7 45,4 45 39,5 40 37,7 35 34,2 30,4 30,9 31,2 30 24,5 25 20 Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun 2021 2022 2022 2022 2022 2023 2023 2023 2023 2024 2024 Net sales, SEK millio
Slide 6: Sales by region
Sales by region Q2 Q2 Q1-Q2 Q1-Q2 Q3 2023- Q3 2022- MSEK 2024 2023 Dev % 2024 2023 Dev % Q2 2024 Q2 2023 Dev % EMEA 47.6 33.0 44.3 92.8 69.9 32.7 172.3 130.8 31.7 Asia Pacific 2.4 1.4 74.5 3.5 2.7 26.7 6.8 5.4 25.5 North & South America 3.3 3.4 -3.7 7.7 4.6 69.9 16.9 6.4 166.4 Total 53.2 37.7 41.1 1
Slide 7: Sales by sales channel
Sales by sales channel Q2 Q2 Q1-Q2 Q1-Q2 Q3 2023- Q3 2022- MSEK 2024 2023 Dev % 2024 2023 Dev % Q2 2024 Q2 2023 Dev % Direct sales 39.6 29.2 35.6 77.9 62.1 25.5 146.7 114.3 28.2 Distributor sales 13.7 8.5 59.6 26.1 15.2 72.0 49.4 28.2 74.8 Total 53.2 37.7 41.1 104.0 77.2 34.6 196.0 142.6 37.5 7
Slide 8: Second quarter
Second quarter ▪ Continued strong sales growth • Sales 53.2 MSEK (37.7 MSEK) • Growth + 41% (all organic) • Growth local currency + 40 % ▪ Gross margin 78% (83%) 8
Slide 9: Second quarter
Second quarter ▪ Continued strong sales growth • Sales 53.2 MSEK (37.7 MSEK) • Growth + 41% (all organic) • Growth local currency + 40 % ▪ Gross margin 78% (83%) ▪ EBIT • -23.1 MSEK (-13.5) 9
Slide 10: Second quarter
Second quarter ▪ Continued strong sales growth • Sales 53.2 MSEK (37.7 MSEK) • Growth + 41% (all organic) • Growth local currency + 40 % ▪ Gross margin 78% (83%) ▪ Improved EBIT • -23.1 MSEK (-13.5) ▪ Strong financial position • 201 MSEK in liquidity • No debts 10
Slide 11: Highlights Q2 and Commercial outlook
Highlights Q2 and Commercial outlook
Slide 12: Agreement with Thermo Fisher Scientific
Agreement with Thermo Fisher Scientific ▪ On June 17th we announced the global expansion of the agreement ▪ This agreement expands our addressable market by 43% (kidney only) ▪ Opening up regions such as Asia Pacific represents significant growth opportunities which we couldn’t reach on our own
Slide 13: Devyser partnered into a >$1B post-transplant NGS market
Devyser partnered into a >$1B post-transplant NGS market Source: Devyser data on file
Slide 14: Italy update
▪ On July 13th we announced an all-time-high tender with the region of Tuscany, Italy worth up to 75 MSEK covering 10 of our products and expanding our existing business with the region by up to 50% Italy ▪ On May 30 we announced a won tender related to th our Oncology products worth 5.5 MSEK update
Slide 15: Thalassemia
▪ Thalassemia is one of our absolute fastest growing products that accelerated considerably during H1 2024. In H1 it represented 10 % of our total revenue ▪ We recently won tenders in Italy, US ,Kuwait and with Thalassemia Karolinska hospital in Sweden and are seeing growth of 60% during H1 while pu
Slide 16: RHD
▪ We continue to expand our market position within RHD and have recently added a second leading testing provider in Canada and will be a dominating player once RHD testing becomes fully implemented RHD ▪ In addition we announced in December that Devyser RHD is the chosen product for nationwide scree
Slide 17: What's next with Thermo Fisher
What’s next with Thermo Fisher….. · H1 2024 revenues from Thermo Fisher is ~65% above H2 2023 and accelerating with several accounts starting clinical routine · We have groundbreaking innovations being launched while also expanding our test for solid organs from the initial indication focused on kid
Slide 18: What's next in the US
▪ Cystic Fibrosis testing validation is moving along with our first customer. The US market holds 1,4m tests annually ▪ RHD testing looks highly promising and could be a gamechanger for Devyser in the US. ~15% of americans are rh negative / 3,7m births annually means 550k patients to be tested yearl
Slide 19: Going forward
Going forward - Focus on North America and Europe - Optimistic about sales development - Continue our way to profitability 19
Slide 20: Q&A
O&A Dvysr.
Slide 21: Connect with us
Connect with us www.devyser.com