Boule Diagnostics AB (BOUL) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody, and welcome to the second quarter earnings call for Bull Diagnostics. I'm Holger Lemberg, CFO for Bull Diagnostics, and with me, I have our CEO, Torben Nielsen. After our presentation, we will open up for questions. Please also feel free to type questions in the chat field. With that, I'm handing over to you, Torben. Thank you, Holger, and good morning, and welcome to all of you joining this Q2 earnings call. Let's begin by looking at the highlights of the quarter. The second quarter of the year saw the continued effects of the geopolitical instability with longer than usual supply chain lead times, delayed payments from key customers due to continuing bank restrictions and unfavorable effects development from a weakening US dollar. CO2 was overall and relatively speaking a stable quarter. with a 3.3% organic decline compared to last year. Instrument unit sales grew 17% year over year, however, at a lower average selling price. This is part of our strategic focus to grow our install base as a way of investing in future reagent business growth. Our five pound instrument sales more than doubled in both the quarter and year to date. reflecting the higher demand for five-part technology in the market. Consumable sales came in 12% below last year, largely due to the delayed payments, which then delayed shipments, and we ended up closing the quarter with a larger than usual backlog, like what we experienced in Q1. OEM sales were in line with our expectations and on level with last year's sales due to timing of orders, However, we do expect continued good development in the second half of the year. Gross margin declined in the quarter to 38.7% due to product mix. Our instrument sales grew, but at a lower average selling price, which diluted the gros...