Senzime AB (publ) (SEZI) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone, and welcome to today's live Q&A with Senzyme. With me here I have the CEO of Senzyme, Filip Syberg. First of all, we will hear a presentation from him, and after that we will have a Q&A session. And also on our website you can see that you can send in questions to the Q&A sessions. But first we will hear the presentation from Filip. Okay, good morning. Pleasure to be here. I am pleased to announce the Q1 2026 report from Sunzyme. So just to start off with kind of a high-level summary. So Q1 2026 was a little bit of an outlier quarter. We reported a temporary dip on our growth journey, yet at the same time, we reported strengthened margins and good cash flow. And the four-year targets remain intact. What kind of stuck out in Q1 was slower sales in the U.S., specifically of closing new monitor deals, and mainly driven what we've seen as delayed purchasing processes, and a year starting with a bit of a macro concerns in the U.S. Nevertheless, we reported 40% growth in our sensor sales, calculated in constant currencies. Our underlying gross margin continues to improve very nicely, and we also reported a good traction on our operating cash flow. So all in all, I remain confident in our four-year target, despite the growth dip, and I will explain a little bit more on the background. So let's deep dive a little bit specifically on the U.S. market that I mentioned. If you look at the U.S. business, it grew 11% in local currencies in U.S. dollars. Specifically, look at disposables, the sensors, it grew at 55%. But then we were affected by, of course, the strong Swedish krona and the weak U.S. dollar. So versus the first quarter of last year, it was about 15% lower. So this ultimately led to our reported sales decreasing with 5% in the U.S., which was about 2....