Ikonisys S A : reports its Full-Year Financial Results for 2024 and provides an update on its latest developments

About this update from Ikonisys Sa

Financial Ikonisys reports its Full-Year Financial Results for 2024 and provides an update on its latest developments 25/09/2025 Paris, France - September 25, 2025 - 6:30 pm CEST - Ikonisys SA (Euronext Growth Paris: ALIKO) , a company specializing in the early and accurate detection of cancers through a unique, fully automated solution for medical analysis laboratories, today announces its annual results for the year ending December 31, 2024, as approved by the Board of Directors on September 19, 2025 and provides an update on its latest developments. As previously announced, trading of Ikonisys SA shares on Euronext Growth Paris had been suspended. This decision followed the postponement of the publication of the 2024 annual report, mainly due to additional technical delays related to the complex process of fully consolidating the Ikonisys Group with Hospitex for the first time, including the purchase price allocation (PPA) of Hospitex's assets. Listing will resume as soon as the 2024 financial report is published, with trading to restart from September 26, 2025. Mario Crovetto, CEO of Ikonisys , stated: "2 024 was a year of transformation for Ikonisys. With the full acquisition of Hospitex International, we strengthened our integrated model, from sample preparation to automated analysis, delivering turnkey solutions by therapeutic area. Under the ALIKO SCIENTIFIC brand, our strategy is built around three complementary pillars - Ikoniscope platforms & software, reagents & consumables (including CytoFast and Urine24), and services - shaping a model focused on quality, standardization, and recurring revenues. Thanks to this industrial integration and reinforced financial foundations, the Group is now well positioned to continue the disciplined execution of its plan and with the ambition to increase adoption of its technologies for the benefit of laboratories, patients, and shareholder value creation. " 2024 and H1 2025 key highlights Throughout 2024 , Ikonisys achieved several important operational and technological milestones. The Company finalized the acquisition of 100% of Hospitex International S.r.l. , integrating into the Group's perimeter a standardized sample preparation offerin g, notably the CytoFast thin-layer cytology system, therefore covering the complete diagnostic value chain. Additionally, the company added the innovative BLOCKfast cell blocking solution , for which an international patent has been obtained in the course of the fiscal year. In terms of commercial activities, Hospitex continued gaining multiple clients for its best-in-class cytology solutions in Italy and abroad, both private and public. Significant milestones were achieved securing a contract with Synlab for providing an Ikoniscope Max on a pay-per-test basis, the first in Europe. A distribution agreement in Ukraine with Diagen LLC opened the EU eastern market, while LATAM is a further promising opportunity, thanks to the agreement signed with BioBrasil . Ikonisys continued its strategy of reinforcing key technical partnership by announcing a collaboration with Ulisse Biomed S.p.A. In parallel, the Group advanced R&D programs focused on integrating slide preparation (first level) with automated analysis and testing (second level) on the Ikoniscope20 and Ikoniscope Max platforms, reinforcing the technical continuity of the diagnostic process. ISO 13485 certification was renewed in 2024, confirming the robustness of the Group's quality management systems. Simplified consolidated income statement (audited) for 2024 Full-Year In euros FY 2024 FY 2023 Net Sales 1,011,113 448,557 Other income 63,973 196,616 Cost of goods sold (295,739) (192,730) Gross margin 779,347 452,444 Operating expenses (excl. D&A) (2,476,133) (1,379,850) Depreciation & Amortization (1,353,962) (1,266,322) Operating income / (loss) (3,050,748) (2,193,729) Financial income / (loss) (186,320) (73,918) Taxes 2,904 - Net income / (loss) (3,239,970) (2,267,646) Cash and cash equivalents at end of year 25,080 9,402 The Group's net revenue amounted to €1.01 million in 2024 , compared with €0.45 million in 2023 , an increase of +125% (+€0.56 million). This growth was driven primarily by the integration of Hospitex and the stronger contribution of cytology solutions. Other income totaled €0.06 million, down from €0.20 million in 2023. Cost of goods sold reached €0.3 million ( vs. €0.19 million in 2023 ), reflecting higher volumes and the production ramp-up. Gross margin was therefore approximately 77% of net sales, confirming the inherent profitability of the business model before operating expenses. Operating expenses , including depreciation & amortization, amounted to €3.83 million in 2024 , compared to €2.65 million in 2023 (+€1.18 million). This increase reflects several factors: Continued commercial and development investments to support future growth; The integration of Hospitex as of April 9, 2024, and therefore the inclusion of Hospitex's operating expenses from that date; Costs related to the acquisition and integration of Hospitex , as well as initial restructuring measures; The management decision not to capitalize new R&D expenses at Ikonisys Inc. in 2024 ; and Amortization of R&D projects capitalized in prior years. As a result, the company had an operating loss of (€3.05) million in 2024, compared to a loss of (€2.19) million in 2023. Net financial expenses amounted to (€0.19) million in 2024 (vs. (€0.07) million in 2023 ), mainly reflecting higher interest charges. However, it should be noted that the Company reduced its convertible debt by nearly 95%, significantly strengthening its medium-term debt structure. After taking into account the above-mentioned elements and a near-zero tax income, consolidated net loss was (€3.23) million, compared to (€2.27) million in 2023. In summary, fiscal year 2024 was marked by: The acquisition of 100% of Hospitex International S.r.l. , with consolidation of its financial statements as of April 9, 2024; Strong revenue growth , driven by the integration of Hospitex and the expansion of the product portfolio; A gross margin of 77%, highlighting the profitability of products and services before operating expenses; Higher operating expenses , mostly linked to sales & marketing investments, the inclusion of Hospitex' operating expenses, the amortization of past R&D projects, and exceptional acquisition and restructuring costs; An improved financial structure , thanks to the near-total reduction of convertible debt. The consolidated cash position at December 31, 2024, stood at €25 thousand, compared with €9 thousand at December 31, 2023. In 2025, the Company further strengthened its financial structure through a series of capital increases. Strategy and outlook In fiscal year 2024, Ikonisys reached a key milestone by laying the foundations of a unique integrated model in cancer diagnostics with the launch of ALIKO Scientific brand, built around three strategic pillars: top-class technology through automated instruments (Ikoniscope20 and Ikoniscope Max), recurring revenues thanks to reagents and consumables, and a unique solution-oriented approach by providing integrated services. The acquisition of Hospitex International significantly strengthens this strategy by enabling coverage of the entire diagnostic chain, from sample preparation to first and second level diagnosis. Moreover, Ikonisys will continue to invest in R&D to broaden its portfolio of applications, particularly in cytology and liquid biopsy, thereby confirming its positioning at the forefront of innovation in cancer diagnostics. The Company is thus deploying a fully vertical offering, distinguished by its ability to deliver "turnkey" solutions in targeted areas of oncology, with a business model increasingly driven by recurring revenues (consumables, maintenance, and services). This approach is designed to address the growing needs of laboratories and clinicians, ensuring standardization, efficiency, and reproducibility. The ultimate expression of this strategy and a validation of the company's cutting-edge technology is the signing of the exclusive distribution agreement with Menarini Diagnostics, the European largest distributor in the field of pathology and IVD ( in vitro ) diagnostics, in May 2025. Under the terms of the agreement, Menarini Diagnostics will exclusively distribute ALIKO Scientific's product portfolio. The Group's goal is to capture a significant share of the market, valued approximately 28 M€ only in Italy, within the first three years of commercial rollout. 2024 Annual Report Availability The 2024 Annual Financial Report, for the year ended December 31, 2024, is now available and was filed with the Autorité des Marchés Financiers (AMF). The document is available on the Company's investor website: https://www.alikoscientific.com (in the Documentation > Financial report section). Next financial press release: 2025 half-year financial results, on October 29, 2025 after market closing. -------- About ALIKO SCIENTIFIC (Ikonisys SA) Headquartered in Paris, ALIKO SCIENTIFIC is the parent company of an international ecosystem of businesses dedicated to advancing oncology diagnostics. Listed on Euronext Growth Paris under the ticker ALIKO, the company coordinates industrial, financial and research activities through its subsidiaries: Ikonisys Inc. (USA) and Hospitex International (Italy). ALIKO SCIENTIFIC's mission is to innovate cancer diagnosis by uniting cutting-edge technologies, resources, and strategic investments to create a global center of excellence in oncology. For more information, visit: https://www.alikoscientific.com About IKONISYS Ikonisys is a global leader in automated diagnostics, specializing in fluorescence in situ hybridization (FISH) and circulating tumor cell (CTC) detection. Leveraging advanced artificial intelligence (AI) and a fully automated microscopy platform, Ikonisys provides unmatched precision, scalability, and efficiency in cancer diagnostics and treatment monitoring. Recognized as pioneer in automation for rare cell detection, Ikonisys is at the forefront of personalized medicine, empowering clinicians to deliver targeted therapies and improve patient outcomes. For more information, visit: https://www.ikonisys.com About HOSPITEX Hospitex, based in Florence, Italy, is a global leader in cytology innovation. The company conducts in-house research, development, and production, thus ensuring the highest standards of quality. Hospitex offers the world's most advanced Liquid-Based Cytology (LBC) technology, capable of processing any cytological sample with unmatched precision. Hospitex is uniquely positioned as the only company fully prepared for seamless digital integration, paving the way for a transformative future in cytology diagnostics. For more information, visit: https://www.hospitex.com Disclaimer This press release contains forward-looking statements about the Company's prospects and development. These statements are sometimes identified by the use of the future tense, the conditional tense and forward-looking words such as "believe", "aim to", "expect", "intend", "estimate", "believe", "should", "could", "would" or "will" or, where appropriate, the negative of these terms or any other similar variants or expressions. This information is not historical data and should not be construed as a guarantee that the facts and data set forth will occur. This information is based on data, assumptions and estimates considered reasonable by the Company. It is subject to change or modification due to uncertainties relating to the economic, financial, competitive and regulatory environment. This information contains data relating to the Company's intentions, estimates and objectives concerning, in particular, the market, strategy, growth, results, financial situation and cash flow of the Company. The forward-looking information contained in this press release is made only as of the date of this press release. The Company does not undertake to update any forward-looking information contained in this press release, except as required by applicable law or regulation. The Company operates in a competitive and rapidly changing environment and therefore cannot anticipate all of the risks, uncertainties or other factors that may affect its business, their potential impact on its business or the extent to which the materialization of any one risk or combination of risks could cause results to differ materially from those expressed in any forward-looking information, it being recalled that none of this forward-looking information constitutes a guarantee of actual results. CONTACTS Ikonisys Alessandro Mauri, CFO [email protected] NewCap Louis-Victor Delouvrier/Aurélie Manavarere, Investor Relations [email protected] Tel. +33 (0)1 44 71 94 94 NewCap Arthur Rouillé, Media Relations [email protected] Tel. +33 (0)1 44 71 00 15 Download the pdf finance previous Suspension of trading of shares on Euronext Growth Paris until the publication of the 2024 annual report

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