Devyser Diagnostics AB publishes Interim Report for the period, January to September 2022.

STOCKHOLM: "Devyser reports yet another quarter of record sales and strong gross margins. The positive sales and margin trend remains stable. We are following the strategic plan we launched nearly two years ago. It involves converting to direct sales in certain markets where we are currently working with distributors, and increasing our focus on selected key markets, including the important North American market. So far, we have managed to exceed the plan's high expectations on sales growth and margins."

Fredrik Alpsten, CEO, Devyser

Quarter July-September 2022

Net sales amounted to SEK 31.2 million (24.3), corresponding to a 28.1% increase. Adjusted for exchange rate fluctuations, net sales increased by 22.2%.

Gross profit totaled SEK 26.3 million (19.1), corresponding to a gross margin of 84.4% (78.5).

Operating profit (EBIT) amounted to SEK -8.2 million (-2.5).

Profit after tax totaled SEK -8.8 million (-3.6).

Earnings per share before and after dilution amounted to SEK -0.55 (-0.32).

Cash flow from operating activities stood at SEK -11.8 million (-3.2).

The period from January to September 2022

Net sales amounted to SEK 92.4 million (69.0), corresponding to a 34.0% increase. Adjusted for exchange rate fluctuations, net sales increased by 28.8%.

Gross profit totaled SEK 76.2 million (53.5), corresponding to a gross margin of 82.5% (77.5).

Operating profit (EBIT) amounted to SEK -26.0 million (-7.3).

Profit after tax totaled SEK -29.3 million (-10.1).

Earnings per share before and after dilution amounted to SEK -1.84 (-0.92).

Cash flow from operating activities stood at SEK -27.1 million (-10.6).

Important events during the quarter

Certification under the new European IVD Regulation

In August, Devyser was certified under the new, more comprehensive IVD Regulation, which came into force on May 26, 2022...