#Sweden #Stockholm #dermatology #Nevisense #SciBase

SciBase Reports First Quarter Results

On May 7, 2026, SciBase, a leading medical technology firm specializing in dermatology, provided its first quarter results for the year 2026. The company reported a 61% increase in net sales year-over-year, climbing to TSEK 14,278 from TSEK 8,856. When adjusted for currency effects, this impressive growth rate reached 80%. Despite the positive sales trend, the company faced a loss after tax of TSEK 24,490, compared to TSEK 20,682 from the previous year. The gross margin also took a hit, decreasing to 49.2% from 70.5%.

Key Financial Highlights

• - Electrode Sales Volume: Notably, the volume of electrodes sold witnessed a remarkable 70% increase, reaching 30,460 units, up from 17,870. This surge included a 73% rise in repeat sales to existing customers, reflecting strong client retention and satisfaction.
• - Cash Flow: The cash flow from operations remained negative at TSEK 26,573, slightly higher than last year's TSEK 26,001.
• - Impact Factors: Several factors influenced the gross margin negatively, including currency fluctuations (impact over 5%), ongoing deliveries to Castle Biosciences for clinical studies, rising gold prices, and continuous investments needed to boost production capacity.

Significant Events of the Quarter

During this quarter, several noteworthy events occurred:

• - SciBase recorded a commendable 79% increase in sales in the skin cancer market in the U.S., with the local currency increase reaching 109%. Sales in Germany for the skin cancer segment remained stable with a 5% increase in local currency.
• - The company successfully executed a rights issue, with 96.4% subscription, generating approximately SEK 80 million before costs.
• - A significant study was published demonstrating that Nevisense, SciBase's flagship product, can predict atopic dermatitis in newborns, showcasing its robustness and clinical utility.
• - Recognition expanded as Nevisense (EIS) was included in the U.S. National Comprehensive Cancer Network (NCCN) Guidelines for melanoma detection, underscoring its growing influence in dermatological diagnostics.
• - In a related development, the FDA approved extended labeling for Nevisense in the U.S., enhancing its market reach and acceptance.

Looking Ahead

After the quarter ended, SciBase achieved a milestone by surpassing 400,000 tests sold globally. The company continues to focus on advancing its product lineup and reinforcing its commitment to improving skin health through innovation and technology. The results of the board meeting were also published, alongside the annual report for 2025, setting the stage for future developments and strategies.

SciBase remains committed to its vision of reducing patient suffering and improving life quality through timely detection and management of skin lesions. With over 20 years of research backing its technologies, the firm looks poised for continued growth in the lucrative dermatology market.

Overall, SciBase’s business performance highlights the balance between rapid growth and the challenges inherent in scaling up production and operational capabilities. All eyes will be on the company as it proceeds into the coming quarters, leveraging its strong product offerings and market presence to drive further success.