Presentation

Devyser Diagnostics develop, produce, and commercialise genetic test kits and software DNA testing for hereditary diseases, oncology, and transplantation. These are used to guide targeted cancer therapies, to enable rapid diagnosis of hereditary diseases, as well as post-transplant follow-up. Devyser has three product categories: Hereditary diseases, Oncology, and Post-transplantation monitoring. These categories are in turn divided into 1-2 subcategories. The company was founded in Stockholm during 2004 and was introduced on Nasdaq First North in December 2021.

Recent highlights
In Q1, net sales amounted to SEK 30.4M (22.8), corresponding to a 33.2% increase (28.7% after adjustment for exchange rate fluctuations). Gross profit totalled SEK 25.2M (18.2), corresponding to a gross margin of 83.0% (79.7). In February, Devyser acquired all the outstanding shares of their Italian associate SmartSeq, which corresponded to 70% of shares in the company. The acquisition strengthens Devyser's customer offering in diagnostic analysis. In June, Devyser won a breakthrough contract from Héma-Québec, Canada, for its non-invasive fetal RHD detection product, which is initially valid for over three years starting in 2023, with a potential extension of two additional years.

Outlook
Factset consensus estimate sales and gross margin to reach SEK 132m and 78.8% in the end of 2022. However, EBIT is expected to stay negative of SEK -22m.
Devyser have financial targets of achieving an annual organic growth of >30%, gross margin of >80% (3-5 years), and EBIT-margin of >20% also in the medium term (3-5 years).