Regulatory press release

SenzaGen’s interim report January–September 2024: Strong quarter with over 30% growth

Message from the CEO
“We are coming out of yet another successful quarter with strong results and positive growth signals for the future. In the third quarter of the year, our year-on-year sales grew by 31%, reaching SEK 13.2 million. Our EBITDA improved substantially, reflecting increased demand for our tests and effective cost controls. Our core business, GARD®, exhibited impressive 54% sales growth with large customer orders and a growing customer base. This strong performance confirms that we are on the right path, and we look forward to continuing our growth journey with a focus on increased sales, innovation and strong customer relationships.”

Peter Nählstedt, President and CEO

Q3 2024

Net sales totaled SEK 13.2 (10.1) million.
EBITDA amounted to SEK -1.2 (-2.3) million.
Earnings per share were SEK -0.08 (-0.20).

1 January–30 September 2024

Net sales totaled SEK 42.2 (33.7) million.
EBITDA amounted to SEK -3.7 (-9.1) million.
Earnings per share were SEK -0.50 (-0.71).
Cash and cash equivalents at 30 September amounted to SEK 42.6 (19.7) million.

Significant events in the third quarter

SenzaGen’s collaboration with the Research Institute for Fragrance Materials (RIFM) was expanded with two new orders for non-animal testing with GARD®skin Dose-Response: one for quantitative risk assessment worth SEK 1.5 million and one for photosensitization worth SEK 3.0 million.
An existing customer in the chemicals industry placed an order worth SEK 1.3 million for testing with GARD®skin Dose-Response.
SenzaGen strengthened its US market presence by signing a license agreement with the Institute for In Vitro Sciences (IIVS), a CRO that is a prominent advocate of non-animal testing.

About us

SenzaGen is a corporate group that aims to be a leader in in vitro science and testing, driving the transition from animal testing to methods better suited to reflect human biology. The Company provides high-performance, non-animal test methods and innovation and consulting services based on state-of-the-art technology. Non-animal methods are more effective, more accurate and less expensive than traditional animal-based methods while also helping to reduce the number of laboratory animals. The Company has a growth strategy centered around continued commercialization of its proprietary GARD® and VitroScreen ORA® test platforms, expansion of its test portfolio and evaluation of acquisition opportunities of profitable and growing companies with complementary offerings. SenzaGen has its headquarters and GLP-certified laboratory in Lund, Sweden and subsidiaries in the US and Italy. For more information, please visit: www.senzagen.com.

SenzaGen is listed on Nasdaq Stockholm First North (ticker: SENZA). FNCA Sweden AB is the company’s Certified Adviser.