SciBase Reports 61% Revenue Growth but Deepens Losses in Q1 2026

Event summary

  • Q1 2026 revenue grew 61% YoY (80% before currency effects) to SEK 14,278K, driven by 70% increase in electrode sales.
  • Net loss widened to SEK 24,490K from SEK 20,682K YoY, with gross margin dropping to 49.2% from 70.5%.
  • Rights issue subscribed at 96.4%, raising SEK 80M before costs; 83.9% of TO2 warrant holders accepted repurchase offer.
  • FDA approved extended labeling for Nevisense in US; NCCN included EIS in melanoma guidelines.
  • Electrode sales volume hit 30,460 units, with repeat sales to existing customers up 73%.

The big picture

SciBase's revenue surge reflects strong demand for its dermatology diagnostics, particularly in the US where regulatory tailwinds are strengthening its market position. However, the widening losses and margin compression highlight the challenges of scaling production and managing input costs. The company's ability to convert clinical validation into sustainable profitability will be critical as it approaches the 400,000-test milestone.

What we're watching

Margin Recovery
Whether SciBase can stabilize gross margins amid currency headwinds, gold price increases, and production scaling costs.
US Market Expansion
The pace at which Nevisense adoption accelerates in the US following FDA approval and NCCN guideline inclusion.
Cash Burn Management
How effectively the SEK 80M rights issue funds will alleviate operating cash flow pressures.