Genetic Analysis

Ronny Hermansen, CEO of Genetic Analysis, comments:
“I am pleased to announce that GA achieved an all-time high in sales during Q4, as well as achieving a positive EBITDA for the first time in the company’s history. The signing of the commercial agreement with Ferring Pharmaceuticals December 2024 is one of the most important agreements GA has landed. The companionship with Ferring represents a milestone for GA, as well as for the entire Microbiome industry.”

Important insights

• Total sales reached an all-time high in Q4, and ended at NOK 6,2 million, up 63% from Q4 last year. Total Sales Year to Date (YTD) December is up 12% from last year, or up 25% if adjusted for discontinued instrument sales.
• GA achieved its first positive EBITDA during Q4. In addition, a strong Gross Margin was achieved in Q4 at 83% and 80% YTD December as a result of a positive product mix and manufacturing efficiencies. 
• Sales of our core product, the GA-map® Dysbiosis Test continue to increase and achieved 49% growth in Q4, and 37% growth YTD December, compared to the same periods last year.
• In December, GA signed an agreement with Ferring Pharmaceuticals to complete development of a new microbiome-based diagnostic test, aiming for Research use Only (RuO) launch during H1-2025.

Q4 2024 (01.10.2024 – 31.12.2024)

• Operating income amounted to NOK 7,3 million (6,4)
• Sales amounted to NOK 6,2 million (3,8)
• Net profit/loss amounted to NOK -0,9 million (-6,7)
• EBITDA amounted to NOK 0,4 million (-5,6)
• Total assets amounted to NOK 42,4 million (53,5)
• Equity ratio amounted to 53% (60%)
• Earnings per share amounted to NOK -0,02 (-0,21)

Q1-Q4 2024 (01.01.2024 – 31.12.2024)

• Operating income amounted to NOK 20,7 million (23,2)
• Sales amounted to NOK 15,9 million (14,1)
• Net profit/loss amounted to NOK -14,8 million (-23,8)
• EBITDA amounted to NOK -9,0 million (-18,3)
• Total assets amounted to NOK 42,4 million (53,5)
• Equity ratio amounted to 53% (60%)
• Earnings per share amounted to NOK -0,34 (-0,75)

Financial Highlights during Q4 2024

• Total operating income ended at NOK 7,3 million in Q4 2024 (NOK 6,4 million).

• Positive EBITDA of NOK 0,4 million compared to NOK –5,6 million in the corresponding quarter of 2023. This is the first time GA has achieved a positive EBITDA, which marks a milestone for the company.

• Net loss was NOK –0,9 million compared to NOK –6,7 million in the corresponding quarter of 2023.

• Sales revenues for the quarter reached NOK 6,2 million (NOK 3,8 million) in Q4 2024. Sales were positively affected by strong reagent kits sales of the GA-map® Dysbiosis Test and research income from service lab.

• Sales revenues Year To Date (YTD) December of our core product the GA-map® Dysbiosis Test reached NOK 13,2 million and achieved growth of 37% compared to 2023 (NOK 9,6 million). This growth can be especially linked to our expansion into new labs in Europe.

• Gross margin increased to 80% YTD December compared to 69% for the same period last year. This is due to an improved product mix and cost savings from our manufacturing improvement program.

• Operating costs reduced with 37% to NOK 8,3 million in Q4 2024; YTD December decreased operating costs by 26% to NOK 34,9 million. This is a result of R&D projects moving into a less costly phase, and a general reduction in cost levels.

Significant events during Q4 2024

• On November 22, GA’s Head of Operations Lars Tiller bought 30.000 GEAN shares at an average price of 0,39 NOK per share. Following the transaction, Lars Tiller owns 93.291 shares and 210.000 options.

• On November 25, GA’s CEO Ronny Hermansen bought 73.400 GEAN shares, through the fully owned company InVitroDia AS, at an average price of NOK 0,42. After this transaction, Ronny Hermansen including the controlled company owns 1.113.600 shares and 716.668 options.

• On December 20, Genetic Analysis and Ferring Pharmaceuticals announced a collaboration to develop and launch a new microbiome-based PCR test the GA-map® MHI GutHealth. This new test is based on the GA-map® platform technology combined with Ferring’s Microbiome Health Index™ for measuring antibiotic-associated gut microbiome imbalance and for monitoring microbiome restoration of patients in a clinical setting. Results are rapidly calculated by a specialised multiplex algorithm and clinicians will experience results in hours rather than weeks, and at much reduced costs.

Significant events after the end of the period

• No significant events to report after the end of the period.

For further information, please contact:
Ronny Hermansen, CEO
E-mail: rh@genetic-analysis.com

This disclosure contains information that Genetic Analysis AS is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, at the time indicated by Genetic Analysis AS news distributor upon publication of this press release.

About Genetic Analysis:
Genetic Analysis AS (GA) is a science-based diagnostic company and pioneer in the human microbiome field with more than 15 years of expertise in research and product development. The unique GA-map® platform is based on a pre-determined multiplex targets approach specialized for simultaneous analysis of a large number of bacteria in one reaction. The test results are generated by utilizing the clinically validated cutting edge GA-map® software algorithm. This enables immediate results without the need for further bioinformatics work. GA’s vision is to become the leading company for standardized gut microbiota testing worldwide, and GA is committed to help unlocking and restoring the human microbiome through its state-of-the-art technology. GA employs a team of highly qualified employees with scientific backgrounds and competence in sales, operations, bioinformatics, molecular biology, and bioengineering.

For more general information: www.genetic-analysis.com

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