Interim report January - September 2026

July – September 2026

• Net sales totaled SEK 36,872 (27,532) thousand, representing a growth of 34%, which also corresponds to growth adjusted for currency effects.
• Operating profit before depreciation and amortization (EBITDA) totaled SEK 10,289 (6,878) thousand.
• Earnings per share totaled SEK 0.06 (0.12). Prior year includes a gain on the disposal of an associate equivalent to SEK 0.10 per share.
• Cash flow from operating activities was SEK 14,580 (10,875) thousand.

 
January – September 2026

• On 1 June 2026, Genovis AB acquired 100% of the shares in KPL ApS, a Danish life science tools company with a proprietary portfolio of precision enzymes (proteases), including both commercialized products and products under development, for mass spectrometry-based protein analysis in academic research, diagnostics, and drug development.
• Net sales totaled SEK 104,694 (88,694) thousand, representing growth of 18%, corresponding to 24% when adjusted for currency effects.
• Operating profit before depreciation and amortization (EBITDA) totaled SEK 26,640 (21,820) thousand and was affected by transaction costs of SEK 3,492 thousand related to the acquisition of KPL ApS in the second quarter. Adjusted for these costs, EBITDA amounted to SEK 30,132 thousand.
• Earnings per share totaled SEK 0.15 (0.25) and were affected by transaction costs related to the acquisition of KPL ApS. Adjusted for these costs, earnings per share amounted to SEK 0.20. Prior year includes a gain on the disposal of an associate equivalent to SEK 0.10 per share.
• Cash flow from operating activities was SEK 38,994 (16,126) thousand.

Message from the CEO
The third quarter was characterised by strong growth, with our broader business increasingly reflected in our results. Sales grew by a third, profitability improved and all parts of the business contributed. Following a second quarter marked by acquisitions and non-recurring expenses, the third quarter demonstrated more clearly the strength of the platform we are bulding.
Net sales amounted to SEK 36,872 thousand (27,532), an increase of 34 percent compared with the same period of the prior year. Growth was broad-based, driven by both our established Analytics business and a very strong performance in Genomics.
Profitability improved significantly during the quarter. EBITDA amounted to SEK 10,289 thousand (6,878), an increase of 50 percent, while operating profit (EBIT) rose by just over 70 percent to SEK 5,776 thousand (3,374). The improvement in earnings is particularly encouraging given our larger organization, increased expenses following the acquisitions and certain non-recurring expenses.
Our business is built on three complementary areas – Analytics, Genomics and Proteomics – all of which contributed to the quarter’s performance.
The established Analytics business continued to perform well during the quarter. Excluding services, product sales grew by approximately 18 percent, supported by healthy demand across several customer segments. Performance was particularly strong in North America, while Europe was slightly weaker than in the prior year, which we believe primarily reflects project-related fluctuations at major pharmaceutical companies. Asia continued to grow.
The services business remained weak during the quarter. This business is project-based and concentrated among a small number of customers, resulting in uneven revenue. However, we are now seeing increased activity in enquiries and requests for quotations at the start of the fourth quarter, which is an encouraging sign.
Within Analytics, we continue to develop the commercial opportunities for our ADC technologies. During the quarter, we strengthened our relationships with several CROs and CDMOs, which play an important role as drug development projects progress towards clinical development and manufacturing. In parallel, discussions continue with customers evaluating our technologies for their clinical programmes. Development remains at an early stage, but our progress strengthens the prospects for establishing new revenue streams from licensing and commercial manufacturing over time.
Genomics continued to perform exceptionally well and once again delivered its strongest quarter to date, with sales more than doubling compared with the previous quarter. The largest single driver was substantial OEM sales to a kit manufacturer that incorporates SEQURNA technology into its products. At the same time, SEQguard™ continued to grow, with broad demand from leading academic institutions, largely through our collaboration with Plasmidsaurus. In September, SEQguard achieved its highest monthly sales volume to date.
During the quarter, Genomics reached an important milestone, with rolling 12-month sales well above SEK 10 million. OEM sales can vary considerably between quarters, but this performance demonstrates how the technology can drive growth through both major industrial partnerships and an expanding academic customer base. Overall, Genomics has performed ahead of our expectations and is increasingly establishing itself as an important contributor to Genovis’ future growth.
In our Proteomics business the integration of KPL made significant progress during the quarter. Within a short period, we successfully transferred and established production at Genovis while broadening our commercial offering in Proteomics. Towards the end of the quarter, we launched TrypsINATOR™ and TrypsINATOR™ Mix, two products added through the acquisition, and received the first orders during the quarter. At the HUPO congress in late September, we also introduced the new enzyme KRysin™, which attracted considerable interest. Together, these products strengthen our offering in mass spectrometry-based protein analysis and create new opportunities for long-term growth in Proteomics.
Our own innovation platform also continues to deliver. AlligBAITOR™, launched at the end of the second quarter, has been well received by the market and has shown promising sales development since launch.
Overall, the third quarter saw our broader business begin to demonstrate its strength, with strong growth, improved profitability and clear progress in both Genomics and Proteomics. We enter the final quarter of the year with a broader product portfolio and a more diversified business than ever before.
Finally, I would like to extend a special thank you to all Genovis employees for your commitment and contributions during the quarter. Completing the transfer of production from KPL within a single quarter required considerable effort, flexibility and close collaboration across the organization. This is an achievement of which I am particularly proud, and one that demonstrates the strength of our organization. It is also encouraging to see how our colleagues from KPL have become an integral part of Genovis. Alongside the integration, the rest of the business has continued to perform strongly. Through our shared commitment and collaboration, we can continue to develop Genovis and create long-term value for our customers, employees and shareholders.