This article first appeared on GuruFocus .
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Revenue:SEK62 million, up from SEK55 million in the same quarter last year, a 13% increase.
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Revenue Growth in Fixed Currencies:24% growth.
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Gross Margin:82%, an improvement over the full year 2025.
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EBIT:Positive SEK2.6 million, compared to a negative SEK14.8 million in the previous year.
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Cash Position:SEK75 million at the end of the quarter.
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Cash Flow from Operating Activities:SEK12 million positive for the quarter.
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North America Sales Contribution:20% of total sales.
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Release Date: April 27, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
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Devyser Diagnostics AB ( STU:OL0 ) reported a positive EBIT for the fourth consecutive quarter, indicating a successful focus on profitable growth.
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The company achieved a 24% growth in fixed currencies, outpacing the market.
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Gross margin improved to 82%, surpassing the full year 2025 margin, reflecting effective cost management.
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The acquisition of Cybergene is expected to strengthen Devyser's commercial position and contribute positively to gross profit and margin.
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A significant agreement with Illumina was signed, providing opportunities for reagent rental in the European market, which is expected to drive future growth.
Negative Points
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EMEA reported slower growth in Q1, indicating regional performance fluctuations.
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The ongoing conflicts in the Middle East have impacted distributor sales, although the company managed to ship according to plan.
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There is uncertainty regarding the timing and impact of orders from Thermo Fisher, affecting revenue visibility.
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The MolDX application for a post-transplant kidney test in the US is still pending, with approval expected by year-end, creating uncertainty in market expansion.
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The reagent rental model with Illumina may result in lower margins in the short term, despite potential for increased top-line sales.
Q & A Highlights
Q: Can you quantify the smaller orders from Thermo Fisher in Q1, and should we expect fewer orders in Q2? A: I cannot provide exact numbers for future orders, but receiving orders in Q1 is a positive sign, indicating a potential trend towards less variability in order patterns.
Q: How important is obtaining MolDX reimbursement for growth beyond current levels? A: Obtaining MolDX approval is crucial for reaching more customers in the US, especially in the transplant business. We aim to have this approval by year-end, but it's challenging to quantify its impact as it's a new business model.
Q: How is the collaboration with Quest evolving, especially regarding RHD screening test coverage in the US? A: The collaboration with Quest is progressing well, and obtaining RHD coverage is positive, mainly benefiting our CLIA lab. We are optimistic about expanding our product portfolio with Quest.
Q: Can you elaborate on the financial impact of the Illumina collaboration, particularly regarding margins and growth? A: The Illumina collaboration offers growth opportunities, though it may slightly reduce margins in the short term. However, it will enhance top-line sales and overall profitability per customer. We see strong interest across Europe and will provide more details as agreements are finalized.
Q: What is the outlook for growth and new product launches for the rest of the year? A: We launched the CFTR product for IVDR in Q4 and Thalassemia in Q1, both seeing good uptake. CFTR is significant for us, and we are working on additional product launches for the second quarter and beyond.
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
