Genovis AB Interim report January – June 2026
Strategic expansion, growth, and strengthened underlying profitability
April – June 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 34,316 (28,871) thousand, representing a growth of 19%, corresponding to 21% when adjusted for currency effects.
- Operating profit before depreciation and amortization (EBITDA) totaled SEK 6,844 (6,036) thousand which was affected by transaction costs of SEK 3,492 thousand related to the acquisition of KPL ApS. Adjusted for these costs, EBITDA amounted to SEK 10,336 thousand.
- Earnings per share totaled SEK 0.02 (0.08) which were affected by transaction costs related to the acquisition of KPL ApS. Adjusted for these costs, earnings per share amounted to SEK 0.07.
- Cash flow from operating activities was SEK 7,906 (-5,400) thousand.
January – June 2026
- Net sales totaled SEK 67,823 (61,163) thousand, representing growth of 11%, corresponding to 19% when adjusted for currency effects.
- Operating profit before depreciation and amortization (EBITDA) totaled SEK 16,354 (14,943) thousand and was affected by transaction costs of SEK 3,492 thousand related to the acquisition of KPL ApS. Adjusted for these costs, EBITDA amounted to SEK 19,846 thousand.
- Earnings per share totaled SEK 0.08 (0.13) and were affected by transaction costs related to the acquisition of KPL ApS. Adjusted for these costs, earnings per share amounted to SEK 0.14.
- Cash flow from operating activities was SEK 24,417 (5,251) thousand.
Message from the CEO
The second quarter was characterized by strategic expansion. We completed the acquisition of KPL, launched new products across several parts of the business and strengthened underlying profitability. The reported figures were affected by one-off costs related to the acquisition, but beneath the surface, they reflect a broader and more resilient business.
Net sales amounted to SEK 34,316 thousand (28,871), an increase of 19 percent compared with the corresponding period last year, or approximately 21 percent adjusted for currency effects.
Reported operating profit was affected by transaction-related one-off costs of approximately SEK 3.5 million associated with the acquisition of KPL. At the same time, underlying profitability strengthened significantly. Adjusted EBITDA amounted to SEK 10,336 thousand (6,036), corresponding to a margin of approximately 30 percent, while adjusted EBIT nearly doubled compared with the previous year. The acquisition will also result in increased depreciation and amortization of approximately SEK 0.7 million per quarter going forward. Excluding the one-off items, the underlying profitability trend was very strong and confirms the resilience of our business model during a period of strategic expansion.
Genovis is built on enzyme technologies used across three complementary areas:
- protein analysis and drug development
- Genomics based on our RNase inhibitor technology
- Proteomics with a growing offering following the acquisition of KPL
The established analysis business performed strongly during the quarter. Excluding the service business, product sales grew by approximately 20 percent, or approximately 22 percent adjusted for currency effects. Demand was healthy across several customer segments, with growth among both large pharmaceutical companies and biotechnology companies. The service business, however, was significantly weaker than in the corresponding quarter last year. As it is project-based, revenue varies between quarters, but we continue to see good opportunities to develop the business.
Genomics performed very strongly during the quarter and delivered its best quarter to date. Sales of SEQguard were the clearest growth driver and gained broad traction among leading academic institutions, largely through our partnership with Plasmidsaurus. At the same time, the business is broadening and becoming less dependent on individual large customers, making it more resilient. Genomics is on track to become a central part of our future growth.
Within the analysis business, our ADC technologies are currently used primarily for research and method development. We are also seeing growing interest in applying the same technologies to the development and manufacturing of new ADC therapeutics. Over time, this creates an opportunity to complement our product sales with licensing revenue and recurring revenue linked to commercial manufacturing. We are currently engaged in discussions with several customers that are evaluating our technologies for their clinical programs. This development remains at an early stage but represents a significant long-term growth opportunity.
During the quarter, we also continued to strengthen our platform. The acquisition of KPL on June 1 broadens our product portfolio and customer base within Proteomics and strengthens our position in an attractive market with favorable long-term growth prospects.
We also continue to develop our innovation platform. On June 26, we launched AlligBAITOR — a new product for antibody enrichment and native antigen release — and received the first orders before the end of the quarter, confirming early market interest.
Overall, the second quarter represented an important step in Genovis’ development. We strengthened underlying profitability while continuing to broaden the business and create the conditions for sustained long-term growth.
A quarter of this magnitude places significant demands on the organization, and I would like to extend my sincere thanks to all Genovis employees for your commitment and your ability to deliver during a period of change. I would also like to warmly welcome our new colleagues from KPL. With a broader product portfolio and a more diversified business, I look forward to what we can achieve together during the second half of the year and to the opportunities ahead as we continue to create value for customers and shareholders.
