January 6, 2025
Announcement no. 01
Preliminary Financial Figures for the 2024 Fiscal Year
COPENHAGEN, DENMARK, January 6, 2025, (GLOBE NEWSWIRE) - BioPorto A/S CVR-no. 17500317 (BioPorto or Company) (CPH:BIOPOR), an in vitro diagnostics company focused on empowering the early detection of Acute Kidney Injury (AKI), today announced preliminary financial figures for financial year 2024.
Preliminary Financial Figures for the 2024 Financial Year
The revenue for the 2024 financial year was DKK 36.2 million, compared to DKK 31.0 million in the previous year, representing a revenue growth of 17%. The revenue was below the latest disclosed guidance with a target of DKK 40 million.
In the fourth quarter of the 2024 financial year, BioPorto's revenue amounted to DKK 7.9 million, corresponding to a growth of 20% from the year-earlier period.
The full year adjusted EBITDA for 2024 is estimated to be a loss in the range DKK 68-73 million, improving the latest disclosed guidance of a loss of DKK 75-90 million.
Peter Mørch Eriksen, CEO of BioPorto, comments: "Overall I am very satisfied with the preliminary results for 2024. Having a very ambitious revenue target, we managed to deliver solid revenue growth based on increased Research Use Only Sales of NGAL in the US. We look forward to the US commercial launch of the FDA cleared ProNephro AKI (NGAL) this year. For adjusted EBITDA, the improved estimate is primarily due to tight cost control and lower than expected costs related to our clinical study in the US for adult usage of ProNephro AKI (NGAL)."
The above amounts are preliminary and unaudited.
BioPorto is scheduled to release its annual report for 2024 on March 20, 2025.
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For investor inquiries, please contact:
Niels Høy Nielsen, CFO, +45 4529 0000, investor@bioporto.com
About BioPorto
BioPorto is an in vitro diagnostics company focused on saving lives and improving the quality of life with actionable biomarkers - tools designed to help clinicians make changes in patient management. The Company uses its expertise in antibodies and assay development, as well as its platform for assay development, to create a pipeline of novel and compelling products that focus on conditions where there is significant unmet medical need, and where the Company's tests can help improve clinical and economic outcomes for patients, providers, and the healthcare ecosystem.
The Company's flagship products are based on the NGAL biomarker and designed to aid in the risk assessment and diagnosis of Acute Kidney Injury, a common clinical syndrome that can have severe consequences, including significant morbidity and mortality, if not identified and treated early. With the aid of NGAL levels, physicians can identify patients potentially at risk of AKI more rapidly than is possible with current standard of care measurements, enabling earlier intervention and more tailored patient management strategies. The Company markets NGAL tests under applicable registrations including CE mark in several countries worldwide.
BioPorto has facilities in Copenhagen, Denmark and Boston, MA, USA. The shares of BioPorto A/S are listed on the Nasdaq Copenhagen stock exchange. For more information visit www.bioporto.com.
Forward-looking statement disclaimer
Certain statements in this news release are not historical facts and may be forward-looking statements. Forward-looking statements include statements regarding the intent, belief or current expectations with respect to the Company's expectations, intentions and projections regarding its future performance including the Company's Guidance for 2024; currency exchange rate fluctuations; anticipated events or trends and other matters that are not historical facts, including with respect to implementation of manufacturing and quality systems, commercialization of NGAL tests, and the development of future products and new indications; concerns that may arise from additional data, analysis or results obtained during clinical trials; and, the Company's ability to successfully market both new and existing products. These forward-looking statements, which may use words such as "aim", "anticipate", "believe", "intend", "estimate", "expect" and words of similar meaning, include all matters that are not historical facts. These forward-looking statements involve risks, and uncertainties that could cause the actual results of operations, financial condition, liquidity, dividend policy and the development of the industry in which the Company's business operates to differ materially from the impression created by the forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Factors that may impact BioPorto's success are more fully disclosed in BioPorto's periodic financial filings, including its Annual Report for 2023, with the Danish Financial Supervisory Authority, particularly under the heading "Risk Factors".
