SenzaGen’s 2023 Year-End Report: Company approaching breakeven with SEK 50 million in sales

Message from the CEO

“We are pleased to report another successful year. We closed on a historically strong note with our best quarter ever. The high number of quotes that we sent out during the year proved successful, as our sales increased by 20% in the second half of the year. Total sales increased by 19% during the year, reaching nearly SEK 50 million, driven by strong demand for both our core platform, GARD®, and VitroScreen’s pre-clinical efficacy tests. In the second half of the year, we cut our loss in half and are now very close to breaking even. This shows that we are on track to reach the sales volumes and margins required for sustained profitable growth.”

Peter Nählstedt, President and CEO

Full year 1 January–31 December

  • Net sales totaled SEK 49.9 (41.8) million.
  • EBITDA amounted to SEK -10.9 (-15.7) million.
  • Earnings per share were SEK -0.91 (-1.03).
  • Cash and cash equivalents at 31 December amounted to SEK 17.6 (40.0) million.
  • The board proposes that no dividend be paid to the Company’s shareholders.

Second half year 1 July–31 December

  • Net sales totaled SEK 26.3 (21.8) million.
  • EBITDA amounted to SEK -4.1 (-6.6) million.
  • Earnings per share were SEK -0.40 (-0.47).

Significant events during the second half year

  • SenzaGen received a SEK 1.7 million order from a new customer, a global biotech industry leader.
  • SenzaGen secured a strategically important order from a new customer, a world leader in fast-moving consumer goods (FMCG).
  • SenzaGen continued to collaborate with RIFM in non-animal photosensitization and fragrance safety – receiving a new grant worth SEK 1.6 million.
  • SenzaGen was ranked one of Sweden's fastest-growing technology companies according to Deloitte's annual ranking, Sweden Technology Fast 50.
  • SenzaGen strengthened its market presence with expanded distribution channels in France and India.

Significant events after the end of the year

  • SenzaGen received a follow-on order worth SEK 1.5 million for GARD®skin from a customer in the chemical industry.

Livestream presentation
SenzaGen is pleased to invite press and investors to a livestream presentation at 10:00 today on February 14. The presentation will be given by SenzaGen’s President and CEO Peter Nählstedt, followed by a Q&A session. The presentation will be held in Swedish.

Time: Wednesday February 14, 10:00–11:00 CET.
Link to the livestream:

The presentation can be watched afterwards at SenzaGen’s website: