Novacyt S.A. Final Results, Full year revenue and EBITDA

Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT), a clinical diagnostics company, has announced its audited results for the year ended 31 December 2022.

Operational highlights include:

  • Completion of the development of genesig™PLEX, a multiplex gastrointestinal bacterial assay, available as a research-use-only test (RUO)
  • Development and relaunch of two single analyte transplant viral assay panels for the Epstein-Barr virus and BK virus for use on open instrument platforms
  • Augmentation of the product portfolio with the addition of over 40 CE marked in vitro diagnostic (IVD) assays through a third-party distribution agreement with Clonit srl
  • International launch and UK Coronavirus Test Device Approvals (CTDA) approval of genesig™ Real-time PCR SARS-CoV-2 genesig™ Winterplex panel covering RSV, Flu A&B, and COVID-19
  • Relaunch of the RUO portfolio globally and developed Monkeypox and Adenovirus F41 RUO assays to support infectious disease monitoring
  • Six UK CTDA approvals in the year (including genesig™ Winterplex multiplex panel), taking the total number of Novacyt products approved by the CTDA to seven, the most of any UK-based company
  • CE marked two lyophilized PROmate™ products, enabling deployment of near-patient COVID-19 diagnostic solutions without the need for cold-chain shipping
  • CE marked PathFlow™ COVID-19 Rapid Antigen Self-Test received, one of the first saliva-based COVID-19 assays to be launched in the EEA and providing diagnosis of symptomatic and asymptomatic individuals in approximately 15 minutes
  • Launched and CE marked CO-Prep™ Automated Liquid Handling System and completed validation of a nucleic acid extraction system to enhance post-COVID-19 integrated sample-to-result molecular workflow solution
  • Launched two new lateral flow test (LFT) readers for use in conjunction with a broad range of assays within Novacyt’s Pathflow™ product portfolio, consisting of 18 non-COVID-19 products across sexually transmitted, gastrointestinal, respiratory, and insect-borne infections
  • Partnered with a global fisheries company to develop solutions for testing infectious salmon anaemia virus and bacterial kidney disease
  • Signed a contract with a leading global non-governmental organization (NGO) to support the detection of arboviruses, including dengue, Zika, and Chikungunya
  • Partnered with a leading healthcare company in India to develop and supply both reagents and instrumentation
  • CE marked both q16 and q32 instruments
  • Validation of third-party Respiratory Infection Assays largely completed in Q1 as planned
  • Exclusive development agreement with Eluceda Ltd to develop novel biosensor technology in the fields of human and animal in vitro diagnostics, life science research, and animal speciation
  • Completion of the development of several RUO multiplex assays across gastrointestinal, respiratory, and insect-borne viruses
  • Sales to leading global NGO continues to gain momentum covering West Nile Fever, Hepatitis A & E, haemorrhagic fever, and arboviruses (CHIK/DENG/ZIKA) with orders in excess of £150k.

Financial highlights include:

  • Group revenue for FY2022 was £21.0m (FY2021: £92.6m), due to the expected decline in COVID-19 related sales.
  • Revenue from COVID-19 products in 2022 totaled £14.7m (FY2021: £84.0m)
  • Revenue for the non-COVID-19 portfolio in 2022 totaled £6.3m (FY2021: £8.6m).

Novacyt, a specialist in clinical diagnostics, has announced its audited results for the year ended 31 December 2022. The company focused on expanding its infectious disease product portfolio beyond COVID-19 to sustain the long-term growth of the company. In addition, it successfully relaunched its core RUO business, developing new assays to support infectious disease monitoring, and strengthened its instrumentation business.

The company’s CEO, James McCarthy, stated that Novacyt is well-positioned for future growth and value creation as they move past the pandemic and continue its journey to become a leading global clinical diagnostics company focused on both existing and unmet needs in infectious diseases.

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