Q1 2026 CellaVision AB Earnings Call Transcript
Key Points
- CellaVision AB (CLVSF) reported strong momentum in the Americas with 13% organic growth, driven by the adoption of integrated large instruments in the hospital community.
- The company launched the Celevations bone marrow aspirate application after receiving CE mark, with expectations for revenue contributions in the second half of 2026.
- CellaVision AB (CLVSF) introduced a significant software upgrade, enhancing user interface and workflow features, which is expected to improve processing speed and efficiency.
- The company is expanding its presence in the APAC region, with 10% growth and diversification beyond China into Southeast Asia.
- CellaVision AB (CLVSF) maintains a strong cash position with $230 million in cash and cash equivalents, supporting ongoing investments and operations.
- Net sales decreased by 14.6% due to lower sales in EMEA, primarily caused by inventory adjustments with a main distribution partner.
- The company experienced a significant negative growth of 32% in EMEA, attributed to temporary inventory reductions and market uncertainties.
- Operating expenses increased to 51% from 41%, reflecting higher spending and changes in capitalization of development expenditures.
- R&D expenses were elevated at $30 million, with expectations for a decrease in future quarters as capitalization of early-stage projects begins.
- The company faces challenges in the EMEA region due to public funding pressures and delayed tender activities, impacting sales growth.
Welcome to CellaVision Q1 Report 2026.
(Operator Instructions)
Now I will hand the conference over to CEO Simon Ostergaard. Please go ahead.
Thank you very much and thanks for diving in to this quarterly financial call. I have our CFO Monika Junsen with me and we are pleased to present our results and answer any questions you may have subsequent to the presentation.
So we just released the. First quarterly report and it was with a header soft quarter due to lower sales in EMEA.
The quarter resulted in net sales that decreased by 14.6% to a revenue of 166 million.
So that's an organic decrease of 6.6% as we had almost 8% headwind on currency.
EBITDA amounted to $40 million, so that corresponds to 24%.
And as we say in the report, and given the title here, EMEA is affected by inventory adjustments with our main distribution partner, and that is what has caused this significant negative growth compared to the comparable quarter
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