ViroGates announces adjusted financial guidance for 2022 and 2023
COMPANY ANNOUNCEMENT - No. 28-2022 – Inside Information - 16 December 2022
BIRKERØD, DENMARK – ViroGates A/S, a medical technology company developing blood tests for better triaging in hospitals to improve patient care and reduce healthcare costs, today announces its adjusted financial guidance for 2022 and 2023.
ViroGates expects to deliver per the 2022 financial guidance announced in June 2022. Revenue is expected to be at the lower end of the guidance range due to a milder COVID-19 variant and, subsequently, less suPARnostic® testing than expected. EBIT is expected to be at the higher end of the guidance range due to cost optimization through H2.
ViroGates expects full-year revenue of approximately DKK 10 million in 2022 (previously DKK 10 to 13 million) and EBIT of approximately DKK -11 million in 2022 (previously DKK -11 to -14 million).
ViroGates expects full-year revenue between DKK 14 to 17 million in 2023 (previously DKK 17 to 21 million) due to less COVID-19 testing expected next year and EBIT of approximately DKK -8 to -11 million in 2023 (previously no guidance).
ViroGates’ strategic objective of becoming cash flow positive during 2024 is maintained.
Jakob Knudsen, CEO of ViroGates, says: “I am proud of the team for delivering strong revenue growth for the third consecutive year in a row in highly turbulent times for emergency departments globally. We continue to work hard on converting the previous COVID-19 customers to emergency department customers while increasing awareness and implementation of suPARnostic® in general across Europe. We have high expectations for the year to come.”
For further information, please contact:
CEO, Jakob Knudsen
Tel. (+45) 2226 1355, email: [email protected]
Västra Hamnen Corporate Finance
Tel. (+46) 40 200 250, email: [email protected]
ViroGates A/S is an international medical technology company developing and marketing blood test products under the suPARnostic® brand for better triaging in hospitals to improve patient care, reduce healthcare costs and empower clinical staff.
The company was founded in 2000. Headquartered in Denmark, ViroGates’ sales force covers the Nordics, Spain, and France, while distributors serve other markets. ViroGates’ shares (VIRO) are listed on Nasdaq First North Growth Market Denmark. For more information, please visit www.virogates.com.
About suPAR and suPARnostic®
suPAR is the biomarker detected by ViroGates’ suPARnostic® products and is a protein in plasma, measurable in every human being. suPAR is considered a general risk status biomarker indicating disease presence, disease severity and progression, organ damage and mortality risk across disease areas such as cardiovascular diseases, kidney diseases, type 2 diabetes, cancer, etc. Strong scientific evidence from more than 850 clinical trials and studies show that the higher the level of suPAR, the worse the prognosis for the patient.
The suPARnostic® products can be used to support healthcare professionals in making clinical decisions on hospitalization or discharge of acute care patients. The increasing demands on health systems globally and tightening healthcare budgets necessitate efficiency improvements and innovative solutions in hospitals. The use of suPAR in clinical routine in emergency departments can improve patient care and reduce healthcare costs by increasing the number of discharges by up to 34% and reducing the average hospital length-of-stay by up to 6% without affecting mortality. suPARnostic® TurbiLatex is currently available on Roche Diagnostics’ cobas® instruments, Siemens Healthineers ADVIA® XPT and Atellica® instruments and the Abbott Labs Architect™ and Alinity™ instruments. ViroGates works with partners to develop solutions for other platforms.
Prospects about the future reflect ViroGates' current expectations for future events and results. The statements are by nature inherent in risks, uncertainties and other matters that are difficult to predict or out of control. The actual results may therefore differ from the expectations expressed.
- Jakob Knudsen, CEO, +45 2226 1355, [email protected]