Olink(US:OLK)2023-02-20 16:00Revenue Growth - Total revenue for Q4 2022 was $57.9 million, representing a year-over-year growth of 33% and full year 2022 revenue grew 47% to $139.8 million[4]. - Kits revenue for Q4 2022 grew 100% to $30.6 million, accounting for 53% of total revenue, with full year 2022 kits revenue totaling $55.1 million, a 106% increase[5]. - Analysis services revenue for Q4 2022 was $23.4 million, a slight decline of 1% year-over-year, but full year 2022 analysis service revenue grew 21% to $73.0 million[6]. - Olink expects 2023 full year reported revenue to be in the range of $192 million to $200 million, representing growth of approximately 37% to 43%[19]. - Revenue for the twelve months ended December 31, 2022, was $139,848,000, representing a 47% increase compared to $94,973,000 in 2021[27]. - Constant currency revenue growth for the twelve months ended December 31, 2022, was 53%, after accounting for a 6% foreign exchange impact[33]. Profitability - Net income for Q4 2022 was $5.4 million, compared to a net loss of ($8.0) million in Q4 2021, with adjusted EBITDA of $14.9 million[10]. - The company anticipates returning to profitability in 2023, as measured by EBITDA excluding share-based compensation expenses[20]. - Net income for the period attributable to shareholders of the Parent was $5,430,000 for the three months ended December 31, 2022, compared to a net loss of $7,972,000 in the same period of 2021[27]. - Operating income for the three months ended December 31, 2022, was $8,178,000, a significant improvement from an operating loss of $7,791,000 in the same period of 2021[33]. Expenses and Investments - Total operating expenses for full year 2022 were $125.1 million, an increase from $102.9 million in 2021, primarily due to investments in commercial organization and R&D[15]. - Research and development expenses for the twelve months ended December 31, 2022, were $26,345,000, compared to $22,141,000 in 2021[27]. Gross Profit - Consolidated gross profit for Q4 2022 was $43.1 million, with a gross profit margin for kits at 87.6%, up from 85.1% in Q4 2021[11]. - Gross profit for the twelve months ended December 31, 2022, was $94,499,000, with a gross profit margin of 67.6%, up from 61.3% in 2021[33]. - Adjusted gross profit for the twelve months ended December 31, 2022, was $97,912,000, with an adjusted gross profit margin of 70.0%, compared to 64.5% in 2021[33]. Customer Installations - Explore customer installations reached 52, with 12 installations in Q4 2022, more than doubling compared to 2021[7]. - Signature Q100 placements reached 91, with 28 placements in Q4 2022, more than tripling compared to 2021[7]. Assets and Equity - Total assets decreased to $476,290,000 as of December 31, 2022, from $539,778,000 as of December 31, 2021[28]. - Cash at bank and in hand decreased to $75,109,000 as of December 31, 2022, from $118,096,000 as of December 31, 2021[30]. - Total equity attributable to shareholders of the Parent decreased to $410,685,000 as of December 31, 2022, from $475,676,000 as of December 31, 2021[28].