Core Insights - Centogene N.V. reported a 2% increase in total revenues for FY2023, reaching €48.5 million, compared to €47.5 million in FY2022, despite challenges in Pharma program timelines [6][7] - The company anticipates revenue growth of 10-15% for FY2024, driven by a strong Diagnostics business and a record Pharma order book [2][11] - Centogene is focused on strategic growth, including strengthening its Diagnostic portfolio and expanding partnerships, notably with Lifera, which secured a $30 million investment [2][5] Financial Performance - Total revenues for FY2023 were €48.5 million, a 2% increase from €47.5 million in FY2022 [6][7] - Diagnostics segment revenues grew by 8% to €33.7 million, primarily due to an 11% increase in revenues from CentoXome® and CentoGenome® [7] - Pharma segment revenues decreased by 8% to €14.8 million, attributed to delays in Pharma program timelines [7] - The overall gross profit margin decreased to 36% in FY2023, down from 42% in FY2022, resulting in a gross profit of €17.2 million [7] - The net loss increased by 12.2% to €35.8 million in FY2023, compared to a net loss of €31.9 million in FY2022 [7] Strategic Initiatives - The company has initiated a strategic alternatives process to explore options such as asset divestitures and partnerships, with potential transactions expected by July 15, 2024 [12] - Centogene expanded its Biodatabank to over 850,000 patients, enhancing its capabilities in genomic and multiomic testing [10][14] - The company launched new products, including the CentoGenome® tool for rare disease diagnosis and the FilterTool for rapid analysis of genetic variants [10][18] Partnerships and Collaborations - Centogene formed a joint venture with Lifera to enhance access to genomic testing in Saudi Arabia, receiving a $30 million mandatory convertible loan and milestone payments [5][8] - The company has engaged in 48 collaborations with 34 pharmaceutical partners in FY2023, including new partnerships initiated in Q1 2024 [10]
CENTOGENE Reports Full Year 2023 Financial Results and Recent Business Highlights