Core Insights - Centogene N.V. reported a total revenue growth of 2% for FY2023, reaching €48.5 million, compared to €47.5 million in FY2022 [1][3] - The company expects a revenue growth of 10-15% for FY2024, driven by its Pharma business and solid growth in Diagnostics [1][8] - Centogene is engaged in a strategic alternatives process aimed at sustainable long-term value creation for stakeholders [1][9] Financial Performance - Diagnostics segment revenues increased by 8% to €33.7 million, with CentoXome® and CentoGenome® contributing significantly [3] - Pharma segment revenues decreased by 8% to €14.8 million due to delays in Pharma program timelines [3] - The overall gross profit margin decreased to 36% in FY2023, down from 42% in FY2022, resulting in a gross profit of €17.2 million [3] - The net loss increased by 12.2% to €35.8 million in FY2023 compared to €31.9 million in FY2022 [3] Strategic Developments - The company secured approximately $20 million from Lifera, enhancing its cash position and expanding its partnership [1][4] - A joint venture, Lifera Omics, was formed to improve access to genomic testing in Saudi Arabia and the GCC region [4] - Centogene expanded its Biodatabank to over 850,000 patients, with a significant portion being of non-European descent [4][11] Research and Collaborations - In FY2023, Centogene led 48 collaborations with 34 pharmaceutical partners, including new partnerships and extended existing ones [5] - The company published over 30 peer-reviewed scientific publications, contributing to advancements in understanding various rare and neurodegenerative diseases [4][7] Diagnostics Innovations - The company received approximately 81,500 test requests in FY2023, marking an 18% increase from the previous year [6] - Centogene launched new diagnostic tools, including the CentoGenome® for rare diseases and the FilterTool for genetic analysis [6][7] Cash Position - Cash and cash equivalents decreased to €19.1 million as of December 31, 2023, down from €35.9 million in the previous year [3][19]
CENTOGENE Reports Full Year 2023 Financial Results and Recent Business Highlights