IntegraGen: 2024 Half-Year Results - Sales up 6% on a Like-for-Like Basis (Excluding SeqOIA) and Profitability Maintained
October 17 2024 - 12:29PM
Business Wire
- Revenue growth for the Évry laboratory activities
- Restructuring and cost reduction plan implemented after
cessation of services to SeqOIA in February
- Overall profitability remained stable
Regulatory News:
IntegraGen (FR0010908723 - ALINT - PEA PME eligible), an
OncoDNA Group company specializing in cancer and rare genetic
disease genomics, and providing genomic analyses for both academic
and private clients, today announced its unaudited results for the
first half of 2024, following approval by the Board of Directors on
October 15, 2024
Bernard Courtieu, Chief Executive Officer of IntegraGen,
comments: “The first half of 2024 was marked by intensified
commercial efforts focused on genomic services from Évry, along
with the implementation of a strategic restructuring plan, which
became necessary following the cessation of activities with GCS
SeqOIA. These initiatives resulted in a 6% increase in sales
(excluding SeqOIA) and an improvement in net income compared to the
same period in 2023.”.
We anticipate an acceleration of our growth thanks to the
ongoing acquisition of customers in the pharmaceutical sector. In
January, we obtained CLIA (Clinical Laboratory Improvement
Amendments) certification from the CMS (Centers for Medicare &
Medicaid Services), paving the way for us to provide services to
the pharmaceutical industry, notably for the clinical development
of innovative treatments in oncology”.
Financials
- Simplified profit & loss statement
In Euro thousands
June 30th,
June 30th,
2024
2023
Delta
Revenues
4.570
6.088
-25%
Of which SeqOIA
727
2.200
-67%
Operating subsidies and other income
269
151
78%
Total income
4.839
6.239
-22%
Operating expenses
-5.195
-6.528
-20%
Gross operating income
-356
-289
23%
Depreciation, amortization and
provisions
-54
-102
-47%
Operating income
-410
-391
5%
Net financial expense
40
29
38%
Exceptional items
219
14
Income tax
36
87
Net income
-115
-261
56%
Total income totaled €4,839k, down 22% compared to the
first half of 2023, a reduction mainly due to the discontinuation
of services provided to the SeqOIA platform, which ended on
February 28. Excluding SeqOIA, sales rose by 6.4% over the period,
excluding exceptional items linked to the shutdown of the platform,
such as the sale of hardware and associated LIMS software.
Operating expenses amounted to €5,195k, down 20% compared to
the first half of 2023. This substantial reduction is primarily
the result of the restructuring plan carried out between late 2023
and early 2024, aimed at mitigating the loss of SeqOIA-related
revenues, as well as significant savings on external expenses, such
as the optimization of cloud IT costs.
The increase in revenues, excluding SeqOIA, along with the cost
reduction program, resulted in an EBITDA loss of -€356k, compared
to -€289k in the first half of 2023.
After accounting for financial and exceptional items, net income
showed a loss of -€115k, compared to -€261k in the first half of
2023, reflecting a 56% improvement.
The exceptional items are mainly related to the transfer of
equipment from the platform to GCS SeqOIA.
ASSETS
In € thousands
June 30th, 2024
Dec 31st, 2023
Non-current assets
243
316
Inventories
334
311
Trade receivables
2.072
2.960
Other receivables
1.656
1.535
Cash and cash equivalents
1.907
2.879
Current assets
5.970
7.684
Adjustments
4
TOTAL ASSETS
6.217
8.000
LIABILITIES
In € thousands
June 30th, 2024
Dec 31st, 2023
Shareholders' equity
1.895
2.011
Provisions for liabilities and charges
4
157
Financial debt
869
1.125
Operating liabilities
2.107
2.915
Other liabilities
1.342
1.784
adjustments
9
TOTAL LIABILITIES
6.217
8.000
The cash position at the end of June 2024 was €1,907k, a
decrease of €971k compared to December 31, 2023. Additionally, the
net position does not include the €1m loan granted to OncoDNA in
August 2023, which is due for repayment in October 2024, along with
6.5% annual interest.
ABOUT INTEGRAGEN
IntegraGen is an OncoDNA group company specializing in the
genomics of cancer and rare genetic diseases. Backed by highly
competent and qualified teams, IntegraGen is a leading player in
DNA sequencing services and genomic data interpretation software.
The company runs one of the largest NGS labs in France and operates
for research institutes of excellence. As part of OncoDNA group,
IntegraGen leverages the power of next generation sequencing with
the mission of delivering the promise of precision medicine to
patients. IntegraGen has about 42 employees and generated €12.5
million of turnover in 2023. Based in France, IntegraGen is part of
the Belgian OncoDNA group present in Spain, UK, Germany and works
with an international network of 35 distributors. The Group also
provides biomarker testing and clinical interpretation tools to
guide treatment and monitoring of late stage solid tumors and
accelerate the development of new cancer drugs.
IntegraGen is listed on Euronext Growth in Paris (ISIN:
FR0010908723 – Mnemo: ALINT – Eligible PEA- PME).
For further information, please visit www.integragen.com or
connect with us on LinkedIn or Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20241017349158/en/
IntegraGen Bernard COURTIEU Directeur Général
contact@integragen.com Tél. : +33 (0)1 60 91 09 00
NewCap Relations Investisseurs Louis-Victor
DELOUVRIER integragen@newcap.eu Tél. : +33 (0)1 44 71 98 53
Integragen (EU:ALINT)
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