Dignitana AB Publishes Q4 2023 Interim Report

Positive EBITDA, continued growth and high margin

Financial highlights Q4 2023

  • Net sales amounted to 22.2 MSEK (18.6), an increase of 19 percent over the same period in 2022.
  • Operating result amounted to-3.1 MSEK (-3.6).
  • Net result after financial items amounted to-3.7 MSEK (-3.7).
  • EBITDA for the Third Quarter is positive at 674 TSEK (-119).
  • Earnings per share were-0.05 SEK (-0.06).
  • Cash Balance amounted to 7.0 MSEK (6.7).
  • Average Daily Treatment Revenue (ADTR)* was 237 TSEK (203), an increase of 17 percent over the same period in 2022

Financial highlights Full Year 2023

  • Net sales amounted to 86.1 MSEK (73.0), an increase of 18 percent over 2022.
  • Operating Result amounted to-15.0 MSEK (-20.6).
  • Net Result after financial items amounted to-17.4 MSEK (-22.4).
  • EBITDA for the year is positive at 0.1 MSEK (-6.8).
  • Earnings per share were-0.25 SEK (-0.34)

Business highlights during the period

  • Dignitana announced a sales and marketing partnership with InfuSystem to provide scalp in the United States.
  • Seven states in the southeastern United States fall under the Local Coverage Determination issued by Palmetto GBA providing coverage for scalp cooling to Medicare recipients as of November 2023.
  • Dignitana announced the US Centers for Medicare & Medicaid Services will continue to support scalp cooling however at a reduced average rate beginning January 2024.
  • Dignitana AB appointed the Nomination Committee for the 2024 Annual General Meeting

Business highlights after the period

  • Dignitana convenes Training Academy bringing distributors to Lund Headquarters
  • Preliminary results of DigniCap Delta study in Uruguay demonstrate very high efficacy compared to previous studies.
  • Dignitana signs OncoMedical for distribution in Switzerland and Liechtenstein
  • DigniCap Delta received market approval in Japan with Konica Minolta as Dignitana’s Distribution partner

Business highlights Full Year 2023

  • Science International Corporation was announced as Dignitana's distributor in Hong Kong and Macao.
  • Dignitana co-sponsored a scalp cooling session at the Multinational Association of Supportive Care in Cancer conference in Japan along with exhibiting at the conference.
  • A Medicare Local Coverage Determination for Medicare for scalp cooling therapy took effect in seven states in the southeastern US.
  • Five year follow up results from the DigniCap pivotal trial were published in the Supportive Care in Cancer journal demonstrating both safety and efficacy in the first long term study of scalp cooling
  • Dignitanas's partnership with oneservice expanded to provide service in the field to DigniCap customers in Europe.
  • DigniCap Delta was introduced to customers in Mexico by Celeritas, DigniCap’s longtime partner.

Key Figures

DIGNITANA GROUP Q4 2023 Q4 2022  FY 2023 FY 2022
Net sales, TSEK 21,266 20,245 86,063 72 995
Total revenues, TSEK 21,916 21,421 89,025 83 849
Net profit after financial items, TSEK -4,943 -11,996 -17,228 -22 396
Cash and bank balances, TSEK 6,027 8,869 6,027 8 869
Earnings per share before and after dilution, SEK -0.07 -0.17 -0.25 -0.34
verage Daily Treatment revenue, TSEK 238 229 239 203

* ADTR includes pay-per-treatment revenue from patients and facilities in the U.S. Does not include lease revenue or disposable sales.

"With a strong focus on establishing stable operating expenses to support our scale up strategy, we have grown with high margin while reducing loss. Catarina Löwenadler, CEO

All financial reports are available at www.dignitana.com/investor-relations/financial-reports/

This disclosure contains information that Dignitana AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 15-02-2024 08:05 CET.

For More Information Contact 

Melissa Bourestom, Chief Communications Officer,  melissa.bourestom@dignitana.com  +1 469-518-5031

About Dignitana

Dignitana AB is the world leader in clinically superior scalp cooling technology. The company produces The DigniCap® Scalp Cooling System, a patented medical cooling device that offers cancer patients the ability to minimize hair loss during chemotherapy. FDA cleared since 2015, DigniCap provides continuous cooling with high efficacy, safety and patient comfort. Hailed internationally as a life-changing medical advancement for cancer patients, The DigniCap Scalp Cooling System was invented in 1999 by a Swedish Oncology nurse and has been available in Europe since 2001.  Dignitana AB is listed on Nasdaq First North Growth Market in Sweden with headquarters in Lund, Sweden and US operations based in Dallas, Texas in the United States.  Company subsidiaries are Dignitana, Inc. in the United States and Dignitana S.r.l. in Italy. Certified Adviser is Redeye AB. Learn more at www.dignitana.com or www.dignicap.com