BioArctic Full Year 2023 Earnings: Beats Expectations

BioArctic (STO:BIOA B) Full Year 2023 Results

Key Financial Results

• Revenue: kr616.0m (up 169% from FY 2022).
• Net income: kr229.2m (up from kr11.2m loss in FY 2022).
• Profit margin: 37% (up from net loss in FY 2022). The move to profitability was driven by higher revenue.
• EPS: kr2.60 (up from kr0.13 loss in FY 2022).

BIOA B Products In Clinical Trials

• Phase I: 2.
• Phase III: 1.

BIOA B Post-Clinical Trial Products

• Pre-registration: 1.
• Approved (during full year): 1.

All figures shown in the chart above are for the trailing 12 month (TTM) period

BioArctic Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 24%.

Looking ahead, revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Biotechs industry in Sweden.

Performance of the Swedish Biotechs industry.

The company's shares are down 2.8% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on BioArctic's balance sheet.

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