Financial information

Financial information

Key figures As at and for the year ended 31 December
2021 2020 2019 2018
(EUR thousand, unless otherwise indicated) (audited) (unaudited, unless otherwise indicated)
Revenue 974(1) 849(1) 639(1) 272(1)
Cash and cash equivalents 38,092(1) 1,912(1) 1,515(1) 3,727(1)
Net debt -35,197 1,295 691 -2,403
Earnings per share, undiluted and diluted, EUR(2) -0.43 -0.21 -0.24 -0.17
Debt-to-equity ratio, % 87 18 13 65

_____________

(1) Audited.

(2) The company’s potential dilutive instruments consist of options. Because the company’s business has been unprofitable, the options would have no dilutive effect on earnings per share calculated on the basis of the loss for the period and therefore have not been taken into account when calculating diluted earnings per share. Because of this, there is no difference between earnings per share adjusted for dilution and undiluted earnings. The number of shares used in the Key figures table is as follows: June 30, 2021: 15,261,181 June 30, 2020: 12,830,050, December 31, 2020: 13,136,640, December 31, 2019: 12,830,050 and December 31, 2018: 12,660,357. Historical figures have been adjusted September 20, 2021 considering the impact of share split.

 

Definitions of the key figures

Key figure Definition Purpose of use
Net indebtedness Loans from financial institutions - cash and cash equivalents Figure describes the total amount of external debt financing
Earnings per share, undiluted, EUR Profit (loss) for the period / weighted average amount of shares outstanding during the period Figure describes the distribution of earnings to individual shares
Earnings per share, diluted, EUR Profit (loss) for the period / weighted average amount of shares outstanding during the period + potential dilutive shares Figure describes the distribution of earnings to individual shares with dilution effect
Debt-to-equity ratio, % Total equity at the end of the period / (Total liabilities at the end of the period - advances received at the end of the period) Figure for management to monitor the level of equity of the company

 

Business objectives

Short-term business objectives

  • obtain a CE-IVD marking for six AI models intended for clinical diagnostics;
  • acquire five customers in clinical diagnostics;
  • acquire ten large customers in the pharmaceutical industry; and
  • reach more than 5,000 users.

Medium-term business objectives

  • create a product offering that covers 80% of the pathologist’s diagnosing workflow;
  • achieve a positive net cash flow from operating activities by the end of 2025;
  • achieve revenue of more than EUR 100 million;
  • reach 20,000 users; and
  • achieve 50 key customer relationships that would generate an annual recurring revenue of EUR 250,000 per customer on average.

Short term refers to the company's business objectives over the next approximately two years. The medium term refers to the company's business objectives over the next approximately seven years.