Denmark's ViroGates nine-month revenue jumps 75% on US partner orders
Overview
Denmark medical diagnostics firm's nine-month revenue rose 75%, driven by U.S. partner orders
Operating loss narrowed for the period as expenses declined
Company maintains 2026 guidance and shifts focus to scalable partnerships
Outlook
ViroGates maintains 2026 revenue guidance at DKK 6.5-8 mln and EBIT at DKK -10 to -12 mln
Company expects no revenue impact in 2026 from ongoing FDA process for suPARnostic TurbiLatex
Decision on IVDR validation for suPARnostic POC+ expected in Q1 2027; approval could take one year
Result Drivers
U.S. PARTNER ORDERS - Revenue growth was largely due to its U.S. commercial partner taking delivery of minimum order under 2024 distribution agreement in Q2
SLOWER Q3 SALES - Q3 revenue slowed as expected after U.S. partner stocked up in Q2
BUSINESS MODEL SHIFT - Shift to larger, scalable partnerships is underway, with new VP of Business Development appointed and partner portfolio under review
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
9M Revenue | DKK 6.21 mln | ||
9M Net Loss | DKK 5.68 mln | ||
9M Operating Expenses | -DKK 11.65 mln | ||
9M Operating Profit | -DKK 6.64 mln |
Reuters Recommended Reads
Nov 2 - Denmark medical devices maker Coloplast's Q4 revenue rises
Nov 5 - Danish biotech firm Genmab's nine-month revenue up on higher royalties and product sales
Nov 3 - SOPHiA GENETICS Q3 revenue rises on US market strength
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)