Publication of interim report January - March 2026
OSLO, NORWAY - May 28, 2026: Genetic Analysis AS ("GA" or the "Company") hereby publishes the interim report for the period January - March 2026. The report is available as an attached file to this release and on the Company's website. Below is a summary of the report.
Ronny Hermansen, CEO of Genetic Analysis, comments:
"The first quarter of 2026 was marked by continued progress for Genetic Analysis, with strong growth in recurring GA-map® kit sales and further advancement of our microbiome-based diagnostics pipeline. The development confirms the relevance of our standardized GA-map® platform and supports our strategy to build scalable revenues through partner laboratories, reagent-kit sales and new diagnostic applications."
*Includes a positive impact from customer pre-payment.
Definitions:
Equity ratio: Shareholder's equity as a proportion of total assets.
Earnings per share: Profit/Loss for the period divided by an average number of shares.
Constant currency: This year's sales converted to NOK by using last year's exchange rates.
Revenues and Gross margin
Sales revenue (excluding grants) reached NOK 3.8 million in Q1 2026, an increase of 60.2% compared to Q1 2025.
Key product sales (GA map® Reagent kits) reached NOK 3.5 million in Q1:
- Up 68.3% in Q1 2026 compared to Q1 2025. The weaker USD against NOK has negatively impacted sales, and thus the underlying reagent kit sales growth has been even stronger.
Gross margin was NOK 2.8 million in Q1 2026, corresponding to a gross margin of 73.2%, compared to NOK 2.0 million and 83.6% in Q1 2025. Gross margin% was negatively affected by the US customs duties and a weaker USD.
Cost of goods sold totaled NOK 1.0 million in Q1 2026, compared to NOK 0.4 million in Q1 2025, and included customs duties of NOK 0.3 million (0 in Q1-25).
EBITDA
EBITDA in Q1 2026 totaled NOK -3.2 million (NOK -3.1 million in Q1 2025).
Cash Flow and Liquidity
- Cash and cash equivalents: NOK 20.0 million on 31 March 2026 compared to NOK 24.0 million on 31 December 2025.
Highlights during Q1 2026
- On February 12, Genetic Analysis announced that its important patent application CA2980637) had been allowed for grant in Canada. The patent covers the Company's unique algorithm for profiling gut microbiota incorporated in the GA-map® technology.
- On February 19, Genetic Analysis announced that its patent application US2017/0369941 had been allowed for grant by the United States Patent and Trademark Office (USPTO). The patent strengthens the protection of GA's proprietary diagnostic technology.
- On March 12, Genetic Analysis announced the launch of GA-map® Dysbiosis Test AInsight, an AI-assisted interpretation platform designed to translate microbiome analysis results into structured and clinically relevant insights, supporting broader adoption of microbiome testing in clinical practice.
Highlights after the end of the period
- On April 30, Genetic Analysis announced its attendance at Digestive Disease Week (DDW) congress in Chicago, May 3 - 5 2026. The company used the meeting to launch AInsight and highlight its upcoming product, GA-map® IBD Precision Dx, a next-generation diagnostic solution for personalized management in inflammatory bowel disease (IBD).
- On May 7, Genetic Analysis announced that the USPTO granted a U.S. patent no. 12,596,121 covering a diagnostic method to assess the likelihood that IBS patients will respond to treatment with a low-FODMAP diet or Faecal Microbiota Transplant (FMT).