Centogene announces preliminary full Year 2023 revenue

Centogene N.V. announced preliminary unaudited revenue for full year 2023 between approximately €48.5 million and €49.0 million, reflecting a growth rate over 2022 in the mid-single digits.

“2023 was a year of focus and transformational changes for CENTOGENE. We strengthened our leading Diagnostic portfolio and launched additional data and wet lab solutions to accelerate drug discovery, development, and commercialization for Pharma. We also expanded our partnership model with the formation of a new joint venture (JV) in Saudi Arabia to provide state-of-the-art genomic and multiomic testing services. Under this collaboration, we received $10 million in upfront JV milestone payments, following an initial $30 million investment into CENTOGENE. In the second half of 2023, we experienced a lag in Pharma program timelines, which impacted our full year 2023 Pharma segment revenue. Our Diagnostics business grew in line with the industry,” said Kim Stratton, Chief Executive Officer at CENTOGENE. “Heading into 2024, our Pharma orderbook is set to hit new record levels. We attribute our strong pipeline of Pharma orders in 2024 to the investments made in building a fully resourced commercial team in our Pharma business. In addition to pipeline growth, we have extended our relationships with existing biopharma partners, as well as formed collaborations with 10 new partners.”

More details will be available when the Company releases its annual financial results for the full year 2023 on form 20-F. The Company expects to report its full year 2023 results in April, at which time the Company will discuss its 2023 financial results in more detail.

The Company’s unaudited, preliminary 2023 revenue results are based on current expectations and may be adjusted as a result of, among other things, completion of annual audit procedures. This financial information does not represent a comprehensive statement of the Company’s financial results for the second half and full year 2023 and remains subject to the completion of financial closing procedures and internal reviews.

Cautions regarding preliminary estimates
The foregoing preliminary financial information reflects management’s current expectations with respect to the Company’s financial results for its second half and full year 2023. Such preliminary financial information is subject to the finalization and closing of the accounting books and records of the Company, which have yet to be fully performed, as well as completion of audit procedures by the Company’s independent public accountants. Accordingly, the foregoing preliminary financial information should not be viewed as a substitute for full, audited annual financial statements prepared in accordance with applicable accounting standards. In the course of preparing and finalizing the Company’s financial statements for the full year ended December 31, 2023, these preliminary estimates will be subject to change, and the Company may identify items that will require it to make adjustments to such estimates. For these or other reasons, these preliminary financial estimates may not ultimately be indicative of the Company’s results for its second half and full year ended December 31, 2023, and actual results may differ materially from those described above. No independent registered public accounting firm has reviewed, examined, or performed any procedures with respect to, nor have they expressed any form of assurance on, these preliminary estimated results.
MB Bureau