IntegraGen

Earnings Release • Oct 17, 2024

PRESS RELEASE – FOR IMMEDIATE RELEASE

2024 half-year results - Sales up 6% on a like-for-like basis (excluding SeqOIA) and profitability maintained

• Revenue growth for the Évry laboratory activities
• Restructuring and cost reduction plan implemented after cessation of services to SeqOIA in February
• Overall profitability remained stable

EVRY, FRANCE, THURSDAY OCTOBER 17, 2024, 5:45 PM - INTEGRAGEN (FR0010908723 - ALINT - PEA PME ELIGIBLE), an OncoDNA Group company specializing in cancer and rare genetic disease genomics, and providing genomic analyses for both academic and private clients, today announced its unaudited results for the first half of 2024, following approval by the Board of Directors on October 15, 2024

Bernard Courtieu, Chief Executive Officer of IntegraGen, comments: "The first half of 2024 was marked by intensified commercial efforts focused on genomic services from Évry, along with the implementation of a strategic restructuring plan, which became necessary following the cessation of activities with GCS SeqOIA. These initiatives resulted in a 6% increase in sales (excluding SeqOIA) and an improvement in net income compared to the same period in 2023.".

We anticipate an acceleration of our growth thanks to the ongoing acquisition of customers in the pharmaceutical sector. In January, we obtained CLIA (Clinical Laboratory Improvement Amendments) certification from the CMS (Centers for Medicare & Medicaid Services), paving the way for us to provide services to the pharmaceutical industry, notably for the clinical development of innovative treatments in oncology".

FINANCIALS

▪ Simplified profit & loss statement

In Euro thousands	June 30th ,	June 30th ,
	2024	2023	Delta
Revenues	4.570	6.088	-25%
Of which SeqOIA	727	2.200	-67%
Operating subsidies and other income	269	151	78%
Total income	4.839	6.239	-22%
Operating expenses	-5.195	-6.528	-20%
Gross operating income	-356	-289	23%
Depreciation, amortization and provisions	-54	-102	-47%
Operating income	-410	-391	5%
Net financial expense	40	29	38%
Exceptional items	219	14
Income tax	36	87
Net income	-115	-261	56%

Total income totaled €4,839k, down 22% compared to the first half of 2023, a reduction mainly due to the discontinuation of services provided to the SeqOIA platform, which ended on February 28. Excluding SeqOIA, sales rose by 6.4% over the period, excluding exceptional items linked to the shutdown of the platform, such as the sale of hardware and associated LIMS software.

Operating expenses amounted to €5,195k, down 20% compared to the first half of 2023. This substantial reduction is primarily the result of the restructuring plan carried out between late 2023 and early 2024, aimed at mitigating the loss of SeqOIA-related revenues, as well as significant savings on external expenses, such as the optimization of cloud IT costs.

The increase in revenues, excluding SeqOIA, along with the cost reduction program, resulted in an EBITDA loss of -€356k, compared to -€289k in the first half of 2023.

After accounting for financial and exceptional items, net income showed a loss of -€115k, compared to -€261k in the first half of 2023, reflecting a 56% improvement.

The exceptional items are mainly related to the transfer of equipment from the platform to GCS SeqOIA.

▪ Balance Sheet

ASSETS

In € thousands	June 30th, 2024	Dec 31st, 2023
Non-current assets	243	316
Inventories	334	311
Trade receivables	2.072	2.960
Other receivables	1.656	1.535
Cash and cash equivalents	1.907	2.879
Current assets	5.970	7.684
Adjustments	4
TOTAL ASSETS	6.217	8.000

LIABILITIES

In € thousands	June 30th, 2024	Dec 31st, 2023
Shareholders' equity	1.895	2.011
Provisions for liabilities and charges	4	157
Financial debt	869	1.125
Operating liabilities	2.107	2.915
Other liabilities	1.342	1.784
adjustments		9
TOTAL LIABILITIES	6.217	8.000

The cash position at the end of June 2024 was €1,907k, a decrease of €971k compared to December 31, 2023. Additionally, the net position does not include the €1m loan granted to OncoDNA in August 2023, which is due for repayment in October 2024, along with 6.5% annual interest.

ABOUT INTEGRAGEN

IntegraGen is an OncoDNA group company specializing in the genomics of cancer and rare genetic diseases. Backed by highly competent and qualified teams, IntegraGen is a leading player in DNA sequencing services and genomic data interpretation software. The company runs one of the largest NGS labs in France and operates for research institutes of excellence. As part of OncoDNA group, IntegraGen leverages the power of next generation sequencing with the mission of delivering the promise of precision medicine to patients. IntegraGen has about 42 employees and generated €12.5 million of turnover in 2023. Based in France, IntegraGen is part of the Belgian OncoDNA group present in Spain, UK, Germany and works with an international network of 35 distributors. The Group also provides biomarker testing and clinical interpretation tools to guide treatment and monitoring of late stage solid tumors and accelerate the development of new cancer drugs.

IntegraGen is listed on Euronext Growth in Paris (ISIN: FR0010908723 – Mnemo: ALINT – Eligible PEA- PME).

For further information, please visit www.integragen.com or connect with us on LinkedIn or Twitter.

CONTACTS

INTEGRAGEN Bernard COURTIEU Directeur Général contact@integragen.com Tél. : +33 (0)1 60 91 09 00

NEWCAP Relations Investisseurs Louis-Victor DELOUVRIER integragen@newcap.eu Tél. : +33 (0)1 44 71 98 53