BICO Group AB: Strong sales and profitability, and a sharper strategic direction

"We delivered strong reported growth and profitability in Q3, supported by the previously announced SCIENION supply and license agreements. Our desktop instruments and consumables continued to grow while the large-scale integrated Lab Automation project business remained challenging. Due to the prolonged and ongoing challenges, it has resulted in impairment of the remaining goodwill and technology related to Biosero. We continue to exercise cost discipline and strengthen our commercial execution across the Group", says Anders Fogelberg, President and CEO, BICO Group AB. "With the BICO 2030 strategy launch we are sharpening our focus on Precision Biology powered by AI, where we see our strongest competitive positions and the greatest potential to create long-term value. We will concentrate commercial resources, R&D, and capital on these areas, while reducing our exposure to large-scale integrated Lab Automation business. The strategic direction is clear, and our focus now shifts to disciplined execution, improved profitability and cash generation."

July-September 2026 (compared with July-September 2025)

• Net sales amounted to SEK 465.2m (386.9) which corresponds to an increase of 20.2% compared to the corresponding quarter previous year
• Organic sales growth for the quarter amounted to 19.2% (12.3)
• The gross margin amounted to 65.3% (55.0%)
• Adjusted EBITDA amounted to SEK 124.3m (17.0) corresponding to a margin of 26.7% (4.4%)
• EBITDA amounted to SEK 107.3m (4.8) corresponding to a margin of 23.1% (1.2%)
• Net profit/loss for the quarter from continuing operations amounted to SEK -220.4m (-1,107.5) corresponding to earnings per share from continuing operations after dilution of SEK -3.12 (-15.68)
• Cash flow from operating activities amounted to SEK -41.4m (-31.5)

January-September 2026 (compared with January-September 2025)

• Net sales amounted to SEK 1,131.2 (1,045.9) which corresponds to an increase of 8.2% compared
  to the corresponding period previous year
• Organic sales growth for the period amounted to 12.9% (-9.7%)
• The gross margin amounted to 60.2% (52.1%)
• Adjusted EBITDA amounted to SEK 133.0m (-54.1) corresponding to a margin of 11.8% (-5.2%)
• EBITDA amounted to SEK 80.5m (-69.1) corresponding to a margin of 7.1% (-6.6%)
• Net profit/loss for the period from continuing operations amounted to SEK -389.0m (-1,524.6) corresponding to earnings per share from continuing operations after dilution of SEK -5.51 (-21.54)
• Cash flow from operating activities amounted to SEK -50.1m (16.9)

Significant events during Q3 2026

• Changes in the Board of Directors where Board Chair Maria Rankka and Board members Susanne Lithander and Johan Westman stepped down from their board assignment effective July 31, 2026
• Erik Gatenholm was appointed Board Chair of BICO effective July 31, 2026, until a new Board Chair has been elected by the extraordinary shareholders' meeting
• BICO signed long-term Supply and License Agreements as a prolongation of its ongoing business with one of its current customers. The contracts had a positive impact on Q3 2026 revenue of SEK 135m of which SEK 83m is related to supply and license revenues for the non-cancellable five-year period, recognized at a point in time
• Anders Fogelberg was appointed as President and CEO on August 18, effective from September 1. Maria Forss left her position on August 31 and transitioned into a senior advisory role until November 30, 2026
• Impairment of the remaining goodwill and technology of SEK 296m related to Biosero, reflecting a weaker outlook amid declining sales and order intake, and continued challenges in the large-scale integrated Lab Automation project business

Significant events after Q3 2026

• The completion of the integration of Cellenion into SCIENION was announced on October 2, bringing the businesses, technologies, and organizations together under a single brand
• The notice to the Extraordinary General Meeting was sent out on November 3
• BICO launches BICO 2030, the Group's strategy for its next phase of development, with a clear focus on generating sustainable profitable growth. BICO's vision and financial targets remain unchanged, while the strategy sharpens the Group's focus on Precision Biology, where BICO has identified its strongest competitive advantages and opportunities for long-term value creation. The strategy will guide commercial priorities, innovation and capital allocation, including disciplined M&A
• In conjunction with the updated Strategy, BICO is strengthening the Executive management to improve business accountability and support customer centric strategic execution with effect from November 11, 2026. The changes bring business-unit leadership closer to Group decision-making and strengthen the connection between commercial priorities, operations and scientific development. BICO's Executive Management will comprise: Anders Fogelberg, President and CEO, Ewa Linsäter, CFO, Petros Apostolopolos, Managing Director, Lab Instruments, Avijit Minocha, Managing Director, CELLINK and Julian Riba, Chief Technology Officer

Presentation for media and investors
A telephone conference, with the opportunity to ask questions, will be held later today, on November 11, 2026, at 10:00am CET, at which President & CEO Anders Fogelberg and CFO Ewa Linsäter will present the interim report and the main elements of the new BICO 2030 strategy.

Information about presentation and webcast
The presentation will be available on BICO's website from 09:00am CET.
https://bico.com/investors/

If you wish to participate via webcast, please use the link below:
https://bico.events.inderes.com/q3-report-2026/register

If you wish to participate via teleconference, please register on the link below. After registration you will be provided with phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://events.inderes.com/bico/q3-report-2026/dial-in

Invitation to strategy Deep Dive
BICO will provide an in-depth presentation of the BICO 2030 strategy and host a digital Strategy deep dive on November 25 at 09:00 CET: https://bico.events.inderes.com/2030-strategy-deep-dive/register

For further information, please contact:
Anders Fogelberg, President & CEO, BICO Group AB
Phone: EA Elisabeth Lindell, [phone]
E-mail: [e-mail]

Ewa Linsäter, Chief Financial Officer, BICO Group AB
Phone: [phone]
E-mail: [e-mail]

This information is information that BICO Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-11-11 07:00 CET.

About BICO
BICO strives towards the vision to enable life-science labs to accelerate the discoveries that change lives. We do this by empowering scientists to work with biology with greater precision and reproducibility, helping them generate trustworthy results that lead to better-informed decisions.
We focus on cell-based applications in biotech and pharma, including the adoption of advanced 3D cell models.

Through our portfolio of leading brands, we bring together instruments, consumables, software, AI, and application expertise, building on our capabilities in the precise handling, culture and analysis of biological material. We call this Precision Biology.

Founded in 2016, BICO has approximately 500 employees and customers in more than 65 countries, with net sales of SEK 1.5 billion in 2025. BICO is headquartered in Gothenburg, Sweden, and listed on Nasdaq Stockholm (BICO).