Investors

Outlook and guidance

We expect revenue in 2026 to increase to EUR 16.5–17.3 million (growth of 5–10% compared with 2025) and the operating margin to be at least 10%. In 2025, revenue was EUR 15.7 million, with revenue growth of 10.1%. The operating margin was
18.6%.

Underlying assumptions for the guidance

• GastroPanel validations and implementations have consistently taken longer than expected, and it is not realistic to assume that the process will accelerate significantly.

• Despite the extension agreement in 2025, the recognition of royalties from the multi-year distribution agreement signed with Hefei in 2022 is approaching its end. At the current growth trajectory, GastroPanel sales may not be able to compensate for the declining royalties as quickly as originally anticipated.