Genovis AB (publ.) GENO

First North | Biotech | Enzymes for protein analysis
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Updated: 19 Sep 2026 Base analysis: 20 Aug 2026

The news check keeps the assessment current.

General analysis — not personal advice.

The founder owns or has owned shares in this company within the past 6 months. See About.

HOLD Partly clear

Existing position can be maintained pending clearer margin trends in upcoming reports.

Stable growth and a strong cash position are balanced by currency pressure and integration risks, supporting a neutral stance.

Market sentiment Neutral →
Trend: Stable

The market is neutral to slightly positive with focus on underlying growth despite currency headwinds and one-off costs.

Risk assessment Medium
Dilution: Low Strong cash position and positive cash flow
Jurisdiction: Low Operations in Sweden, Denmark and USA
Execution: Medium KPL ApS integration requires flawless execution
Cash flow: 24 mo

HOLD is the call. Neutral is the market mood. Medium risk means some things can go wrong.

Latest change
  • 20 Aug 2026 — ▲ Signal shifts to hold as stable growth and strong cash are offset by currency headwinds and integration risks.

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About the company

Genovis develops and sells SmartEnzymes and antibodies for protein analysis, diagnostics and development of biological drugs. The company is in a growth phase with focus on organic expansion and acquisitions such as KPL ApS. Operations feature high gross margins and positive cash flow.

Sector: Enzymes for protein analysis
Type: Biotech
Next report (Q3)
10 Nov 2026
Catalysts
●
10 Nov 2026
Q3 report High
○
Q4 2026
New enzyme launches Medium
Bull case

Strong adjusted EBITDA and new products provide momentum ahead of the Q3 report.

Bear case

Currency headwinds and one-off costs weigh on reported results.

Sensitivity analysis
Factor If it weakens If it strengthens
KPL ApS integration Delayed integration → lower margin improvement than expected during 2026-2027. Rapid integration → higher revenue growth and margin expansion from H2 2026.
New enzyme launches Fewer launches than planned → weaker organic growth in the protein analysis segment. Multiple successful launches → increased demand and broader customer base.
SEK/USD-EUR exchange rate Stronger krona → continued pressure on reported revenue and earnings. Weaker krona → higher reported growth and improved profitability.
Why this signal

Stable growth and a strong cash position are balanced by currency pressure and integration risks, supporting a neutral stance.

Recent news
  • Arctic Securities initiated coverage with Buy and a 28 SEK target price. Discussions are ongoing regarding potential share buybacks following regulatory changes on First North.

Key figures

Revenue
Q2 2026
SEK 34.3M
Revenue TTM
TTM
SEK 139M
EBITDA
Q2 2026
SEK 6.8M
Net income
TTM
SEK 5.0M
Total debt
FY 2025
SEK 73.1M
Gross margin
TTM
92.0%
Shares outstanding
Q2 2026
65.5M
EPS
TTM
SEK 0.08
Exchange
First North
Type
Biotech
Sector
Enzymes for protein analysis
Genovis AB (publ.) GENO
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