CellaVision’s Q1 Profit Hit by EMEA Inventory Reset as New Hematology Solutions Roll Out

CellaVision AB ( (SE:CEVI) ) just unveiled an update.

CellaVision reported a weaker first quarter of 2026, as net sales fell 14.6 percent to SEK 166 million and organic growth declined 6.6 percent, largely due to an inventory reduction by its main EMEA distribution partner and delayed public healthcare tenders in Europe. Profitability also softened, with the EBITDA margin dropping to 24 percent from 34 percent, although cash flow from operating activities remained strong and the balance sheet solid, while the Americas and APAC delivered double-digit organic growth driven by continued adoption of its digital morphology solutions.

Management highlighted that underlying demand for digital cell morphology remains robust and continued to invest in its strategic roadmap, launching a CE-marked Bone Marrow Aspirate application in EMEA, a global software upgrade for its hematology instruments, and advancing Fourier Ptychographic Microscopy for next-generation diagnostics and potential expansion into pathology and cytology. These initiatives are intended to broaden CellaVision’s addressable market, deepen integration with partner Sysmex, and support its positioning as a long-term innovator in digital hematology despite short-term regional volatility in sales.

More about CellaVision AB

CellaVision AB is a medical technology company specializing in digital cell morphology and advanced microscopy solutions for hematology laboratories. Its product portfolio includes automated analyzers, software platforms, reagents, and imaging technologies aimed at digitizing and standardizing blood and bone marrow analysis across markets in the Americas, EMEA, and APAC.

Average Trading Volume: 37,455

Technical Sentiment Signal: Sell

Current Market Cap: SEK3.78B

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