Moss, 28 April 2022

Gentian Diagnostics ASA, a fast-growing developer and manufacturer of diagnostic
tests, today announced its results for the first quarter of 2022.

Highlights
Sales revenue was MNOK 20.6, up 5% from 1Q21, with organic growth of 6%. Total
operating revenue was MNOK 23.1 in 1Q22.

Sales of third-party products increased by 81% versus 1Q21 with record revenues
of MNOK 2.8. Positive developments continue into Norway, Finland, and Iceland.

New customers established for Cystatin C in the US, a key market for continued
growth.

Post quarter the company announced a distribution agreement with a leading
global diagnostics company for Cystatin C covering the US.

The SARS CoV-2 Antibody assay was commercially launched.

The first GCAL® shipments following the recently initiated commercial
partnership with Siemens Healthineers were executed.

EBITDA was MNOK -4.2 in 1Q22 versus NOK -2.0 in 1Q21.

"During the first quarter, Gentian's commercial strategy and the team's efforts
continued to bear fruits. In late January this year, we secured a global
distribution contract with one of the leading diagnostics companies of the
world, Siemens Healthineers. I'm pleased to report that the initial phase of the
cooperation has been a success, as we were able to deliver the first shipments
to customers under this contract during the quarter," commented Hilja Ibert, CEO
of Gentian Diagnostics.

"The sales growth in the quarter was below our annual target rate of 20%+ for
the established products, impacted by timing of large orders. The underlying
development continues positively, and we expect a strong second half of 2022 in
terms of sales. Importantly, the macro trends supporting increasing demand for
our products remain intact and the positive outlook is further cemented by the
distribution agreement for Cystatin C in the US with a leading global
diagnostics company announced post quarter and geographical expansion of our
third-party products," adds Ibert.

Webcast
Gentian's CEO Hilja Ibert and CFO Njaal Kind will present the results today at
10.00 am, followed by a Q&A session. Join the webcast and submit questions via
the following link:

https://attendee.gotowebinar.com/register/560651297119961358

The webcast will be made available on the company's IR website after the
presentation.


IR contact:

Njaal Kind, CFO and COO
njaal.kind@gentian.no 
+47 919 06 525 (mobile)

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 in the Norwegian Securities Trading Act.

This stock exchange announcement was published by Njaal Kind, CFO at Gentian
Diagnostics ASA, on 28 April 2022 at 08:00 CET.


About Gentian
Gentian Diagnostics (OSE: GENT), founded in 2001, develops and manufactures
high-quality, in vitro diagnostic reagents. Gentian's expertise and focus lies
within immunochemistry, specifically infections, inflammations, kidney failures
and congestive heart failures. By converting existing and clinically relevant
biomarkers to the most efficient automated, high-throughput analysers, the
company contributes to saving costs and protecting life. Gentian is based in
Moss, Norway, serving the global human and veterinary diagnostics markets
through sales and representative offices in Sweden, USA and China. For more
information, please visit www.gentian.com.