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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the date of July 15, 2022

Commission File Number 001-39124

Centogene N.V.

(Translation of registrant’s name into English)

Am Strande 7

18055 Rostock

Germany

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F.... Form 40-F.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Centogene N.V.

On July 15, 2022, Centogene N.V. (the “Company”) issued a press release reporting its financial results for the three months ended March 31, 2022. A copy of the press release is attached hereto as Exhibit 99.1.

Attached hereto as Exhibit 99.2 and 99.3 are also the financial statements of the Company for the three months ended March 31, 2022 and the Management’s Discussion and Analysis of Financial Condition and Results of Operations for the three months ended March 31, 2022, respectively. All exhibits attached hereto are incorporated by reference herein.

Exhibit 99.1 to this Report on Form 6-K shall not be deemed “filed” for purposes of Section 18 of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the U.S. Securities Act of 1933, as amended, or the Exchange Act.

Exhibits 99.2 and 99.3 to this Report on Form 6-K shall be deemed to be incorporated by reference into the registration statement on Form S-8 (Registration Number 333-234551) of the Company and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents or reports subsequently filed or furnished.

2

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

CENTOGENE N.V.

Date: July 15, 2022

By:

/s/ Jose Miguel Coego Rios

Name:

Jose Miguel Coego Rios

Title:

Chief Financial Officer

3

Exhibit Index

Exhibit

    

Description of Exhibit

99.1

Press Release dated July 15, 2022

99.2

Unaudited Condensed Consolidated Interim Financial Statements as of and for the Three Months ended March 31, 2022

99.3

Management’s Discussion and Analysis of Financial Condition and Results of Operations for the Three Months ended March 31, 2022

4

Exhibit 99.1

CENTOGENE Reports First Quarter 2022 Financial Results

On Track for FY 2022 Guidance

Q1 2022 revenue rises 3% to €10.3 million
Completed phase out of COVID-19 Business segment in Q1 2022
Positioning Pharma and Diagnostics for post-COVID recovery and growth in 2022 and beyond
Reaffirms FY 2022 guidance of 15-20% revenue growth

CAMBRIDGE, Mass. and ROSTOCK, Germany, and BERLIN, July 15, 2022 (GLOBE NEWSWIRE)

Centogene N.V. (Nasdaq: CNTG), the commercial-stage essential biodata life science partner for rare and neurodegenerative diseases, today announced financial results for the first quarter ending March 31, 2022, reaffirmed guidance and provided a business update.

“We are on track with our renewed focus on the Core Business. The Diagnostics segment continued to show double digit growth rates year-over-year and is planned to grow faster than the market. We are on target to enhance our Pharma offering – broadening our commercial team, marketing a differentiated product portfolio, and growing the pipeline to return the Pharma segment to steady growth in 2022. We see the extension of the market access partnership with Takeda and the new contract with Agios as important proof points of our biopharma strategy,” stated Kim Stratton, Chief Executive Officer at CENTOGENE. “In the first quarter, we phased out the COVID-19 Business as planned, allowing our organization to pivot and be focused on Core Business execution."

First Quarter 2022 Financial Highlights

Overall revenues of €10.3 million were recorded in Q1 2022, a 3% increase compared to €10.0 million in Q1 2021
Diagnostics segment revenues of €7.1 million in Q1 2022, an increase of 11% compared to €6.4 million in Q1 2021, reflecting the fourth consecutive quarter of year-over-year revenues growth in the segment. The increase in revenues was primarily related to an increase in revenues from Whole Exome Sequencing (WES) and Whole Genome Sequencing (WGS) of 18%
Pharma segment revenues of €3.2 million in Q1 2022, a decrease of 10% compared to €3.6 million in Q1 2021
The COVID-19 Business was phased out in Q1 2022 and reported as discontinued operations. Revenues from the COVID-19 Business were €19.5 million in Q1 2022, compared to €55.0 million in Q1 2021. Discontinued operations in the period contributed positively to net income and cash flow
Net loss of €6.5 million in Q1 2022, compared to net loss of €4.9 million in Q1 2021
Total segment adjusted EBITDA of €1.9 million was recorded in Q1 2022, compared to €2.6 million in Q1 2021. This mainly reflects the lower proportion of revenues in the higher margin Pharma segment
Adjusted EBITDA from COVID-19 business for the three months ended March 31, 2022 was €6.1 million as compared to €10.2 million for the three months ended March 31, 2021. The decrease was driven by the reduction in COVID-19 test order intakes as the business was phased out
Cash and cash equivalents were €42.7 million as of March 31, 2022, compared to €17.8 million as of December 31, 2021. The reported cash position per end of Q1 2022 reflects proceeds from the debt (first tranche) and equity financings completed in February 2022

“With the completion of the financings earlier this year, CENTOGENE is operating from a stable financial position. We rolled out multiple initiatives to extend our cash runway by closely managing margins and corporate expenses. As a result, we are expecting to show improvements in our segments’ 2022 adj. EBITDA versus the prior year,” added Miguel Coego, Chief Financial Officer of CENTOGENE.


Recent Business Highlights

Corporate

Appointed executive and Supervisory Board leadership, including Kim Stratton as CEO, Miguel Coego as CFO, and Dr. Andreas Busch as Vice Chairman of the Supervisory Board
Closed $62 million aggregate equity and debt financings to support growth plan, including a €15 million (approx. $17 million) private placement incl. 1.3 million warrants at an exercise price of $7.72 per share from leading growth investors and a $45 million senior secured loan from Oxford Finance in Q1 2022, with the second tranche of the loan subject to operating covenants
Added ~28,000 individuals to the CENTOGENE Biodatabank in Q1 2022; CENTOGENE believes its Biodatabank is the world’s largest real-world data repository for rare and neurodegenerative diseases, which includes samples as well as data and cell lines from patients from over 120 countries
Authored 15 peer-reviewed scientific publications in Q1 2022, focused on generating critical insights into an array of diseases, including rare genetic and neurological diseases, e.g., the prevalence of Fabry disease among patients with Parkinson's disease
Phased out the COVID-19 testing services end of Q1 2022 according to plan

Pharma

Expanded partnership with Agios Pharmaceuticals for clinical development of PYRUKYND® (mitapivat) to treat children with rare blood disease
Extended market access partnership with Takeda to accelerate path from diagnosis to available treatments for rare metabolic and rare neurodegenerative diseases
Expanded Data Access and Collaboration R&D Agreement with Pfizer to advance discovery and validation of novel genetic targets as candidates for the development of new therapies for rare diseases
Initiated collaboration with Insilico Medicine for Niemann-Pick disease Type C (NPC) target discovery, leveraging the CENTOGENE Biodatabank
Currently leading three observational studies for patient finding and market access in collaboration with our pharma partners in rare and neurodegenerative disorders

Diagnostics

Reported order intake of approximately 16,300 test requests in our diagnostics segment, representing an increase of approximately 24% as compared to approximately 13,100 test requests in the same period in 2021
Launch of CENTOGENE MOx – a portfolio of single-step multiomic solutions that combines sequencing and biochemical testing to enable early diagnosis, improved prognosis, and precision medicine
Global release of CentoCloud, a cloud-based, clinical decision support platform enabling decentralized analysis, interpretation, and quality reporting for laboratories around the world
Received CE-mark for CentoCloud, making it one of the only decentralized SaaS and clinical decision support platforms compliant with European IVD regulatory framework
Major Next Generation Sequencing (NGS) panel update with more than 3,000 genes revised and 1,864 genes added to maximize the clinical utility for rare metabolic and neurodegenerative diseases
Contributed to Europe-wide efforts to update guidelines for WGS in rare disease diagnostics

2022 Financial Guidance

The Company has reaffirmed its previously communicated 2022 annual revenue guidance for year-over-year revenue growth in the Core Business of 15% to 20%. As a result, CENTOGENE expects revenues to be in the range of €50 million to €52 million. This reflects the classification of the COVID-19 Business as discontinued operations.


About CENTOGENE

CENTOGENE (Nasdaq: CNTG) is transforming real-world clinical, genetic, and multiomic data to enable better health outcomes for patients with rare and neurodegenerative diseases. For over 15 years, CENTOGENE has been providing diagnostic insights to patients with genetic diseases through our network of nearly 30,000 active physicians. CENTOGENE believes its Biodatabank is now the world’s largest real-world data repository of corresponding patients from more than 120 countries. Simplified logistics solutions, including CentoCard® for sending biosamples, and our ISO, CAP, & CLIA certified state-of-the-art multiomic reference labs offer patients rapid and reliable diagnoses to support the identification and personalization of their treatments. Ultimately, offering the best treatment for patients involves developing new or better therapies. We are de-risking orphan drug discovery and development by partnering with more than 30 biopharma in target & drug screening, clinical development, market access and expansion. CENTOGENE engages in biodata partnerships with our Biodata Licenses and Insight Reports.

To discover more about our products, pipeline, and patient-driven purpose, visit www.centogene.com and follow us on LinkedIn.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “project,” and similar expressions and future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” and “may,” are generally intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties, and other important factors that may cause CENTOGENE’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, negative economic and geopolitical conditions and instability and volatility in the worldwide financial markets, possible changes in current and proposed legislation, regulations and governmental policies, pressures from increasing competition and consolidation in our industry, the expense and uncertainty of regulatory approval, including from the U.S. Food and Drug Administration, our reliance on third parties and collaboration partners, including our ability to manage growth, execute our business strategy and enter into new client relationships, our dependency on the rare disease industry, our ability to manage international expansion, our reliance on key personnel, our reliance on intellectual property protection, fluctuations of our operating results due to the effect of exchange rates, our ability to streamline cash usage, our continued ongoing compliance with covenants linked to financial instruments, our requirement for additional financing, or other factors. For further information on the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to CENTOGENE’s business in general, see CENTOGENE’s risk factors set forth in CENTOGENE’s Form 20-F filed on March 31, 2022, with the Securities and Exchange Commission (the “SEC”) and subsequent filings with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and CENTOGENE’s specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Media Contact:

CENTOGENE

Lennart Streibel

Investor Relations

investor.relations@centogene.com

Ben Legg 

Corporate Communications 

Press@centogene.com

 
Stern IR  
Suzanne Messere

+1 (212) 698-8801

suzanne.messere@sternir.com


0.480.630.280.220001757097--12-312022Q1false6-K2022-03-31Centogene N.V.0.200.412.060.081.981317000273000500000P10YP10YP10YP10YP10Y

Exhibit 99.2

Centogene N.V.

Unaudited interim condensed consolidated statements of comprehensive loss

for the three months ended March 31, 2022 and 2021

(in EUR k)

    

    

For the three months ended March 31

    

Note

2022

    

2021*

    

Revenue

 

4, 5

10,327

 

9,981

 

Cost of sales

 

6,450

 

6,208

 

Gross profit

 

3,877

 

3,773

 

Research and development expenses

 

4,614

 

4,335

 

General administrative expenses

 

7,906

 

11,596

 

Selling expenses

 

2,394

 

1,949

 

Impairment of financial assets

 

8

154

 

95

 

Other operating income

 

6.1

733

 

366

 

Other operating expenses

 

6.2

1

 

34

 

Operating loss

 

  

(10,459)

 

(13,870)

 

Changes in fair value of warrants

11.2

238

Interest and similar income

 

  

1

 

 

Interest and similar expense

 

  

859

 

259

 

Financial costs, net

 

(620)

 

(259)

 

Loss before taxes from continuing operations

 

  

(11,079)

 

(14,129)

 

Income tax expenses

 

4

 

 

Loss for the period from continuing operations

 

  

(11,083)

 

(14,129)

 

Net income from discontinued operations, net of tax

7

4,601

9,240

Loss for the period

(6,482)

(4,889)

Other comprehensive income, all attributable to equity holders of the parent

 

  

94

 

121

 

Total comprehensive loss

 

  

(6,388)

 

(4,768)

 

Attributable to:

 

  

 

 

Equity holders of the parent

 

  

(6,415)

 

(4,803)

 

Non‑controlling interests from continuing operations

 

  

 

 

Non‑controlling interests from discontinued operations

27

35

(6,388)

 

(4,768)

 

Net loss per share - Basic and diluted from (in EUR)

Continuing operations

(0.48)

(0.63)

Loss attributable to parent

(0.28)

(0.22)

 

  

 

*The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 7- Discontinued Operations.

The accompanying notes form an integral part of these unaudited interim condensed consolidated financial statements

1

Centogene N.V.

Unaudited interim condensed consolidated statements of financial position

as of March 31, 2022 and December 31, 2021

(in EUR k)

Assets

    

Note

    

Mar 31, 2022

    

Dec 31, 2021

Revised

Noncurrent assets

 

  

 

  

 

  

Intangible assets

 

 

8,183

 

9,194

Property, plant and equipment*

 

2.2

 

7,674

 

9,464

Right-of-use assets

17,972

 

18,904

Other assets

 

8

 

2,972

 

2,972

 

36,801

 

40,534

Current assets

 

  

 

 

Inventories

 

 

2,067

 

3,869

Trade receivables and contract assets

 

8

 

21,125

 

24,337

Other assets

 

8

 

5,443

 

5,453

Cash and cash equivalents

 

9

 

42,666

 

17,818

 

71,301

 

51,477

 

108,102

 

92,011

Equity and liabilities

    

Note

    

Mar 31, 2022

    

Dec 31, 2021

Revised

Equity

 

  

 

  

 

  

Issued capital

 

10

 

3,250

 

2,708

Capital reserve

 

10

 

143,456

 

133,897

Retained earnings and other reserves

 

 

(114,120)

 

(107,705)

Non‑controlling interests

 

  

 

220

 

193

 

32,806

 

29,093

Noncurrent liabilities

 

  

 

 

Non‑current loans

 

11,1

 

21,890

 

Lease liabilities*

 

11,1

 

14,540

 

15,394

Deferred tax liabilities

 

 

59

 

79

Government grants

 

11,2

 

7,506

 

8,028

Warrants liability

11,2

2,603

 

46,598

 

23,501

Current liabilities

 

  

 

 

Government grants

 

11,2

 

1,517

 

1,368

Current loans

 

11,1

 

3,574

 

3,815

Lease liabilities*

 

2.2, 11.1

 

2,953

 

3,330

Trade payables

 

11,2

 

5,897

 

11,252

Liabilities from income taxes

11,2

198

178

Other liabilities

 

11,2

 

14,559

 

19,474

 

28,698

 

39,417

 

108,102

 

92,011

* Property, plant and equipment and lease liabilities as of December 31, 2021 have been revised. Refer to Note 2.2 – Revision of selected assets and liabilities in the consolidated statement of financial position and selected income and expenses in the consolidated statement of comprehensive loss.

The accompanying notes form an integral part of these unaudited interim condensed consolidated financial statements

2

Centogene N.V.

Unaudited interim condensed consolidated statements of cash flows

for the three months ended March 31, 2022 and 2021

(in EUR k)

For the three months ended March 31

    

Note

    

2022

    

2021*

Operating activities

 

  

 

  

 

  

Loss before taxes from continuing operations

(11,079)

(14,129)

Income before taxes from discontinued operations

7

4,614

9,240

Loss before taxes

 

  

 

(6,465)

(4,889)

Adjustments to reconcile loss to cash flow from operating activities

 

  

 

Amortization and depreciation

 

5

 

3,808

3,286

Interest expense

 

 

859

259

Expected credit loss allowances on trade receivables and contract assets

8

146

95

Gain on disposal of property, plant and equipment

(527)

Share‑based payment (true up)/ expenses

 

12

 

(1,957)

2,042

Fair value adjustments of warrants

(238)

Other non‑cash items

 

  

 

(141)

(184)

Changes in operating assets and liabilities

 

  

 

Inventories

 

 

1,802

2,083

Trade receivables and contract assets

 

8

 

3,066

500

Other assets

 

8

 

10

(941)

Trade payables

 

11.2

 

(5,355)

(6,638)

Other liabilities

 

11.2

 

(4,908)

4,629

Thereof cash flow used in continuing operating activities

 

  

 

(12,735)

(8,720)

Thereof cash flow from discontinued operating activities

7

2,835

8,962

Net cash flow (used in)/ from operating activities

(9,900)

242

Investing activities

 

  

 

Cash paid for investments in intangible assets

 

5

 

(44)

(1,326)

Cash paid for investments in property, plant and equipment

 

 

(79)

(1,970)

Cash received for disposal of property, plant and equipment

575

Thereof cash flow from continuing investing activities

(123)

(1,526)

Thereof cash flow from discontinued investing activities

7

575

(1,770)

Cash flow from/ (used in) investing activities

 

  

 

452

(3,296)

Financing activities

 

  

 

 

Cash received from issuance of shares

10

12,058

Cash received from issuance of warrants

2,833

Cash received from loans

 

11.1

 

21,695

1,587

Cash repayments of loans

 

11.1

 

(200)

(185)

Cash repayments of lease liabilities

 

11.1

 

(1,231)

(1,222)

Interest paid

 

 

(859)

(61)

Thereof net cash flow from continuing financing activities

34,705

394

Thereof net cash flow used in discontinued financing activities

(409)

(275)

Net cash flow from financing activities

 

  

 

34,296

119

Changes in cash and cash equivalents

 

  

 

24,848

(2,935)

Cash and cash equivalents at the beginning of the period

 

  

 

17,818

48,156

Cash and cash equivalents at the end of the period

 

  

 

42,666

45,221

* The comparative numbers have been re-presented as a result of the discontinued operations. Refer to Note 7- Discontinued Operations.

The accompanying notes form an integral part of these unaudited interim condensed consolidated financial statements

3

Centogene N.V.

Unaudited interim condensed consolidated statements of changes in equity

for the three months ended March 31, 2022 and 2021

Attributable to the owners of the parent

Currency

Non-

Issued

Capital

translation

Retained

controlling

Total

in EUR k

    

Note

    

capital

    

reserve

    

reserve

    

earnings

    

Total

    

interests

    

equity

 

As of January 1, 2021

2,654

125,916

(48)

(62,840)

65,682

95

65,777

Loss for the period

  

(4,924)

(4,924)

35

(4,889)

Other comprehensive loss

  

121

121

121

Total comprehensive loss

 

 

121

 

(4,924)

 

(4,803)

 

35

 

(4,768)

Share-based payments

12

2,042

2,042

2,042

Exercise of options

37

(37)

As of March 31, 2021

2,691

 

127,921

 

73

 

(67,764)

 

62,921

 

130

 

63,051

Attributable to the owners of the parent

Currency

Non-

Issued

Capital

translation

Retained

controlling

Total

in EUR k

    

Note

    

capital

    

reserve

    

reserve

    

earnings

    

Total

    

interests

    

equity

 

As of December 31, 2021 (as previously reported)

2,708

133,897

495

(109,790)

27,310

193

27,503

Adjustment

2,2

1,590

1,590

1,590

As of December 31, 2021/ January 1, 2022 (as revised)*

2,2

2,708

133,897

495

(108,200)

28,900

193

29,093

Loss for the period

  

(6,509)

(6,509)

27

(6,482)

Other comprehensive loss

  

94

94

94

Total comprehensive loss

 

 

94

 

(6,509)

 

(6,415)

 

27

 

(6,388)

Share-based payments

12

(1,957)

(1,957)

(1,957)

Issuance of shares

537

11,521

12,058

12,058

Exercise of options

5

(5)

As of March 31, 2022

3,250

 

143,456

 

589

 

(114,709)

 

32,586

 

220

 

32,806

* Retained earnings as of January 1, 2022 has been revised. Refer to Note 2.2 – Revision of selected assets and liabilities in the consolidated statement of financial position and selected income and expenses in the consolidated statement of comprehensive loss.

The accompanying notes form an integral part of these unaudited interim condensed consolidated financial statements

4

Notes to the unaudited interim condensed consolidated financial statements as of March 31, 2022 and December 31, 2021 and for the three months ended March 31, 2022 and 2021

1 General company information

Centogene N.V. (“the Company”) and its subsidiaries (“the Group”) focus on rare diseases and seek to transform real-world clinical and genetic or other data into actionable information for patients, physicians and pharmaceutical companies. The mission of the Company is to bring rationality to treatment decisions and to accelerate the development of new orphan drugs by using our knowledge of the global rare disease market, including epidemiological and clinical data and innovative biomarkers.

The Company is listed on the Nasdaq Global Market under stock code “CNTG”. Centogene N.V. is a public company with limited liability incorporated in the Netherlands, with registered office located at Am Strande 7 in 18055 Rostock, Germany and Dutch trade register number 72822872.

2 Basis of preparation

The interim condensed consolidated financial statements for the three months ended March 31, 2022 and 2021 have been prepared in accordance with IAS 34 Interim Financial Reporting.

The interim condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements, and should be read in conjunction with the Group’s annual consolidated financial statements as of December 31, 2021 and 2020 and for the three years ended December 31, 2021. Unless otherwise specified, "the Company" refers to Centogene N.V. and Centogene GmbH throughout the remainder of these notes, while "the Group" refers to Centogene N.V., Centogene GmbH and its subsidiaries.

The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended December 31, 2021 except for the changes in presentation relating to discontinued operations (refer to Note 2.1– New significant accounting policies and accounting judgments and estimates and Note 7– Discontinued operations). The Group has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective, and there are no new or amended standards or interpretations that are issued and became effective for the 2022 annual reporting period, that have a material impact on the Group.

These interim condensed consolidated financial statements are presented in euro, which is the Group's functional currency. Unless otherwise specified, all financial information presented in euro is rounded to the nearest thousand (EUR k) in line with customary commercial practice.

2.1New significant accounting policies and accounting judgments and estimates

Discontinued operations

A discontinued operation is a component of an entity that either has been disposed of, or that is classified as held for sale. It must either: represent a major separate line of business or geographical area of operations; be part of a single coordinated disposal plan; or be a subsidiary acquired exclusively with a view to resale. A component also qualifies for presentation as a discontinued operation when activities are ultimately ended (abandoned). Non-current assets and disposal groups are not classified as assets held for sale if their carrying amount is to be recovered through continuing use.

In 2021, the Group decided to end its COVID-19 business activities in Q1 2022. The Group assessed that ending the activities of this operating segment would qualify as a discontinued operation. Therefore, the profit or loss related to the COVID-19 business is presented in a separate line item of the profit and loss section of the statement of comprehensive loss for the three months ended March 31, 2022 and 2021. The segment reporting note and notes to the unaudited interim condensed consolidated financial statements for the three months ended March 31, 2022 and 2021 only represent continuing operations. For further details on the discontinued operations refer to Note 7 – Discontinued operations.

5

Notes to the unaudited interim condensed consolidated financial statements as of March 31, 2022 and December 31, 2021 and for the three months ended March 31, 2022 and 2021

Warrants

Warrants are classified as equity to the extent that they confer the right to purchase a fixed number of shares for a fixed exercise price. In the event that the exercise price or the numbers of shares to be issued are not deemed to be fixed, the warrants are classified as a non-current derivative financial liability. Warrants entitle the holder to purchase one common share of the Company at an exercise price of USD 7.72 per share and can be settled for a fixed number of the Company's underlying common shares. Since the exercise price of the warrants is determined in US dollars which is different from the Company’s functional currency, warrants are classified as liabilities. This liability is initially recognized at its fair value on the date the contract is entered into and subsequently accounted for at fair value through profit and loss (FVTPL) at each reporting date. As the warrants are classified as financial liabilities at FVTPL, transaction costs in the amount of EUR 68k were expensed in the consolidated statements of comprehensive loss for the three months ended March 31, 2022. For more details, refer to Note 13 – Financial instruments at fair value.

2.2Revision of selected assets and liabilities in the consolidated statement of financial position and selected income and expenses in the consolidated statement of comprehensive loss

In accordance with IAS 8.42, the Group revised the amount presented for certain property, plant and equipment and lease liabilities balances on the consolidated statement of financial position and cost of sales and other operating income amounts in the statements of comprehensive loss as of and for the year ended December 31, 2021 These revised assets, liabilities, income and expenses are related to the COVID-19 segment which has been discontinued as of March 31, 2022.

In September 2021, management updated their long term COVID-19 outlook and took the decision to wind down the COVID-19 segment by Q1 2022. This resulted in an accelerated depreciation of COVID-19 segment related property, plant and equipment and right of use assets during Q4 2021.

In Q2 2022, management identified the accelerated depreciation was over-stated with an amount of EUR 1,317k and a terminated lease contract in Q4 2021 with a EUR 273k lease liability balance which was not derecognized from the statement of financial position as of December 31, 2021. The lease liability is in relation to the closure of the Hamburg laboratory of which the right of use asset was completely written off in Q3 2021.

To correct these unadjusted differences, property, plant and equipment has been revised by EUR 1,317k with a corresponding decrease in depreciation expense under cost of sales and lease liabilities have been revised by EUR 273k with a corresponding increase in other operating income.

The changes to the consolidated statement of financial position as of December 31, 2021 are as follows:

in EUR k

Dec 31, 2021
(as previously reported)

Adjustment

Dec 31, 2021 (revised)

Property, plant & equipment

8,147

1,317

9,464

Non-current Assets

39,217

1,317

40,534

Total assets

90,694

1,317

92,011

Retained earnings and other reserves

(109,295)

1,590

(107,705)

Equity

27,503

1,590

29,093

Lease liabilities

15,588

(194)

15,394

Non-current liabilities

23,695

(194)

23,501

Lease liabilities

3,409

(79)

3,330

Current liabilities

39,496

(79)

39,417

Total Liabilities

63,191

(273)

62,918

6

Notes to the unaudited interim condensed consolidated financial statements as of March 31, 2022 and December 31, 2021 and for the three months ended March 31, 2022 and 2021

The changes to the consolidated statements of comprehensive income for the year ended December 31, 2021 are as follows:

Dec 31, 2021
(as previously reported)

Adjustment

Dec 31, 2021 (revised)

Revenue

189,923

-

189,923

Cost of sales

161,765

(1,317)

160,448

Gross profit

28,158

1,317

29,475

Research and development expenses

19,297

-

19,297

General administrative expenses

46,739

-

46,739

Selling expenses

9,860

-

9,860

Impairment of financial assets

1,140

-

1,140

Other operating income

2,936

273

3,209

Other operating expenses

86

-

86

Operating loss

(46,028)

1,590

(44,438)

Loss for the year

(46,852)

1,590

(45,262)

Total comprehensive loss

(46,309)

1,590

(44,719)

Loss per share- Basic and diluted (in EUR)

(2.06)

0.08

(1.98)

The revisions above have no impact on the changes in cash, cash equivalents and net cash flows in operating, investing, and financing activities within the consolidated statements of cash flows for the year ended December 31, 2021.

3 Effect of COVID-19 Pandemic and other geopolitical events

The COVID-19 pandemic has spread worldwide and continues to cause many governments to maintain measures to slow the spread of the outbreak through quarantines, travel restrictions, closures of borders and requiring maintenance of physical distance between individuals.

The COVID-19 pandemic resulted in a slowdown in our diagnostics and pharmaceutical businesses. As part of the Company’s initiative to assist local, national and international authorities as well as other partners in their efforts to facilitate the earliest possible diagnosis of COVID-19 and thereby contribute to allowing society to return to a “new” normal, the Company commenced testing for COVID-19 in March 2020.

During the three months ended March 31, 2022, we continued the COVID-19 testing activities that started in 2020. However, as at March 31, 2022, all COVID-19 operations at testing sites have ceased as all COVID-19 testing site contracts expired within the first quarter of 2022. The company is reporting the COVID-19 segment as a discontinued operation. See Note 2.1– New significant accounting policies and accounting judgments and estimates and Note 7 – Discontinued operations.

Although the Group is taking a number of measures aimed at minimizing disruptions to the business and operations, the full extent to which the global COVID-19 pandemic may continue to impact the business will depend on future developments, which are highly uncertain and cannot be predicted, such as the duration of the pandemic, the availability and effectiveness of vaccines against new variants, the probability of the occurrence of further outbreaks and the ultimate impact on the financial markets and the global economy could result in an unforeseen negative impact on the business and future results of operations.

In reaction to the recognition of the so-called Donetsk People’s Republic and the so-called Luhansk People’s Republic by the Russian Federation, the following Russian invasion of the Ukraine on February 24, 2022 and the since-then ongoing war in the Ukraine, a number of countries (including the United States, United Kingdom and the European Union) imposed sanctions and other measures. Sanctions and other measures imposed until July 2022 against, among others, certain individuals as well as private and state-owned entities in Russia and Belarus, include asset freezes, exports controls through tariffs, taxation or bans of goods and commodities and energy embargos,

7

Notes to the unaudited interim condensed consolidated financial statements as of March 31, 2022 and December 31, 2021 and for the three months ended March 31, 2022 and 2021

including a ban by the United States of oil, gas and coal imports, financial sanctions and bans of foreign direct investments into Russia. Additional sanctions may be imposed.

Due to the war in Ukraine, there has been a significant increase in volatility on the securities and currency markets. It is expected that these events may affect the activities of Russian enterprises in various sectors of the economy and may have severe effects on macroeconomic developments in global and national markets due to spillovers and Russian counter measures, including on commodity markets and financial channels, contributing to supply chain disruptions and rising inflation. Although neither Centogene’s operations, supply chain, performance nor going concern basis has been significantly affected by the conflict, the impact of the conflict and its broader economic implications, such as higher costs of consumer goods, cannot be reliably quantified at this point in time.

4 Revenues from contracts with customers

in EUR k

For the three months ended March 31, 2022

    

Pharmaceutical

    

Diagnostics

Total

Rendering of services

3,047

7,092

10,139

Sales of goods

188

188

Total Revenues from contracts with external customers

3,235

7,092

10,327

Recognized over time

3,047

7,092

10,139

Recognized at a point in time

188

188

Total Revenues from contracts with external customers

3,235

7,092

10,327

    

Geographical information

 

Europe

 

18

1,421

1,439

—Germany*

 

78

78

—Netherlands**

7

7

Middle East

 

58

4,033

4,091

—Saudi Arabia#

2,421

2,421

North America

 

3,145

625

3,770

—United States#

3,145

604

3,749

Latin America

 

14

715

729

Asia Pacific

 

298

298

Total Revenues from contracts with external customers

 

3,235

 

7,092

10,327

8

Notes to the unaudited interim condensed consolidated financial statements as of March 31, 2022 and December 31, 2021 and for the three months ended March 31, 2022 and 2021

in EUR k

For the three months ended March 31, 2021

    

Pharmaceutical

    

Diagnostics

    

Total

Rendering of services

3,393

6,383

9,776

Sales of goods

205

205

Total Revenues from contracts with external customers

3,598

6,383

9,981

Recognized over time

3,393

6,383

9,776

Recognized at a point in time

205

205

Total Revenues from contracts with external customers

3,598

6,383

9,981

Geographical information

Europe

 

149

1,214

1,363

—Germany*

 

53

53

—Netherlands**

2

2

Middle East

 

29

4,135

4,164

—Saudi Arabia#

2,683

2,683

North America

 

3,405

464

3,869

—United States#

3,405

403

3,808

Latin America

 

15

410

425

Asia Pacific

 

160

160

Total Revenues from contracts with external customers

 

3,598

 

6,383

 

9,981

* country of the incorporation of Centogene GmbH

** country of the incorporation of Centogene N.V.

# countries contributing more than 10% of the Group’s total consolidated revenues for the three months ended March 31, 2022 and 2021, respectively.

The Group collaborated with the majority of our existing pharmaceutical partners on a worldwide basis in 2022 and 2021. In addition, in cases where pharmaceutical partners are developing a new rare disease treatment, it is generally anticipated that the final approved treatment will be made available globally. As a result, the Group allocates the revenues of the pharmaceutical segment by geographical region by reference to the location where each pharmaceutical partner mainly operates, which is based on the region from which most of their revenues are generated. The allocation of revenues in the diagnostics segment is based on the location of each customer.

Pharmaceutical segment

During the three months ended March 31, 2022, revenues from one pharmaceutical partner represented 19.0% of the Group's total revenues (the three months ended March 31, 2021: 30.5%).

9

Notes to the unaudited interim condensed consolidated financial statements as of March 31, 2022 and December 31, 2021 and for the three months ended March 31, 2022 and 2021

5 Segment information

in EUR k

For the three months ended March 31, 2022

    

Pharmaceutical

    

Diagnostics

    

Corporate

    

Total

Total Revenues from contracts with external customers

3,235

7,092

10,327

Adjusted EBITDA

 

1,099

812

(11,964)

(10,053)

Capital Expenditures

 

Additions to property, plant and equipment and right-of-use assets

 

79

79

Additions to intangible assets

 

29

15

44

Other segment information

 

Depreciation and amortization

127

441

1,795

2,363

Research and development expenses

 

4,614

4,614

in EUR k

For the three months ended March 31, 2021

    

Pharmaceutical

    

Diagnostics

    

Corporate

    

Total

Total Revenues from contracts with external customers

3,598

6,383

9,981

Adjusted EBITDA

 

1,497

1,054

(12,020)

(9,469)

Capital Expenditures

 

Additions to property, plant and equipment and right-of-use assets

 

6

234

314

554

Additions to intangible assets

 

322

650

972

Other segment information

 

Depreciation and amortization