Interim Report January – June 2024: Strong Sales Growth in US Market

UPPSALA, SWEDDEN / ACCESSWIRE / August 26, 2024 / Senzime (STO:SEZI)(OTCQX:SNZZF) Press release: Uppsala, 26 August 2024. Senzime AB:s (publ) interim report for January – June 2024 is now available on the company’s website www.senzime.com.

Financial information April – June 2024

• Net sales amounted to TSEK 14,917 (8,462), an increase of 76 percent.

• Sales of disposable sensors amounted to TSEK 8,412 (4,390), an increase of 92 percent.

• In the USA, net sales increased to TSEK 10,973 (4,108), an increase of 167 percent.

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  The gross margin before depreciation amounted to 63.3 percent (70.0).

• Operating costs amounted to TSEK 39,770 (37,101).

• Operating profit before depreciation amounted to TSEK -29,239 (-30,201).

• The result after financial items amounted to TSEK -34,259 (-35,264).

• Earnings per share amounted to SEK -0.28 (-0.42).

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  Cash and cash equivalents as of June 30th amounted to TSEK 80,184 (41,635).

Financial information January – June 2024

• Net sales amounted to TSEK 27,037 (15,750), an increase of 72 percent.

• Sales of disposable sensors amounted to TSEK 15,668 (8,234), an increase of 90 percent.

• In the USA, net sales increased to TSEK 20,011 (9,182), an increase of 118 percent.

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  The gross margin before depreciation amounted to 63.7 percent (69.3).

• Operating costs amounted to TSEK 72,576 (69,479).

• Operating profit before depreciation amounted to TSEK -53,150 (-56,661).

• The result after financial items amounted to TSEK -62,978 (-66,955).

• Earnings per share amounted to SEK -0.51 (-0.84).

Extract from the CEO comment:

Strong growth in the US market, we are gaining market share, and our technology is increasingly being established as the new clinical standard in operating rooms around the world

It has been another eventful quarter for Senzime. We continue to report strong growth and net sales increased by 76 percent vs Q2 2023 to SEK 14.9 million. Last year’s second quarter included a one-off licensing revenue and excluding that, the sales increase was over 100 percent. This was again another quarter with record sales.

Our US revenue continues to develop strongly with an increase of 167 percent vs Q2 2023 Strategically important new hospital contracts and recurring sales of disposable sensors to the installed base of TetraGraph systems contributed to the growth. The expanded sales organization in the US is proving to be very successful. The utilization rate of systems continues to increase, and we delivered almost twice as many disposable sensors as the previous year.

Businesses in Japan and South Korea are also showing good growth. Our Japanese license partner Fukuda Denshi reports success in sales of its integrated module with “TetraGraph inside” launched in the first quarter of this year. The module is the first of its kind powered by our algorithms and sensors and launched as an accessory to Fukuda’s extensive installed base of patient monitors. The healthcare strike in South Korea has continued, but despite this we have been able to once again deliver products to the market.

The focus and direction of Senzime is crystal clear – we are building the undisputed market leader in the digital and clinical shift that is now taking place in operating rooms worldwide. The commercial breakthrough for Senzime is a fact.

This press release only contains parts of the full interim report release that is published on Senzime’s website: www.senzime.com.

For further information, please contact:

Philip Siberg, CEO of Senzime AB
Phone: +46 (0) 707 90 67 34, e-mail: philip.siberg@senzime.com

Slavoljub Grujicic, CFO
Phone: +46 (0) 76 306 60 11, e-mail: slavoljub.grujicic@senzime.com

About Senzime

Senzime, headquartered in Sweden, is a leading medical device company that develops, manufactures, and markets CE- and FDA-cleared patient monitoring systems. The company provides an innovative portfolio of solutions, including the TetraGraph® and ExSpiron® 2Xi for accurate monitoring of neuromuscular and respiratory functions, typically under and after surgery. The goal is to help eliminate in-hospital complications, and radically reduce health care costs related to surgical and high acuity procedures.

Senzime targets a market opportunity valued more than SEK 40 billion per year, and operates with sales teams in the world’s leading markets. The company’s shares are listed on Nasdaq Stockholm Main Market (Nasdaq: SEZI) and cross-traded in the US on the OTCQX market (OTCQX: SNZZF). More information is available at senzime.com.

This information is information that Senzime is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-08-26 08:00 CEST.

Attachments

Senzime Interim Report Q2 ENG

SOURCE: Senzime

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