Strong start to 2024!
The Group’s sales amounted to 58.6 (42.3) MSEK for the first quarter of the year, and as result of increased sales in combination with stabilized costs and return on investments the Group’s EBITDA amounted to 11,7 (2,7) MSEK. The net result totaled 13.1 (-2.5) MSEK for the period.
Cash flow from operating activities amounted to 10.1 (-1.7) MSEK for the quarter.
A total number of 154 (140) scalp cooling systems were installed around the world in the first three months of the year, with the order book containing an additional 153 (162) systems.
Average Daily Treatment Revenue (ADTR) amounted to 38.8 TUSD (403.0 TSEK) for Q1 2024, corresponding to an increase of 22.6% compared to 32.0 TUSD (333.9 TSEK) for Q1 2023. Recurring income increased from 23.7 MSEK in Q1 2023 to 29.9 MSEK for the same period in 2024.
Significant events during the reporting period
In February the
In March, Paxman was honoured to receive the Export Achievement Award during the prestigious Medilink North of England Healthcare Business awards, recognising our outstanding growth and success in international markets. Paxman’s R&D team were also runners-up for the Partnership with Academia category for our collaborative efforts with academic institutions.
Significant events after the reporting period
During May,
In May, the partnership between the
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