Press release:
Financial information January -
- Consolidated net sales are in line with expectations at kSEK 11,059 (12,037). The difference from Q1 2023 is due to the timing of sensor deliveries between Q4 2022 and Q1 2023 and FX movement. Revenues are higher than the previous quarter by 9% due to growing Hospital-at-Home sales and billing of annual licence fees.
- Recurring sales kSEK 9,288 (9,415) with the difference relating to FX movement.
- The gross margin was 79% (77%).
- EBITDA was kSEK -1,589 (-2,281).
- Loss after financial items was kSEK -6, 357 (-6,322).
- Basic earnings per-share were
SEK -0.31 (-0.34). - Cash and cash equivalents as of
March 31, 2024 , were kSEK 2,856 (4,310).
Highlights Q1
- PMDS raised kSEK 1,993 in
January 2024 , following the completion of the RTO inDecember 2024 . - Notice of RespiraSense selected by a multinational Ventilation company for use in clinical studies
- The share exchange between
Promore Pharma AB andPMD Device Solutions AB was completed inFebruary 2024 . Promore Pharma AB (PROMO) was renamed toPMD Device Solutions AB (PMDS).- Completed reverse share split with a ratio 1:128.
Notable events since Q1
- PMDS commenced its first German pilot for RespiraSense in acute care.
- PMDS completed the acquisition of
Coala Life Inc (USA ) inApril 2024 , alongside the acquisition ofCoala Life AB patents and licences and other assets for the purchase price of MSEK 3,6. - In
May 2024 , PMDS licenced the European sales ofCoala Life devices toRed Line Microconsult AB for MSEK 2 plus royalty fees on future sales at 5%.
The link to the Year-end report: https://investors.pmd-solutions.com/en/investors/reports-and-presentations/
CEO COMMENTS
Beyond
PMDS is trending towards profitability, significantly improving EBITDA from kSEK -9,001 in Q4 2023 to kSEK -1,561 in Q1 2024. Due to positive developments after Q1, we are revising our financial target of MSEK 100 annual recurring revenue by the end of 2026 and will provide an update in the Q2 2024 interim report.
We continue to advance the
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