Press release:
Financial information October -
- Net sales amounted to kSEK 10,082 (1,817), a 5x increase over the same period of the previous year and are 100% derived from PMD’s RespiraSense related products. Consumable RespiraSense sensors makes up 89% of total sales amounting to kSEK 9,042 (1,516). There are no
Promore Pharma related sales in either period. - Sales from Hospital-At-Home were kSEK 555 (0).
- The gross margin was 78% (79%).
- EBITDA was kSEK -9,007 (-6,217).
- Loss after financial items was kSEK -14,087 (-10,315).
- Basic earnings per-share were
SEK -0.006 (-0.562). - Cash and cash equivalents as of
December 31, 2023 , were kSEK 1,284 (8,253) - The reverse acquisition (RTO) of
Promore Pharma was completed on29 December 2023 .
Financial information for the 9 months April -
- Net sales amounted to kSEK 28,623 (18,407), a +58% increase over the previous 12 months period. Sales of consumable sensors made up 94% of net sales amounting to kSEK 27,100 (15,208), a +78% increase. All sales related to PMD’s RespiraSense line.
- Gross margin was 79% (78%).
- EBITDA was kSEK -16,199 (-18,154).
- Loss after financial items was kSEK -28,121 (-36,479).
- Basic earnings per-share were
SEK -0.013 (-1.988). - Share transfer from
Promore Pharma to PMDS shareholders was registered on8 Feb 2024 .
Highlights Q4
- Continued to supply RespiraSense across
Ireland each quarter - Awarded a 2-year contract for managed service of a 20-bed Virtual Ward for COPD patients in
Ireland . Recorded first revenues for the project in Q4 of kSEK 555. - Private placement of kSEK 26,533 completed prior to the RTO of
Promore Pharma AB
Notable events since Q4
- Payment received for Q1 2024 Irish sales order of ~kSEK 8,500
- Direct share issue of kSEK 1,800
- Renamed
Promore Pharma AB (PROMO) toPMD Device Solutions Limited (PMDS). FormerPMD Device Solutions AB renamed toPMD Device Solutions Sweden AB , now a 100% owned subsidiary of the Group - Completed reverse share split with a ratio 1:128.
- Notice of RespiraSense selected by multinational Ventilation company for use in clinical studies
The link to the Year-end report: https://investors.pmd-solutions.com/en/investors/reports-and-presentations/
CEO COMMENTS:
A strong foundation and continued growth
PMDS listing on Nasdaq First North Growth Market coincides with our drive to accelerate growth beyond
PMDS has demonstrated the ability to establish a solid commercial foundation, with RespiraSense as the standard of care in
Revenue generated from the 12 months of 2023 was kSEK 40,609.
PMDS is focused on achieving profitability by the year end through increasing annual recurring revenue. We are focusing, in particular, on the
PMDS is the emerging market leader in respiratory monitoring wearables and with both FDA and European regulatory clearances, targeting the US and EU markets with a combined serviceable market of bnSEK 79 from opportunities across
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