UPPSALA, SWEDEN / ACCESS Newswire / February 17, 2025 / Senzime (STO:SEZI)(OTCQX:SNZZF) Senzime AB's (publ) interim report for January - December 2024 is now available on the company's website www.senzime.com.
Financial information October - December 2024
• Net sales amounted to TSEK 14,034 (10,850), an increase of 29 percent.
• Currency-adjusted net sales increased by 28 percent.
• Sales of disposable sensors amounted to TSEK 11,042 (6,647), an increase of 66 percent.
• In the USA, net sales increased to TSEK 9,478 (8,300), an increase of 14 percent.
• Sales of disposable sensors in the USA amounted to TSEK 7,561 (5,269), an increase of 44 percent.
• The gross margin before depreciation amounted to 67.4 percent (70.8).
• Operating costs amounted to TSEK 32,970 (43,379).
• Operating profit before depreciation amounted to TSEK -18,161 (-34,655).
• The result after financial items amounted to TSEK -27,838 (-39,617).
• Earnings per share amounted to SEK -0.20 (-0.33).
• Cash and cash equivalents as of 12/31/2024 amounted to TSEK 100,941 (151,009).
Financial information January - December 2024
• Net sales amounted to TSEK 58,477 (35,754), an increase of 64 percent.
• Currency-adjusted net sales increased by 65%
• Sales of disposable sensors amounted to TSEK 39,183 (19,526), an increase of 101 percent.
• In the USA, net sales increased to TSEK 42,605 (24,742), an increase of 72 percent.
• The gross margin before depreciation amounted to 64.4 percent (69.8).
• Operating costs amounted to TSEK 144,178 (145,699).
• Operating profit before depreciation amounted to TSEK -97,892 (-116,794).
• The result after financial items amounted to TSEK -122,780 (-137,159).
• Earnings per share amounted to SEK -0.97 (-1.45).
Extract from the CEO comment:
Our rapid growth journey continued in 2024 with a 65% growth rate
Sales in 2024 increased to SEK 58.5 million, representing a growth rate of 65 percent. Single-use sensors accounted for the major increase with sales more than doubling in 2024, a strong confirmation of our business model. More than two-thirds of our sales in 2024 were related to single-use sensors. We delivered 900 TetraGraph systems during the year to leading hospitals worldwide, and the adoption rate is continuously increasing. Our technology is rapidly establishing itself as de facto standard in operating rooms and our systems are now used in over 500 hospitals globally. Despite a significant expansion of our commercial operations in the US, we have kept our total operating costs flat as compared to the year before.
The successful October introduction of the next-generation TetraGraph impacted Q4 revenues as expected. The next-generation TetraGraph system was showcased at the annual American ANESTHESIOLOGY 2024 congress, and I am proud to report exceptionally positive feedback from the market. The October introduction impacted Q4 revenues as majority of our ongoing sales processes transitioned to our new system, especially in the US market. We delivered the first FDA cleared units according to plans in December 2024.
Shortly after the end of the quarter, we secured several contracts for the new TetraGraph system. These include orders from a major university hospital system in the southeastern US for a total of 79 systems, orders from a leading US university hospital for the first 25 systems, and expansion orders for monitors from the highest-ranked hospital system in the US market. In addition, we secured additional important contracts in Switzerland, as an extension to the wins we already announced in the fourth quarter of 2024.
2024 was another breakthrough year for Senzime. The expansion of our US commercial team and marketing efforts led to significant contract wins and strengthened market share. We secured several of the top 25 healthcare systems in the US, both for adults and children, and we delivered continuously under our first major procurement contract (GPO), in the US. Sales in Japan gained momentum thanks to the successful launch of the first integrated patient monitor module based on our TetraGraph technology through our licensee Fukuda Denshi. In South Korea, sales increased sharply, supported by increased reimbursement for our type of technology and by increased utilization of the installed base of over 300 TetraGraphs in the country.
A big thank you to the phenomenal Senzime team and thank you to all the investors who continue to support us. If 2025 continues as it has started, it will certainly be a fantastic year for Senzime.
Presentation of the report
Senzime invites investors, analysts and press to a webcast presentation of the 2024 report on February 17th at 2 p.m. The presentation will be given by CEO Philip Siberg and after the presentation there will be a question-and-answer session moderated by Klas Palin, analyst at Carnegie Investment Bank. The presentation is in English. Questions to the moderator can be emailed to klas.palin@carnegie.se before 10 a.m. on February 17th. The presentation can be viewed on Senzime's website via the link www.senzime.com/investors.
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 develops CE- and FDA-cleared precision-based patient monitoring solutions to safeguard patients during anesthesia and recovery. Senzime's TetraGraph® and ExSpiron® 2Xi systems are powered by proprietary, smart algorithms to monitor neuromuscular and respiratory function in real-time during and after surgery. The technologies are based on 40+ years of science and developed to enhance patient safety targeting over 100 million patients globally. Senzime's products are commercialized in over 30 countries including direct sales teams in US and Germany.
Established in 1999 and headquartered in Uppsala, Sweden, Senzime is backed by long-term investors and listed on the Nasdaq Stockholm Main Market (SEZI), with cross-trading on the New York OTCQX market (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. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-02-17 07:30 CET.
Attachments
Senzime Interim Report Q4 2024
SOURCE: Senzime
View the original press release on ACCESS Newswire
