Strong finish to 2024 - record high sales in Q4
Financial highlights Q4 2024
- Net Sales amounted to 24.0 MSEK (21.3), an increase of 13 percent over the same quarter in 2023.
- Operating Result amounted to -1.6 MSEK (-3.7).
- Net Result after financial items amounted to -1.1 MSEK (-4.9).
- EBITDA for the Fourth Quarter is positive at 1.1 MSEK (0.1).
- Earnings per share were -0.01 SEK (-0.07).
- Cash Balance amounted to 3.0 MSEK (6.0).
- Average Daily Treatment Revenue (ADTR)* was 251 TSEK (238) in the quarter.
Financial highlights Full Year 2024
- Net Sales amounted to 89.8 MSEK (86.1), an increase of 4 percent over 2023.
- Operating Result amounted to -18.3 MSEK (-15.0).
- Net Result after financial items amounted to -19.1 MSEK (-17.2).
- EBITDA for full year 2024 is negative at -4.9 MSEK (0.1), with positive EBITDA closing the year in both Q3 and Q4.
- Earnings per share were -0.25 SEK (-0.25).
- Average Daily Treatment Revenue (ADTR)* was 240 TSEK (239) in 2024.
Significant events Full Year 2024
- Dignitana Rights Issue was fully subscribed at 19.1 MSEK before issue cost.
- In May Dignitana published the Annual Report for 2023.
- Fredrik Jonsson was appointed as CEO beginning 1 May 2024 following the resignation of Catarina Löwenadler.
Business highlights during the period
- In October Dignitana expanded the company's partnership with InfuSystem Holdings, Inc. to include field service support of DigniCap in U.S. chemotherapy infusion centers.
- Later that month the American Medical Association (AMA) issued three new CPT® Category I codes for scalp cooling that will become effective January 2026 and provide payment guidance.
- In November the U.S. Centers for Medicare & Medicaid Services (CMS) published the OPPS Final Rule with a 40 percent increase in the average rate for CPT® 0662T over the 2024 amount.
- University Hospital Schleswig-Holstein in Kiel, Germany (UKSH) purchased two DigniCap Delta devices and began offering scalp cooling to their patients in October.
- In November the Aleris Oncology Clinic at Sabbatsberg Hospital, Stockholm expanded access to scalp cooling for patients in Sweden after completing a successful pilot evaluation.
- In December Dignitana signed a Distribution Agreement with Boosst to be the exclusive provider of DigniCap in Ecuador and Peru.
- New York legislation was signed to provide insurance coverage for scalp cooling systems effective January 1, 2026.
Business highlights Full Year 2024
- The American Medical Association (AMA) issued three new CPT® Category I codes for scalp cooling that will become effective January 2026 and provide payment guidance for U.S. reimbursement.
- In Japan, DigniCap Delta received market approval and the Company signed an exclusive, multi-year Distribution Agreement with Konica Minolta.
- Dignitana expanded the partnership with InfuSystem Holdings, Inc. to include field service, providing industry-leading customer service to U.S. infusion centers.
- University Hospital Schleswig-Holstein in Kiel, Germany (UKSH) purchased two DigniCap Delta devices and began offering scalp cooling to their patients in October.
- In November the Aleris Oncology Clinic at Sabbatsberg Hospital, Stockholm expanded access to scalp cooling for patients in Sweden after completing a successful pilot evaluation.
- DigniCap Delta study is underway in Brindisi, Italy.
- New York legislation was signed to provide New York cancer patients with insurance coverage for scalp cooling, effective January 1, 2026.
Business highlights after the period
- In February Dignitana signed Chronos Trade Medical to be the exclusive distributor of DigniCap in Romania.
- Dignitana announced expansion of the company's intellectual property with a new patent awarded in Korea titled "Scalp Cooling Apparatus, Method and System."
- Dignitana will speak at the Texas BioLife conference in February to address innovation in healthcare.
Key Figures
| DIGNITANA GROUP | Q4 2024 | Q4 2024 | Full Year 2024 | Full Year 2023 |
|---|---|---|---|---|
| Net sales, TSEK | 23,972 | 21,266 | 89,830 | 86,063 |
| Total revenues, TSEK | 24,040 | 21,916 | 90,451 | 89,025 |
| Net profit after financial items, TSEK | -1,085 | -4,943 | -19,142 | -17,228 |
| Cash and bank balances, TSEK | 2,954 | 6,027 | 2,954 | 6,027 |
| Earnings per share before and after dilution, SEK | -0.01 | -0.07 | -0.25 | -0.25 |
| Average Daily Treatment revenue, TSEK | 251 | 238 | 240 | 239 |
* ADTR includes pay-per-treatment revenue from patients and facilities in the U.S. Does not include lease revenue or disposable sales.
"It is particularly encouraging to see that we can adapt and evolve so rapidly, especially on the heels of substantial one-time operating expenses incurred in the second period of this year. We are committed to our strategic road map and continue to implement strategic decisions that keep costs down and create flexibility and scalability." - Fredrik Jonsson, CEO
All financial reports are available at www.dignitana.com/investor-relations/financial-reports/
This disclosure contains information that Dignitana AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 20-02-2025 08:00 CET.
For More Information Contact
Fredrik Jonsson, CEO, fredrik.jonsson@dignitana.com +46 708766444
About Dignitana
Dignitana AB is the world leader in clinically superior scalp cooling technology. The company produces The DigniCap® Scalp Cooling System, a patented medical cooling device that offers cancer patients the ability to minimize hair loss during chemotherapy. FDA cleared since 2015, DigniCap provides continuous cooling with high efficacy, safety and patient comfort. Hailed internationally as a life-changing medical advancement for cancer patients, The DigniCap Scalp Cooling System was invented in 1999 by a Swedish Oncology nurse and has been available in Europe since 2001. Dignitana AB is listed on Nasdaq First North Growth Market in Sweden with headquarters in Lund, Sweden and US operations based in Dallas, Texas in the United States. Company subsidiaries are Dignitana, Inc. in the United States and Dignitana S.r.l. in Italy. Certified Adviser is Redeye AB. Learn more at www.dignitana.com or www.dignicap.com.
