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Interim Report January - September 2024: Strong Sales Growth Driven by Accelerated Sensor Sales

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Senzime reported strong Q3 2024 financial results with net sales of 17.4 MSEK, up 90% year-over-year. Sales of disposable sensors surged 169% to 12.5 MSEK, while US sales grew 81% to 13.1 MSEK. The company's TetraGraph system has been installed in over 500 hospitals globally. Despite growth, operating costs increased to 38.4 MSEK, resulting in an operating loss of 26.5 MSEK. The company recently launched its next-generation TetraGraph at ANESTHESIOLOGY 2024, featuring Adaptive Intelligence technology. Cash position stood at 50.2 MSEK as of September 30, 2024.

Senzime ha riportato risultati finanziari solidi per il terzo trimestre del 2024 con vendite nette di 17,4 MSEK, in aumento del 90% rispetto all'anno precedente. Le vendite di sensori monouso sono aumentate del 169%, raggiungendo 12,5 MSEK, mentre le vendite negli Stati Uniti sono cresciute dell'81%, toccando 13,1 MSEK. Il sistema TetraGraph dell'azienda è stato installato in oltre 500 ospedali a livello globale. Nonostante la crescita, i costi operativi sono aumentati a 38,4 MSEK, causando una perdita operativa di 26,5 MSEK. L'azienda ha recentemente lanciato la sua generazione successiva di TetraGraph durante ANESTHESIOLOGY 2024, dotato di tecnologia Adaptive Intelligence. La posizione di cassa ammontava a 50,2 MSEK al 30 settembre 2024.

Senzime reportó resultados financieros sólidos para el tercer trimestre de 2024 con ventas netas de 17,4 MSEK, un aumento del 90% en comparación con el año anterior. Las ventas de sensores desechables aumentaron un 169% a 12,5 MSEK, mientras que las ventas en EE.UU. crecieron un 81% alcanzando 13,1 MSEK. El sistema TetraGraph de la empresa se ha instalado en más de 500 hospitales a nivel mundial. A pesar del crecimiento, los costos operativos aumentaron a 38,4 MSEK, resultando en una pérdida operativa de 26,5 MSEK. La compañía lanzó recientemente su próxima generación de TetraGraph en ANESTHESIOLOGY 2024, que cuenta con tecnología de Inteligencia Adaptativa. La posición de efectivo se situó en 50,2 MSEK al 30 de septiembre de 2024.

Senzime은 2024년 3분기 강력한 재무 실적을 보고했으며, 순매출 17.4 MSEK로 전년 대비 90% 증가했습니다. 일회용 센서 판매는 169% 증가하여 12.5 MSEK에 달했고, 미국 판매는 81% 성장하여 13.1 MSEK에 이르렀습니다. 회사의 TetraGraph 시스템은 전 세계 500개 이상의 병원에 설치되었습니다. 성장에도 불구하고 운영 비용이 38.4 MSEK로 증가하여 운영 손실이 26.5 MSEK에 달했습니다. 회사는 최근 ANESTHESIOLOGY 2024에서 Adaptive Intelligence 기술을 갖춘 차세대 TetraGraph를 출시했습니다. 현금 보유액은 2024년 9월 30일 기준 50.2 MSEK입니다.

Senzime a annoncé de solides résultats financiers pour le troisième trimestre 2024, avec des ventes nettes de 17,4 MSEK, soit une augmentation de 90 % par rapport à l'année précédente. Les ventes de capteurs jetables ont bondi de 169 % pour atteindre 12,5 MSEK, tandis que les ventes aux États-Unis ont augmenté de 81 % pour atteindre 13,1 MSEK. Le système TetraGraph de l'entreprise a été installé dans plus de 500 hôpitaux à l'échelle mondiale. Malgré cette croissance, les coûts d'exploitation ont augmenté à 38,4 MSEK, entraînant une perte d'exploitation de 26,5 MSEK. L'entreprise a récemment lancé sa prochaine génération de TetraGraph lors de ANESTHESIOLOGY 2024, dotée de la technologie d'Intelligence Adaptative. La position de trésorerie s'élevait à 50,2 MSEK au 30 septembre 2024.

Senzime hat starke Finanzergebnisse für das dritte Quartal 2024 gemeldet, mit Nettoverkaufszahlen von 17,4 MSEK, ein Anstieg von 90 % im Vergleich zum Vorjahr. Der Verkauf von Einweg-Sensoren stieg um 169 % auf 12,5 MSEK, während die Verkäufe in den USA um 81 % auf 13,1 MSEK zunahmen. Das TetraGraph-System des Unternehmens wurde in über 500 Krankenhäusern weltweit installiert. Trotz des Wachstums sind die Betriebskosten auf 38,4 MSEK gestiegen, was zu einem operativen Verlust von 26,5 MSEK führte. Das Unternehmen hat kürzlich sein nächstes Generations-TetraGraph auf der ANESTHESIOLOGY 2024 vorgestellt, das mit Adaptive Intelligence-Technologie ausgestattet ist. Die Liquiditätsposition betrug zum 30. September 2024 50,2 MSEK.

Positive
  • Net sales increased 90% to 17.4 MSEK in Q3 2024
  • Disposable sensor sales grew 169% to 12.5 MSEK
  • US market sales increased 81% to 13.1 MSEK
  • TetraGraph system installed base expanded to over 500 hospitals globally
  • Successful launch of next-generation TetraGraph system
Negative
  • Operating loss of 26.5 MSEK in Q3 2024
  • Gross margin declined to 63.0% from 69.4% year-over-year
  • Operating costs increased to 38.4 MSEK from 32.8 MSEK
  • Cash position decreased to 50.2 MSEK from 69.7 MSEK year-over-year

UPPSALA, SE / ACCESSWIRE / November 06, 2024 / Senzime (STO:SEZI)(OTCQX:SNZZF) Press release: Uppsala, November 6th, 2024. Senzime AB's (publ) interim report for January - September 2024 is now available on the company's website www.senzime.com.

Financial information July - September 2024

• Net sales amounted to TSEK 17,406 (9,154), an increase of 90 percent.
• Currency-adjusted net sales increased by 98 percent.
• Sales of disposable sensors amounted to TSEK 12,473 (4,644), an increase of 169 percent.
• In the USA, net sales increased to TSEK 13,117 (7,259), an increase of 81 percent.
• Sales of disposable sensors in the USA amounted to TSEK 9,136 (3,471), an increase of 163 percent.
• The gross margin before depreciation amounted to 63.0 percent (69.4).
• Operating costs amounted to TSEK 38,362 (32,841).
• Operating profit before depreciation amounted to TSEK -26,518 (-25,477).
• The result after financial items amounted to TSEK -31,964 (-30,587).
• Earnings per share amounted to SEK -0.26 (-0.33).
• Cash and cash equivalents as of 09/30/2024 amounted to TSEK 50,241 (69,735).

Financial information January - September 2024

• Net sales amounted to TSEK 44,443 (24,904), an increase of 78 percent.
• Currency-adjusted net sales increased by 81%
• Sales of disposable sensors amounted to TSEK 28,141 (12,878), an increase of 119 percent.
• In the USA, net sales increased to TSEK 33,127 (16,442), an increase of 101 percent.
• The gross margin before depreciation amounted to 63.5 percent (69.3).
• Operating costs amounted to TSEK 111,208 (102,320).
• Operating profit before depreciation amounted to TSEK -79,668 (-82,138).
• The result after financial items amounted to TSEK -94,942 (-97,542).
• Earnings per share amounted to SEK -0.77 (-1.16).

Extract from the CEO comment:

Strong sales growth driven by accelerated sensor sales and increased usage of TetraGraph systems, as we continue to win more strategic hospital accounts in the US market

It has been yet another eventful quarter for Senzime. We continue to demonstrate strong sales growth with net revenues of 17.4 million SEK, an increase of 90 percent. Sales of the TetraGraph system and its single-use sensors are particularly strong, with growth in constant currencies exceeding 100 percent. Once again, we closed a quarter with record sales.

The volume of delivered single-use sensors tripled, serving as a strong endorsement of our business model. Sales of sensors amounted to 12.5 million SEK, compared to 4.6 million SEK the previous year. In just over a year, we have delivered more than 1,000 TetraGraph systems to leading hospitals, and usage rates are increasing. We now have over 500 hospitals globally with the TetraGraph system installed, a figure that has significantly increased based on updated information from our Japanese licensing partner.

At the beginning of October, we launched our new next-generation TetraGraph at the annual major anesthesia congress, ANESTHESIOLOGY 2024, in the USA. We are now taking a significant step towards increasing patient safety in the operating room. The new next-generation TetraGraph system is truly a game-changer based on several groundbreaking clinical innovations including unique Adaptive Intelligence, thanks to extraordinary efforts of the Senzime team.

Our pipeline and outlook continue to look strong. The new next-generation TetraGraph system has been met with strong enthusiasm, and initial orders are already in place. I am confident that we will achieve profitability through continued high market penetration and increased system utilization. This will be driven by our commitment to providing the most user-friendly and innovative solutions and bolstered by strategic industry partnerships.

Presentation of the report

Senzime invites investors, analysts and press to a webcast presentation of the 2024 report on November 6 at 3 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 12.00 on November 6. 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 2024-11-06 08:30 CET.

Attachments

Senzime Interim Report Q3 ENG

SOURCE: Senzime



View the original press release on accesswire.com

FAQ

What was Senzime's (SNZZF) revenue growth in Q3 2024?

Senzime's net sales grew 90% to 17.4 MSEK in Q3 2024, with currency-adjusted growth of 98%.

How much did Senzime's (SNZZF) sensor sales grow in Q3 2024?

Senzime's disposable sensor sales increased 169% to 12.5 MSEK in Q3 2024.

What was Senzime's (SNZZF) performance in the US market for Q3 2024?

In the US market, Senzime's net sales increased 81% to 13.1 MSEK, with sensor sales growing 163% to 9.1 MSEK.

When did Senzime (SNZZF) launch its next-generation TetraGraph system?

Senzime launched its next-generation TetraGraph system at the ANESTHESIOLOGY 2024 congress in early October 2024.

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