Interim Report January-March 2024 By Investing.com

UPPSALA, SWEDEN / ACCESSWIRE / May 7, 2024 / Senzime (STO:SEZI)(OTCQX:SNZZF) Press release: Uppsala, May 7th, 2024. Senzime AB’s (publ) interim report for January – March 2024 is now available on the company’s website www.senzime.com.

Interim Report January – March 2024

• Net sales amounted to TSEK 12,120 KSEK (7,288), a 66 percent increase. Sales of instruments were TSEK 4,864 (3,443), a 41 percent increase. Sales of disposables were TSEK 7,256 (3,844), an 89 percent increase.
• Net sales adjusted for currency effects increased by 66 percent.
• The gross margin excluding amortization was 64.3 percent (68.5).
• EBITDA was TSEK -23,911 (-26,461).
• Profit (loss) after financial items was TSEK -28,719 (-31,691).
• Earnings per-share were SEK -0.23 (-0.42).
• Cash and cash equivalents as of March 31, 2024, were TSEK 116,856 (73,803).

Highlights first quarter:

• Senzime secured its largest US deal to date from leading Houston-based university hospital system. The procurement includes deliveries to several hospitals and initially consists of more than 250 TetraGraph systems for use on up to 100,000 patients per year.
• Senzime’s licensee Fukuda Denshi launched the HN-100, the first integrated TetraGraph module in the Japanese market. The HN-100 is marketed as an accessory to Fukuda Denshi’s patient monitoring system to enable EMG-based neuromuscular monitoring in operating rooms.

CEO comment:
It has been another eventful quarter for Senzime . We continue to report strong growth and net sales increased by 66 percent to SEK 12.1 million. Another quarter with record sales.

The sales growth is driven by strategically important new business and recurring sales of disposable sensors to the installed base of TetraGraph systems. Sales of disposable sensors are growing steadily, which is an important signal that the degree of utilization of the TetraGraph systems on the market is gradually increasing.

The important US business continues to develop well. The new commercial organization that we launched in 2023 is generating excellent results. We now have around half of all our employees based in the US and the team was expanded with additional sales reps during the quarter. The important hospital contracts we won in 2023 in larger competitive evaluations are now driving sensor sales. We secured over 20 new hospital accounts in the US during quarter. The hospitals value our complete product offering,…