Full Year 2023 Oneview Healthcare PLC Earnings Call Transcript
Key Points
- Total revenue for the year reached EUR9.4 million, with recurring revenue at EUR6.6 million.
- Gross margin improved by 6%, reflecting better cost management and revenue mix.
- Record year for new customer adoption with six net new logos, including significant wins in New Zealand and Ireland.
- Successful launch of MyStay Mobile, expanding the addressable market and reducing the need for in-room hardware.
- Strong cash balance at year-end, bolstered by a well-supported capital raise and oversubscribed share purchase plan.
- Elongated sales cycle remains a challenge, impacting the speed of revenue realization.
- Tactical churn from three customers unwilling or unable to migrate to Android hardware, resulting in some revenue loss.
- Unexpected project delays pushed hardware deliveries for three customers into 2024, reducing forecasted total revenue by approximately EUR2.9 million.
- Operating EBITDA loss for the year was EUR5.74 million, despite a 20% reduction from the prior year.
- Headcount reduction in the last quarter of 2022, followed by a need to ramp up staffing again, indicating potential instability in workforce management.
Thanks very much and good morning, everyone in Australia, good afternoon to those here in the United States where I'm calling from and in Dublin, Ireland, good evening to my colleagues who will be joining me very shortly.
So firstly, just the usual legal disclaimer around, particularly around forward-looking statements, which I encourage you to read. I'd also just remind you that all amounts in the presentation are in euros, which remains our reporting currency unless otherwise specified. And of course, we are referring to full year results for the year ended December 2023.
Joining me on the call today is Helena, our Chief Financial Officer; Niall, our Chief Product and Strategy Officer; and JP, our Chief Operating Officer, who are going to be updating you on a couple of the key developments in their respective sections. Just a reminder, our vision is to power personalized exemplary care experiences.
In the agenda today, we are going to obviously look at the 2023 year-end review. Niall is going
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