Half Year 2024 Oneview Healthcare PLC Earnings Call Transcript
Key Points
- Oneview Healthcare PLC (ASX:ONE) reported a 16% increase in contracted beds year-to-date, indicating strong demand for their products.
- The company has a high customer retention rate, with some clients having been with them for over a decade.
- The partnership with Baxter International is providing unparalleled access to the US market, enhancing growth opportunities.
- Gross margins have improved significantly, up 20%, with absolute gross margin up 73% to an all-time high since going public.
- The company has successfully transitioned all customers to their Android Care Experience Platform, simplifying operations and reducing complexity.
- Significant revenue delays were experienced in the first half of the year due to health system consolidations and construction delays.
- Operating expenses increased by 25%, reflecting additional hires to support upcoming Baxter implementations.
- The company reported an operating EBITDA loss of EUR 0.9 million higher than last year and a loss after tax increased by EUR 1 million to EUR 5.5 million.
- There is a projected national shortfall of over 350,000 nurses in the US by 2026, which could impact the adoption of their technology.
- The Australian private hospital market is experiencing procurement challenges, affecting potential growth in that region.
Thank you for standing by, and welcome to the Oneview Healthcare Half Year 2024 Results Announcement. (Operator Instructions). I would now like to hand the conference over to Mr. James Fitter, CEO. Please go ahead.
Thanks, Ashley, and good morning, everyone. Good afternoon to those of you in the United States, and good evening to those joining from Ireland. Welcome to the half-year 2024 results presentation. Let me start by just the usual reminder the legal disclaimer that's in the presentation.
I just want to remind everyone that we are a calendar year-end reporting entity. So we are reporting the first half results for the six months ended June 2024, and our reporting currency is Euros, not Australian dollars. Joining me today, three of the leadership team, JP Howe, our Chief Operating Officer; Niall O'Neill, our Chief Product and Strategy Officer; and Helena D'Arcy, our CFO. It would be remiss of me not to make a special mention of Helena.
This will be
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