Q2 2024 Senzime AB (publ) Earnings Call Transcript
Key Points
- Sales numbers were up 76% quarter-over-quarter, with the US market showing a 167% increase.
- Senzime AB (SNZZF) secured 40 new hospital accounts during the quarter, including prestigious US pediatric hospitals.
- The company shipped over 2,600 monitors and just under 50,000 sensors in the quarter, nearly doubling from last year.
- Senzime AB (SNZZF) was awarded a new European patent, enhancing its competitive edge.
- The company has a strong institutional backing, including support from the Crafoord family and Segulah group.
- Gross margin was slightly lower this quarter due to high growth in the US and a high portion of instrument sales.
- The European market remains flat with slow adoption of the technology.
- Increased costs due to scaling up production and launching a new product line of sensors.
- The company extended its short-term guidance, indicating it will take another 12 months to reach SEK300 million in sales.
- There is some price pressure in the US market for monitors due to professional procurement buyers negotiating larger volumes.
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Hello, and welcome to Carnegie and today's presentation with Senzime and its Q2 report. My name is Klas Palin, and I'm an equity analyst. And with me in the studio, I have Philip Siberg, who is CEO of Senzime. Very welcome, Philip.
Thank you. Nice to be here.
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And it would be really interesting to hear your presentation of the Q2 report. Please go ahead, Philip.
All right. Thank you, and thank you for listening-in into this. It's both a Q2 report, but also a little bit of an update today on some of our long- and short-term guidance and what we believe in the market. So for those of you who don't know Senzime, a quick recap. We are a Sweden headquartered medical device company.
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