Half Year 2024 Tissue Regenix Group PLC Earnings Call Transcript
Key Points
- Revenue increased by 16% in the first half of 2024.
- Gross profit margin improved from 49% to 53%.
- Adjusted EBITDA profit more than doubled to $1.1 million compared to $0.9 million for the entire 2023.
- dCELL division delivered robust 34% growth.
- Strong strategic partnerships, including with Arthrex, a leading sports medicine company.
- BioRinse division faced regulatory headwinds, impacting growth.
- Administrative costs increased by 13%, outpacing inflation.
- Regulatory approvals are taking longer than anticipated, affecting market expansion.
- Cash position decreased compared to the same period in 2023 due to increased inventory levels.
- Challenges in predicting the pace of regulatory approvals, causing delays in market entry.
Good afternoon, and welcome to the Tissue Regenix Group plc interim results investor presentation. (Operator Instructions) The company may not be in a position to answer every question received during the meeting itself; however, the company can come to you all the questions submitted today and publish responses where it's appropriate to do so. Before we begin, I'd like to submit the following poll.
Now, I'd like to hand over to Daniel Lee, CEO. Good afternoon to you, sir.
Good afternoon. Thank you, Alessandro, and thank you to all the viewers. Thank you for giving us some time to spend with you and give you an update on Tissue Regenix interim 2024 results. We'll spend about the next 25 minutes discussing the company, the activities, some of our achievements as well as our plans for the balance of the year as well as beyond whilst it's certainly time for questions after the presentation.
So this is the disclosure slide that I encourage everyone to review when
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