Half Year 2024 Novacyt SA Earnings Call Transcript
Key Points
- Successful resolution of the DHSC dispute resulted in a net cash inflow of over GBP7 million.
- Year-on-year revenue increased by GBP7 million to over GBP10 million, driven by the inclusion of Yourgene sales.
- Strong growth in key product areas: cystic fibrosis product growing at 30% and NIPT product at 12%.
- Achieved cost savings of GBP5 million, 18 months ahead of schedule.
- Cash position strengthened to GBP36.5 million by the end of August 2024.
- Reported a loss after tax of GBP17.7 million in H1 2024.
- EBITDA remained flat year-on-year at a loss of GBP5.6 million.
- OpEx increased to GBP32 million due to a GBP20 million bad debt provision.
- Revenue from the Ranger Technology segment slightly down year-on-year.
- Limited material news flow, leading to potential investor concerns.
Good morning, and welcome to the Novacyt Investor presentation. (Operator Instructions) Before we begin, I'd like to submit the following poll. For the benefit of those joining us from France.
(spoken in foreign language) I'd now like to hand you over to Lyn Rees. Good morning to you sir.
Thank you very much, and good morning, everyone. And obviously, thank you for joining us and taking some time out to listen to our interim presentation this morning. Presenting to you today myself, I'm now the CEO of Novacyt in situation since May 1.
Prior to that, I spent six years at Yourgene and prior to that, I was with BBI so in the industry for 20 odd years plus the mode of acquisitions and looking forward to presenting the results today alongside me, we have Steve.
Hey, good morning, everyone. Thanks, Lyn, say Steve Gibson on the CFO there with no oversight now around seven and a half years and prior to that,
Access to All Earning Calls and Stock Analysis | |
30-Year Financial on one screen | |
All-in-one Stock Screener with unlimited filters | |
Customizable Stock Dashboard | |
Real Time Insider Trading Transactions | |
8,000+ Institutional investors’ 13F holdings | |
Powerful Excel Add-in and Google sheets Add-on | |
All data downloadable | |
Quick customer support | |
And much more... |