Half Year 2024 Nexstim Oyj Earnings Call Transcript
Key Points
- Nexstim Oyj (FRA:5NX) reported a 27% increase in total net sales for H1 2024, reaching EUR3.2 million.
- The company achieved a significant improvement in profitability, with operating losses decreasing by 38% compared to the previous year.
- Recurring net sales, which provide stability and predictability, grew by 39% and now represent 61% of total net sales.
- Nexstim Oyj (FRA:5NX) has a promising sales forecast for the full year of 2024, indicating continued growth.
- The company is making effective use of its global team structure, resulting in a 30% increase in gross margin while keeping operating costs growth at only 3%.
- Nexstim Oyj (FRA:5NX) is currently in a disagreement with Magnus Medical regarding royalty payments, which may impact expected income.
- The company reported a negative EBITDA of EUR0.5 million, although this is an improvement from the previous year.
- There is a need for more clinical trials and approvals, particularly in the United States, for the chronic pain treatment application.
- The development and regulatory approval process for the new NBS-6 system is ongoing, which may delay its market availability.
- Nexstim Oyj (FRA:5NX) faces investment challenges in balancing operational profitability with the need for further clinical research and development.
Welcome to Nexstim's webinar for investors, analysts and media. Nexstim's CEO, Mikko Karvinen; and CFO, Joonas Juokslahti, will be giving a presentation that we'll take about half an hour. And after that, they are available for answering any questions you might have. (Operator Instructions)
And now let's move on to the webinar, first presenting as Nexstim's CEO, Mikko Karvinen. Go ahead, Mikko.
Thank you, Essi, and welcome, everyone, to this H1 2024, Nexstim presentation of the results. My name is Mikko Karvinen. I'm the CEO of Nexstim, and joining this webinar by our CFO, Joonas Juokslahti. I'll be now switching into sharing my presentation. Seems like there is a technical issue.
Let's see if you can see the slides I'm now presenting my screen. Okay. So let's go ahead. So we will be presenting our H1 '24 numbers, but also before I start with the, H1 content, I will be briefly presenting a bit about Nexstim in general. Then moving on to talking a bit about
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