SECOND QUARTER 2023/24 (MAY - JULY)
- Net sales amounted to
SEK 27.6 (20.2) million, which is an increase of 36% compared with the corresponding period last year. The growth in the US market is 27% compared with the corresponding period last year. - Operating profit amounted to
SEK 6.5 (0.9) million. Excluding direct currency effects, the operating profit is at 3.8 MSEK (-5.2). - Profit/loss after tax amounted to
SEK 3.9 (2.3) million, which resulted in earnings per share ofSEK 0.21 (0.13). - Cash flow from operating activities amounted
- to
SEK 6.8 (-5.3) million. Liquid assets as of 2023-10-31 amounted toSEK 33.3 (53.4) million.
Significant events in the quarter
- In the quarter, The
Centers for Medicare and Medicaid Services (CMS) granted the osseointegrated external prosthetic connection device Axor II™ a new reimbursement code. The new code is connected to a set reimbursement that will help to drive growth in the US. - The company appointed
Alex Winber as Vice President Sales and Marketing with full focus on the US. The appointment is part of restructuring the company's sales and marketing organization, focusing on executing growth in the US. - The Board of Directors initiated a review and evaluation of strategic alternatives to further accelerate the global roll-out of its unique OPRA™ Implant System.
- The company received a Unitary Patent approval pertaining to NeuromotusTM. The patent grants immediate proprietary rights to
Integrum in 17 separate European countries. - During the quarter, the company entered into the Turkish market with the OPRA™ Implant system in collaboration with the distributor Medikon.
- In the period,
Scott Flora was elected as full member of the company's board at the annual general meeting. - CEO
Rickard Brånemark moderated a workshop inUkraine on 21 September, focusing on war-related amputee care. Also he visitedKyiv, Ukraine , to treat wounded soldiers, to train Ukrainian orthopaedic surgeons in advanced amputee care and to support the build-up of expanded trauma healthcare.
1 MAY - 31 OCTOBER 2023/24 (6 MONTHS)
- Net sales amounted to
SEK 48.0 (37.5) million, which is an increase of 28% compared with the corresponding period last year. The growth in the US market is 22% compared with the corresponding period last year - Operating profit amounted to
SEK 3.5 (1.2) million.
- Profit/loss after tax amounted to
SEK 1,2 (1.8) million, which resulted in earnings per share ofSEK 0,06 (0.1). - Cash flow from operating activities amounted
toSEK 4.2 (-11.5) million. Integrum announced that Shirley Ryan AbilityLab has received a five-year clinical research grant totalingUSD 8.7 million from theNational Institutes of Health (NIH). It is anticipated thatIntegrum will receive up toUSD 1.3 million during the program to support the study activities.
CEO's statement
Our second quarter has been intense with record sales, increased operating profit and a number of great achievements that will help drive the business forward. We have made important changes in the US organization, entered new markets, received a new reimbursement code for our connection device Axor II(TM), and initiated a strategic review process to accelerate growth. After the period ended, the FDA cleared a clinical study on below-knee amputation that will be fully funded by the
Strong financial results in the second quarter
Revenues amounted to
Increased number of surgeries and strong momentum for Axor II(TM)
Besides increased numbers of surgeries performed in the US, one contributing factor to the strong sales development in the period is increased sales of
Sharpened team in the US
During the quarter,
Entering new markets
The US market is still our top priority, but for our long-term goal to set a new global standard in the care of amputees, every new market entry in the rest of the world is a step in the right direction. At the end of October,
Paves the way for new indications
Following a pre-submission meeting with the
New clinical trial instrumental for additional indications
FDA has now cleared the start of a clinical study with OPRA(TM) Implant System on the below-knee amputation level. The study will include up to 30 patients, is fully funded by the
Ongoing strategic review to boost future growth
To ensure that we fully leverage the positive results we now see both in business and operations, the board of directors has initiated a review and evaluation of strategic alternatives to further accelerate the global roll-out of Integrum´s unique OPRA(TM) Implant System. The strategic review aims to ensure that the global roll-out of
Mölndal,
Rickard Brånemark
Chief Executive Officer
The interim report can be found here:
https://integrum.se/investor-relations/financial-reports-calendar/
This disclosure contains information that
For more information please contact:
Rickard Brånemark, CEO. Phone: +46 70 846 10 61, E-mail: rickard.branemark@integrum.se
Jörgen Svanström, CFO. Phone: +46 70 734 96 60, E-mail: jorgen.svanstrom@integrum.se
Certified Adviser:
The Company's Certified Adviser is
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https://mb.cision.com/Public/17531/3887239/88ea36b149ee53b1.pdf
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