- Revenue Grew 34% YoY to
- Pulse Recurring Revenue Increased to
- Announced a Key Agreement with
Financial Highlights (1H’22)
- 1H’22 Revenue of
$13.7M , a year on year increase of 34%- Recurring Revenue of
$2.9M , a year on year increase of 203%, representing more than 20% of total revenue - Gross Profit was
$10.1M an increase of 34% - IFRS Gross Margin was 73.8%; Non-IFRS 74.7%
- IFRS Operating Loss was
$9.0M ; Non-IFRS$6.3M
- Recurring Revenue of
- Q2’22 Revenue was
$8.1M - Cash as of
June 30, 2022 was$36M
Management Commentary
Mr.
“With half of the remaining fiscal reporting period to go, we have also surpassed the number of Sofwave treatments performed for the whole of fiscal 2021. We are also delighted to note our success in activating brand awareness and patient engagement campaigns across social media. As a critical part of our commercial growth strategy, we also seeded the necessary infrastructure to expand cross border sales in
“We continue to broaden the clinical indications of our SUPERB technology and are pleased to note that we completed the recruitment of patients in our multi-site US trial for treatment of cellulite. We believe that the unique advantages of SUPERB, clearly proven clinically and commercially in facial and neck treatments will also be demonstrated in our cellulite clinical data; and once cleared by the FDA will significantly expand the revenue streams of physicians using our technology,” noted Dr.
Operational Highlights (1H’22)
- Earned four major beauty awards including Cosmopolitan, Shape and Elle Magazines
- >25,000 Sofwave treatments administered in first half of fiscal 2022 versus <25,000 for all of fiscal 2021
- Signed key collaboration and distribution agreement with a major partner for the Chinese market
- Grew social media following to >350,000 followers
- 8 of 15 top cosmetologists as ranked* by Newsweek,
June 2022 are now KOL advocates and users of Sofwave U.S. sales team expanded to 30 members- International leadership team strengthened with the addition of two highly-experienced regional managers
- Completed patient enrollment in cellulite clinical trial
Financial Summary (1H’22)
IFRS Results ( | ||
H1 2022 | H1 2021 | |
Revenues | ||
Gross Profit | ||
Gross Margin | 73.8% | 73.8% |
Operating Loss | ( | ( |
*Non-IFRS Results ( | ||
H1 2022 | H1 2021 | |
Gross Profit | ||
Gross Margin | 74.7% | 73.8% |
Operating (Loss)/Profit | ( |
(*) Excluding stock-based compensation
About
Contact: Info@sofwave.com
Investor Contact:
(212) 915-2578
britchie@lifesciadvisors.com
Source:
2022 GlobeNewswire, Inc., source