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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Carmat
Carmat (ALCAR) investor relations material
Carmat has been delisted
Carmat H2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 2024 earnings summary29 Apr, 2025
Executive summary
2024 revenue reached €7.0 million, driven by sales of 17 Aeson® hearts for commercial use and 25 for the EFICAS clinical trial in France.
Operating loss improved to €49.2 million in 2024 from €52.5 million in 2023, reflecting tight cost control.
Net loss narrowed to €51.4 million, a €2.5 million improvement year-over-year.
Focused on commercial expansion in Europe, EFICAS trial progress, US feasibility study preparations, supply chain optimization, and financial structure reinforcement.
Financial highlights
Cash position at year-end 2024 was €4.7 million, down from €8.0 million at end 2023.
Monthly cash burn reduced to €3.7 million in 2024 from €4.9 million in 2023.
Net financial debt increased to €53.1 million at December 31, 2024, up from €49.6 million a year earlier.
Three capital increases in 2024 raised €42.8 million gross; additional €9.7 million raised in January 2025.
Outlook and guidance
Available secured financial resources expected to fund operations until mid-June 2025 under the current business plan.
Actively exploring financing options to extend cash runway beyond June 2025, including a potential capital increase.
Recent sales growth, EFICAS trial progress, and FDA approval for US study cohort expected to support future fundraising.
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Frequently asked questions
Carmat SA is a French medical technology company that specializes in the development and manufacturing of advanced artificial heart systems. The company's flagship product is the Aeson, a biocompatible, fully implantable total artificial heart designed to provide a life-saving alternative for patients suffering from end-stage biventricular heart failure. Carmat's innovative heart prosthesis mimics the natural human heart's functions and aims to bridge the gap for patients awaiting heart transplants. Carmat SA is headquartered in Vélizy-Villacoublay, France, and its shares are listed on the Euronext Paris.