APT Medical (688617) Q4 2024 earnings summary

Executive summary

• Revenue reached ¥2.07 billion, up 25.18% year-over-year; net profit attributable to shareholders was ¥673.15 million, up 26.08% year-over-year.

• R&D investment totaled ¥290.54 million, accounting for 14.06% of revenue; 35 new invention patents were filed and 13 granted.

• Domestic and international market expansion continued, with international business growing 45.88% year-over-year.

• Major product launches included new electrophysiology and vascular intervention devices, with significant regulatory approvals in 2024.

Financial highlights

• Operating income: ¥2.07 billion, up 25.18% year-over-year.

• Net profit attributable to shareholders: ¥673.15 million, up 26.08% year-over-year.

• Gross margin: 72.71%, up 1.25 percentage points year-over-year.

• Basic EPS: ¥6.96, up 25.63% year-over-year.

• Operating cash flow: ¥743.39 million, up 7.88% year-over-year.

Outlook and guidance

• Focus on expanding electrophysiology and vascular intervention product lines, with continued investment in R&D and international market penetration.

• 2025 plans include new product launches in PFA, aortic stent, and other innovative devices, and further expansion of sales and channel teams.

• Continued emphasis on talent development, digital transformation, and operational efficiency.