Atrys Health (ATRY) Q4 2024 earnings summary

Executive summary

• Revenue grew 5.5–5.6% year-over-year to €212.7M in 2024, with over 9 million medical acts performed, up 18.5% from 2023.

• Net attributable loss narrowed by 30.8% to €31.8M, reflecting improved but still negative profitability.

• Expanded operations across Spain, Portugal, Chile, Colombia, Peru, Brazil, and Mexico, with 200 centers and 46 oncology services.

• Cash and equivalents at year-end were €20.4M, down from €41.8M at the end of 2023.

• Focused on innovation in prevention, diagnosis, and oncology, with significant investments in technology and efficiency.

Financial highlights

• Gross margin decreased to 65.8% from 68.1% due to business mix changes; would have improved by 0.3% excluding mix effects.

• Adjusted EBITDA rose 13.8% to €48.5M; adjusted EBITDA margin improved to 22.8% from 21.1%.

• Operating cash flow increased 25% to €28M; adjusted operating cash flow up 20.1% to €35.3M.

• CAPEX stable at €13.1M; R&D CAPEX up 30.1% to €5.7M.

• Basic EPS was negative €0.42, improving from negative €0.60 in 2023.

Outlook and guidance

• 2024 guidance met for both revenue and adjusted EBITDA.

• Continued focus on operational efficiency, digitalization, and international expansion.