Atrys Health (ATRY) Q4 2024 earnings summary

Executive summary

• FY2024 revenue reached €212.7M, up 5.5% year over year (7.2% at constant exchange rates); over 9 million medical acts were performed, up 18.5%

• Operations spanned Spain, Portugal, Chile, Colombia, Peru, Brazil and Mexico, with 200 centers and 46 oncology services

• Growth was organic and reported across all business areas, supported by investment in technology, innovation and efficiency

Financial highlights

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

• Attributable net loss narrowed 30.8% to €31.8M; consolidated loss was €31.7M, down 31% year over year

• Gross margin was 65.8%, down from 68.1% due to business mix; gross margin would have improved 0.3% excluding mix effects

• Adjusted operating cash flow rose 20.1% to €35.3M; reported net cash from operating activities was €3.0M, versus €5.7M in 2023

• CAPEX was €13.1M; R&D CAPEX increased 30.1% to €5.7M

Outlook and guidance

• 2024 revenue and adjusted EBITDA guidance was met

• Operational efficiency, digitalization and international expansion remain strategic priorities; no quantified forward guidance was stated