Camsing Healthcare (BAC) Q3 2024 TU earnings summary

Executive summary

• 9MFY2024 revenue declined 6% YoY on reduced product demand; gross margin improved, but net loss widened and net liabilities increased. Operating cash flow turned positive.

• Q3FY2024 revenue fell 21% YoY to S$1.371m, while loss before tax was broadly stable at S$598k versus S$600k.

Financial highlights

• 9MFY2024 revenue was S$4.185m, down 6% YoY; gross profit was S$2.435m, down 3%.

• 9MFY2024 loss before tax and net loss were S$1.603m, versus S$1.562m a year earlier; lower revenue, higher finance costs and lower other income were partly offset by lower expenses.

• Q3FY2024 gross profit was S$796k, down 19% YoY; loss before tax was S$598k versus S$600k.

• 9MFY2024 marketing and distribution expenses declined 4% to S$2.888m, and administrative and other operating expenses declined 6% to S$808k.

Outlook and guidance

• No formal forecast was previously issued; plans include new product development, additional sales channels and prudent cost management.

• New investment agreements are intended to provide financing for business initiatives; release of S$5.1m held in escrow is subject to conditions, including completion of discussions and resumption of share trading.