EMVision Medical Devices (EMV) H2 2024 earnings summary

Executive summary

• Achieved 63% revenue growth to $11.56m, driven by non-dilutive grants and R&D tax incentives, while reducing net loss by 29% to $2.73m year-over-year.

• Advanced commercialisation of portable neurodiagnostic scanners, completing a multi-site clinical trial and establishing a pilot production line.

• Secured a $15.28m strategic investment from Keysight Technologies to fund validation studies and accelerate US market entry.

• Launched a proof-of-concept First Responder device, attracting significant clinical and industry attention.

Financial highlights

• Revenue increased 63% to $11,560,412 compared to $7,092,740 in FY23, mainly from grants and R&D rebates.

• Net loss after tax improved to $2,729,610 from $3,870,705 in FY23.

• EBITDA loss narrowed to $1,505,576 from $3,493,419 in FY23.

• Operating expenses rose 40% to $12,191,955 due to expanded R&D and clinical trials.

• Cash at year-end was $18,601,524, up from $9,894,308.

Outlook and guidance

• Preparing for FDA meeting to finalise US validation trial protocol, with US and Australian sites planned.

• Anticipates further grant funding of $1.4m from the Australian Stroke Alliance, subject to milestones.

• Ongoing studies and development for First Responder device, including ambulance and air trials.