Oneview Healthcare (ONE) H1 2024 earnings summary

Executive summary

• Report covers first half of 2024, with results in euros for the six months ended June 2024.

• Company operates across 100+ hospitals in 24 health systems on four continents, focusing on cloud-based SaaS for connected patient rooms.

• Four major new enterprise healthcare system contracts signed, increasing contracted beds by 16% year-to-date.

• Strategic partnership with Baxter International is delivering significant US market access and expected to drive 3,000–5,000 additional beds per year.

• Leadership transition: CFO Helena D’Arcy stepping down, Darragh Lyons appointed as new CFO effective September 2024.

Financial highlights

• Recurring revenue increased 8% year-over-year to €3.57 million; total revenue up 7% to €4.67 million for H1.

• Gross margin improved by 8 percentage points to 73%, reaching an all-time high.

• Operating expenses rose 25% due to increased headcount for Baxter partnership scaling.

• Operating EBITDA loss widened by €0.9 million to €3.71 million; net loss after tax increased 23% to €5.49 million.

• Cash balance at June 30, 2024, was €6.0 million, with no debt.

Outlook and guidance

• Material revenue growth expected in H2 2024 as delayed projects go live and new contracts commence.

• Baxter partnership and MyStay Mobile launch anticipated to further expand US market penetration and drive growth in 2025.

• Focus on converting contracted beds to live beds and improving speed to value through scalability initiatives.

• No interim dividend is recommended.