Peptonic Medical (PMED) Q2 2024 earnings summary

Executive summary

• Signed exclusive distribution agreement for VagiVital and Vernivia in Benelux; first order delivered during the quarter.

• Three new patents granted in the US, Europe, and Australia, strengthening product exclusivity and pipeline.

• Nordic sales grew 60% year-over-year, driven by key products and digital marketing efforts.

• Group revenue declined due to the wind-down of Lune Group Oy, but cost-saving measures are expected to improve results by year-end.

Financial highlights

• Q2 2024 group sales: 6,112 KSEK (11,930 KSEK Q2 2023); H1 2024: 16,920 KSEK (20,804 KSEK H1 2023).

• Q2 gross profit: 2,836 KSEK (6,214 KSEK), gross margin 46% (52%).

• Q2 operating result: -11,011 KSEK (-7,377 KSEK); H1: -21,409 KSEK (-14,031 KSEK).

• Q2 EPS: -0.01 SEK (-0.01 SEK); H1: -0.01 SEK (-0.01 SEK).

• Cash and bank at June 30: 1,833 KSEK (12,722 KSEK); post-period rights issue added ~30 MSEK.

Outlook and guidance

• Focus on organic growth, with significant investments in marketing, especially digital and e-commerce.

• Continued expansion in the US and Europe, with cost-efficiency measures expected to show full effect by year-end.