Redsense Medical (REDS) Q4 2024 earnings summary

Executive summary

• Achieved record Q4 net sales of KSEK 12,687, up from KSEK 8,025 year-over-year, leading to the first full-year positive result in company history.

• Q4 sales benefited from partial Q3 order delivery and strong replenishment orders from US distribution partners.

• Strategic focus on US reimbursement, operational streamlining, and team strengthening positions the company for continued growth in 2025.

Financial highlights

• Q4 2024 net sales: KSEK 12,687 (Q4 2023: KSEK 8,025); full year 2024: KSEK 28,176 (2023: KSEK 24,967).

• Q4 EBIT: KSEK 5,525 (Q4 2023: -927); full year EBIT: KSEK 209 (2023: -5,037).

• Q4 net income: KSEK 5,629 (Q4 2023: -950); full year net income: KSEK 342 (2023: -4,513).

• Gross margin Q4: 64% (Q4 2023: 52%); full year: 62% (2023: 50%).

• Cash and cash equivalents at year-end: KSEK 15,356 (2023: KSEK 6,966).

Outlook and guidance

• Q1 2025 net sales to date exceed 3M SEK, with further US partner reviews planned.

• Commercial launch of the Redsense Clamp expected by end of Q1 2025 in the UK and Canada.

• US reimbursement efforts ongoing, with HCPCS application under review and preliminary findings expected by April/May 2025.