TruScreen Group (TRU) H2 2024 earnings summary

Executive summary

• Achieved significant milestones in FY2024, including national recognition and regulatory approvals in China, Vietnam, and Mexico, and insurance reimbursement in Saudi Arabia.

• Revenue growth accelerated, with a 27% increase in sales, led by a 25% rise in consumable Single Use Sensor (SUS) sales.

• China remains the largest and fastest-growing market, with 45% year-over-year growth and expanded hospital adoption.

• New CEO appointed and $2.65 million in growth capital raised to fund market expansion.

Financial highlights

• Revenue increased 18.3% to $2.60 million compared to FY2023.

• Net loss reduced by 14.6% to $2.05 million year-over-year.

• Cash outflow from operating activities improved by 7.3% to $2.03 million.

• Cash and cash equivalents rose 26.3% to $2.73 million at year-end.

• Basic and diluted loss per share improved to (0.49) cents from (0.66) cents.

Outlook and guidance

• Focus remains on achieving positive cash flow by late FY2025.

• Continued expansion into new markets, including Kenya, Uzbekistan, Kazakhstan, and Southeast Asia.

• Ongoing clinical validation and health economics studies to support further market access and reimbursement.