October - December 2023 - Net sales amounted to kSEK 8,025 (8,027).
-
Operating loss, EBIT amounted to kSEK -927 (555).
-
Result after tax amounted to kSEK -950 (-2,297).
-
Earnings per share were
SEK -0.07 (-0.16).
Significant events during the period- On
October 26 , Redsense Nomination Committee for the 2024 Annual General Meeting was announced. -
On
December 23 , Redsense notified the market that Chairman of the Board, Patrik Byhmer, passed away.
Significant events after the period- On
January 8 , Redsense announced that Eva Walde was appointed new Chairman of the Board. -
On
January 9 , Redsense announced a change in the Nomination Committee for the 2024 Annual General Meeting. -
On
February 6 , the largest owner Seventh Sense Adventures Holding AB announced the continuation as a long-term investor after the change in ownership, following the passing of Patrik Byhmer. -
On
February 15 , Redsense announced that American Association of Kidney Patients supports the Home Dialysis Risk Prevention Act.
Strong Fourth Quarter rounds off record sales in 2023
- On
October 26 , Redsense Nomination Committee for the 2024 Annual General Meeting was announced. -
On
December 23 , Redsense notified the market that Chairman of the Board, Patrik Byhmer, passed away.
Significant events after the period- On
January 8 , Redsense announced that Eva Walde was appointed new Chairman of the Board. -
On
January 9 , Redsense announced a change in the Nomination Committee for the 2024 Annual General Meeting. -
On
February 6 , the largest owner Seventh Sense Adventures Holding AB announced the continuation as a long-term investor after the change in ownership, following the passing of Patrik Byhmer. -
On
February 15 , Redsense announced that American Association of Kidney Patients supports the Home Dialysis Risk Prevention Act.
Strong Fourth Quarter rounds off record sales in 2023
We are pleased to finish the year on a high note and repeat the strong sales of the fourth quarter in 2022. Overall, 2023 was an excellent year with record sales of kSEK 24,967 (14,340) giving a net sales growth of 74% compared to the same period in 2022. Net sales for the fourth quarter amounted to kSEK 8,025 (8,027) with the main driver being the US market, comprising a combination of deliveries of the large order from
Building momentum in the US
The US home hemodialysis segment is currently our main market. During the fourth quarter, our US distributors saw a solid increase in sales to the end-users, i.e. the dialysis providers. The increased demand for Redsense products in this segment is promising for our business in 2024. Even though the sales trend to the dialysis providers is clearly positive, we may experience variations in order size and frequency from our US distributors due to stock-keeping at the distributors. This in turn may mean possible fluctuations in quarterly sales numbers. However, we strongly believe in the continued growth of the home hemodialysis segment, and thereby also our US business.
Besides a growing market for home hemodialysis, an enactment of the Home Dialysis Risk Prevention Act in the US, is another possible growth driver and a way to increase market access. At present, the Redsense Alarm System is not used for all home hemodialysis patients. With the Medicare coverage that will follow implementation of this legislation, reimbursement will be an important incentive for dialysis providers to expand the usage of the Redsense Alarm System for this modality. During the quarter, we have continued our efforts to increase awareness of Venous Needle Dislodgement (VND) among members of
VND is one of the remaining safety issues during hemodialysis, and the Redsense blood loss detection system can make a real difference in avoiding advert events, and as such save lives. During the quarter we have been busy promoting the use of the Redsense Alarm System at several conferences and meetings. One highlight was the world's largest nephrology conference, the
Launch of Clamp
We are making good progress with the Clamp usability study at the
Looking forward to 2024 with confidence
2023 was an eventful year with progress in many areas, and we have laid a solid foundation for future growth. With the strong finish to 2023, we enter 2024 with a great deal of momentum and high expectations. We do this under the sales-oriented leadership of our new Chair of the Board,
We aim to continue our growth journey in 2024, with our strong position in the US home hemodialysis market as the foundation. We will intensify our sales and promotional activities in this segment. In addition, promotion of the Home Dialysis Risk Prevention Act is high on the agenda as a possible market access opportunity. Another important growth initiative for 2024 is the CE mark and subsequent launch of the Clamp. When it comes to the Clamp, we also plan to submit a 510(k) application to the FDA in 2024 in order to pave the way for future clearance on the important US market.
We have a unique product that fulfills a significant need to improve patient safety for hemodialysis patients.
I look forward to keeping you updated on our continued progress, with several important milestones to be achieved in 2024.
Finally, I would like to express my appreciation to the team for all their contributions and dedication in making 2023 a successful year for Redsense!
Pontus Nobréus
CEO
This information is information that
Contact information
For more information, please contact:
Pontus Nobréus
CEO
Telephone: +46 72-171 1264
E-mail: pontus.nobreus (at) redsensemedical.com
ABOUT
https://news.cision.com/redsense/r/correction--missing-mar-lable-in-previous-press-release----year-end-report---january---december--202,c3936360
https://mb.cision.com/Main/12367/3936360/2629939.pdf
https://mb.cision.com/Public/12367/3936360/8eccd0ea173d9a11.pdf
(c) 2024 Cision. All rights reserved., source