Brain+ (BRAINP) H2 2024 earnings summary

Executive summary

• Transitioned from development to commercial focus, launching Ayla - your CST Assistant in Denmark and the UK as a certified medical device, targeting scalable dementia care solutions.

• Built a strong UK sales pipeline exceeding €600,000, closed first UK care home contract, and expanded Danish municipal contracts.

• Restructured in early 2025 to reduce operational expenditures and focus resources on sales, aiming for operational break-even by mid-2026.

Financial highlights

• Gross profit increased slightly to DKK 2.5 million in 2024 from DKK 2.4 million in 2023.

• Net loss reduced to DKK 12.0 million from DKK 19.1 million year-over-year, at the lower end of expectations.

• Total income rose to DKK 7.9 million (2023: DKK 6.4 million), with recognized sales revenue of DKK 0.2 million and grant income of DKK 3.5 million.

• Cash flow from operating and investing activities was DKK -13.4 million, improved from DKK -17.2 million in 2023.

• End-year cash position was DKK 0.1 million, with DKK 10.4 million raised from financing activities.

Outlook and guidance

• Focused on scaling UK commercial operations, aiming for Ayla implementation in 300 UK care home sites and at least one NHS pilot by end-2025.

• Forecasts 2025 cash flow from sales at DKK 3.5-3.7 million, with recognized revenue of DKK 0.9-1.0 million.

• Net loss for 2025 expected at DKK 8.0-9.0 million, with operational break-even targeted by mid-2026.

• Additional funding required in 2025, with reliance on warrant exercises and potential debt financing.