DIH Holding US (DHAI) Registration Filing summary

Company overview and business model

• Global provider of advanced robotic and VR-enabled devices for physical rehabilitation, serving hospitals, clinics, and research centers.

• Revenue is concentrated in EMEA and Americas, with additional sales in APAC.

• Offers 14 robotic rehabilitation and VR-based movement systems across upper extremity, lower extremity, and full-body categories.

• Business model includes device sales, services, and integration of clinical data and workflow solutions.

• Focused on expanding market leadership through innovation, acquisitions, and consolidation in a fragmented industry.

Financial performance and metrics

• Fiscal 2024 revenue was $64.5 million, up 19.3% from $54.1 million in fiscal 2023.

• Net loss for fiscal 2024 was $8.4 million, compared to $1.0 million in fiscal 2023, primarily due to transaction costs and increased operating expenses.

• For the six months ended September 30, 2024, revenue increased 34.5% year-over-year to $35.1 million, with a net loss of $0.5 million.

• As of September 30, 2024, cash and cash equivalents were $1.8 million, with negative working capital and an accumulated deficit of $35.8 million.

• Management has raised substantial doubt about the ability to continue as a going concern within one year.

Use of proceeds and capital allocation

• Estimated net proceeds from the offering are $8.9 million if the maximum number of units are sold, with actual proceeds potentially lower due to the best efforts structure.

• Proceeds will be used for working capital, capital expenditures to grow the business, and general corporate purposes.

• Management has broad discretion over the use of proceeds.