Oneview Healthcare (ONE) H2 2024 earnings summary

Executive summary

• Revenue for 2024 reached €9.9 million, up 5% year-over-year, with recurring revenue of €7.2 million, up 9%.

• Gross margin improved to 67% from 66% in 2023, with gross profit at €6.7 million.

• Net loss widened to €10.8 million, with adjusted EBITDA loss of €8.8 million, impacted by delayed deployments and increased investment.

• Eight major new US customer logos were added, and contracted/live beds increased 23% year-over-year to 19,429 and 12,514, respectively.

• The Baxter partnership was extended and expanded, driving significant pipeline growth and new product integrations.

Financial highlights

• Total revenue rose 5% to €9.9 million, with recurring revenue up 9% to €7.2 million.

• Gross profit increased 8% to €6.7 million, with gross margin at 67%.

• Adjusted EBITDA loss was €8.8 million, a 60% increase from €5.5 million loss in 2023.

• Cash at year-end was €13.8 million, up from €11.5 million, following a €13.3 million capital raise.

• Net assets rose 46% to €13.3 million.

Outlook and guidance

• Deferred revenues from delayed US and Irish projects are expected to be recognized in 2025 as deployments resume.

• Gross margins are expected to remain in the mid-to-high 60% range, with potential for improvement as mobile products grow.

• The US market remains the primary focus, with a goal to capture 15-20% market share in partnership with Baxter.

• Record sales pipeline exists, with over 130 Baxter-led and 30 direct sales opportunities.

• Management expects existing cash and working capital to fund operations and capital expenditure for at least 12 months.