Phase Holographic (PHI) Q4 2024 earnings summary

Executive summary

• PHI increased its presence in regenerative medicine, highlighted by a key presentation at the Alliance for Regenerative Medicine conference and publication of its vision for QPI in cell therapy manufacturing.

• Strategic partnership with Altium expanded, including onboarding a distributor manager and intensive training for new sales partners to drive future growth.

• Ivan Jurkovic joined the board, bringing financial and risk management expertise to support growth objectives.

Financial highlights

• FY 2023/24 net sales rose to 10,510 KSEK from 9,900 KSEK year-over-year; Q4 net sales were 1,686 KSEK, down from 1,869 KSEK in Q4 2022/23.

• Gross margin improved to 71% for FY 2023/24 from 51% prior year; Q4 gross margin was 60%, up from 31%.

• Net result for FY 2023/24 was -20,175 KSEK, an improvement from -23,185 KSEK year-over-year; Q4 net result was -5,349 KSEK, better than -7,717 KSEK in Q4 2022/23.

• Earnings per share for FY 2023/24 were -0.81 SEK, up from -1.16 SEK year-over-year.

Outlook and guidance

• Management expects improved sales performance in the latter half of 2024 as recent investments in training and sales infrastructure begin to yield returns.

• Focus remains on expanding in regenerative medicine and establishing QPI as a standard for cell quality control.