ProstaLund (PLUN) Q4 2024 earnings summary

Executive summary

• Net sales for 2024 declined 38% year-over-year to SEK 13.7 million, with Q4 sales down 38.5% to SEK 3.9 million compared to Q4 2023.

• Operating loss widened to SEK -22.5 million for the year and SEK -6.2 million in Q4, reflecting lower sales and higher overhead.

• Gross margin for 2024 was 64.6% (70.1% in 2023); Q4 margin dropped to 54.9% due to an inventory write-down, but adjusted margin was 67.2%.

• Cash and cash equivalents at year-end were SEK 7.8 million, down from SEK 15.0 million a year earlier.

• New management team and increased marketing efforts led to improved demand in Q4, with ongoing international expansion for CoreTherm® Eagle.

Financial highlights

• Q4 net sales: SEK 3.9 million (Q4 2023: SEK 6.4 million); full-year net sales: SEK 13.7 million (2023: SEK 22.1 million).

• Q4 operating result: SEK -6.2 million (Q4 2023: SEK -3.5 million); full-year operating result: SEK -22.5 million (2023: SEK -16.9 million).

• Q4 EPS: SEK -2.43 (Q4 2023: SEK -1.82); full-year EPS: SEK -6.94 (2023: SEK -9.94).

• Cash flow from operating activities: SEK -22.6 million for 2024 (2023: SEK -23.7 million).

• Equity at year-end: SEK 55.2 million; equity ratio: 89%.

Outlook and guidance

• Ongoing contract discussions and international launch planned for CoreTherm® Eagle, with positive interest from new markets.

• Focus on increasing sales volumes with existing customers and entering new markets.

• CoreTherm® Eagle launch expected before end of Q2 2025; participation in major urology congresses planned.