SensoDetect (SDET) Q2 2024 earnings summary

Executive summary

• Net sales for Q2 2024 were 4 KSEK, unchanged year-over-year; net loss widened to -2,782 KSEK from -1,468 KSEK.

• Cash flow from operations improved to -1,843 KSEK from -2,313 KSEK; liquidity at period end was 4,347 KSEK.

• Major focus on expansion in MENA, especially Saudi Arabia, and ongoing JV discussions in China.

• ISO 13485:2016 certification renewed, supporting regulatory and commercial progress.

Financial highlights

• Q2 net sales: 4 KSEK (flat year-over-year); H1 net sales: 10 KSEK (down from 14 KSEK year-over-year).

• Q2 net loss: -2,782 KSEK (vs. -1,468 KSEK); H1 net loss: -5,094 KSEK (vs. -3,578 KSEK).

• Q2 EPS: -0.01 SEK (unchanged); H1 EPS: -0.02 SEK (improved from -0.03 SEK).

• Cash and equivalents at June 30: 4,347 KSEK (up from 1,097 KSEK year-over-year).

• Equity ratio at June 30: 81% (up from 43% year-over-year).

Outlook and guidance

• Targeting commercial launch of ASD screening by end of 2024, with global expansion focus on MENA, China, and USA.

• Expects significant increase in ASD and hearing tests in Saudi Arabia, aiming for up to 2 million annual tests in MENA by 2025-2026.

• JV in China expected to accelerate market access and generate license revenue in 2024.