TruScreen Group (TRU) H2 2024 earnings summary

Executive summary

• Achieved significant milestones in FY2024, including national recognition and regulatory approvals in China, Vietnam, and Mexico, and insurance reimbursement in Saudi Arabia.

• Revenue grew 18.3% year-over-year to NZ$2.6 million, with sales up 26.8% and SUS consumable sales up 25%.

• Net loss reduced by 14.6% to NZ$2.05 million compared to the previous year.

• Raised NZ$2.65 million in growth capital to fund market expansion and appointed a new CEO.

• Focus remains on achieving positive cashflow in the latter part of FY2025.

Financial highlights

• Revenue: NZ$2,604,884 (up 18.3% year-over-year).

• Sales: NZ$2,107,839 (up 26.8% year-over-year).

• Net loss: NZ$2,050,533 (improved 14.6% year-over-year).

• Cash outflow from operating activities: NZ$2,033,174 (improved 7.3% year-over-year).

• Cash and cash equivalents: NZ$2,728,036 (up 26.3% year-over-year).

Outlook and guidance

• Anticipates continued growth in China, with expansion into new provinces and public health clinics.

• Vietnam expected to become the next major market, with installations commencing mid-2024 and peak in 2025.

• Ongoing market development in Indonesia, Africa, Central Asia, and Eastern Europe.

• Focus on achieving positive cashflow by late FY2025 and exploring value-adding business opportunities.