Q3 2024 Senzime AB (publ) Earnings Call Transcript
Key Points
- Senzime AB (SNZZF) reported a 90% sales growth in Q3 2024, with significant contributions from the US market, which grew by 81%.
- The company has placed nearly 2,900 Tegra systems in hospitals worldwide, with a strong growth rate in disposable sensor sales.
- Senzime AB (SNZZF) secured major hospital contracts, including a significant win with a top 10 US healthcare system, leading to a fourfold volume increase.
- The company successfully raised 86 million Swedish Kroner through a directed share issue, strengthening its financial position.
- The launch of the next-generation Tegra system has been well-received, with orders already announced in Europe, and it is expected to improve gross margins.
- Currency effects negatively impacted topline sales, with the weakened SEK affecting expense levels.
- Monitor sales were softer in Q3, particularly in the US, due to seasonal effects and comparative challenges from previous major deals.
- The European market showed slower growth compared to the US and Asia, with legacy technologies maintaining a stronghold.
- Gross margins were somewhat soft in Q3 due to lower price levels for monitors in the US.
- The ongoing healthcare strike in South Korea presents challenges, although growth continues in the region.
Welcome to Carnegie and this Q3 report presentation with Senzime.
My name is Klas Palin and I'm an equity analyst and have coverage of Senzime and I will be responsible for the Q&A session. But before that, we will listen to a company presentation and a presentation of the development in Q3, which will be held by CEO Philip Siberg.
Philip, very welcome. And please you may start your presentation.
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Okay. And thank you for listening to this quarterly Q3 report 2024. Okay. So Senzime, quick recap, I mean, we're a medical device company. We develop solutions to radically change and improve anaesthesia practice. So it's about helping patients throughout their journey from preoperative care and making sure they get the right dose of anaesthetic drugs and are excavated so they can wake up at the right time.
Our business is in around the Tegra system which is our predominant focus area. The Tegra system is used in thousands of operating rooms around
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