PhotoCure ASA (OTCPK:PHCUF)

$ 5.95 0 (0%) Market Cap: 158.06 Mil Enterprise Value: 133.57 Mil PE Ratio: 341.67 PB Ratio: 3.45 GF Score: 85/100

Q4 2023 Photocure ASA Earnings Call Transcript

Feb 21, 2024 / 01:00PM GMT

Release Date Price: $6.5

Transcript

Dan Schneider

Photocure ASA - President & CEO

Good afternoon and good morning, depending on where you are on the globe. This is Dan Schneider, President, and CEO of Photocure. Today we're presenting the Photocure fourth quarter 2023 results. With me today is Erik Dahl, CFO, and David Moskowitz, Vice President of Investor Relations.

Next slide, please. Just a reminder, the normal usual disclaimers are in place for today's presentation. Next slide, please. So fourth quarter highlights for 2023, we continue to see growth and execution on key initiatives despite flexible blue light cystoscopy being discontinued worldwide by Karl Storzâs.

Product revenue grew at 20%, unit sales 4% year-over-year. From a new tower installation standpoint, there were 10 new ones opened in the fourth quarter, seven upgrades. We had 51 Saphira towers placed in 2023. This is the largest installation of rigid towers in any year since the launch of Blue Light Cystoscopy into the US.

We're executing on our plan in Europe. There were over 146 image quality upgrades. What this means is that the

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