Financial information January – March 2022
• Net sales SEK 2,361 KSEK (1,437), corresponding to a growth of 64%
• Gross margin before depreciation 61.2% (40.2)
• Profit after financial items SEK -20,980 KSEK (-17,642)
• Earnings per share SEK -0.33 (-0.27)
• Cash and cash equivalents as of 31 March 2022: SEK 56.4 MSEK (142.5)
Highlights first quarter
• Strong sales growth – the largest increase from the USA
• TetraSens® Pediatric launched
• Improved gross margin
Growth in the first quarter was clear. The total increase in sales was 64 percent, with the United States accounting for the largest increase, 109 percent compared with the same period last year, and Europe increasing by 36 percent. Sensor sales increased by 44 percent during the quarter compared with the same period in 2021.
The global installed base of TetraGraph® monitors continues to grow and we have now delivered approximately 1,200 systems to customers and distributors. We expect that the increasingly installed base will result in a sharp increase in sales of disposable sensors in the future.
We began the year by reporting ongoing or contracted trials at 74 hospitals worldwide with a total potential of 1,150 TetraGraph® systems. By the end of the first quarter, we had won 27 of these hospitals, started 29 new trials and not lost a single deal to any competitor.
During the first quarter of the year, we won a number of important strategic deals in the United States. A winning procurement included 50 TetraGraph® systems with associated sensors for all of the hospital's operating rooms. The next winning procurement included 23 TetraGraph® systems for a large university hospital in the southeastern United States that simultaneously standardized its clinical guidelines so that all patients receiving neuromuscular blocking agents were monitored with our system. Another important deal was a procurement from an American hospital chain consisting of three hospitals where all operating theaters are equipped with TetraGraph® and which annually performs almost 11,000 surgeries with neuromuscular blocking agents.
Even more clinical guidelines support our technology. In February, major US Anesthesia Patient Safety Foundation (APSF) announced that they are reviewing their recommendations for patient monitoring and recommending quantitative monitoring when giving neuromuscular blocking agents to patients – i e the type of technical solution in which Senzime is a world leader.
This press release contains only parts of the complete interim report published on Senzime's website