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CS MEDICA ("CS MEDICA" or the "Company") hereby releases its Q report for the period October - December 2023. Highlights of the period will be presented at a live-streamed conference call on Friday the 5st of April at 11 AM CET. The Q report is available as an attached document to this press release and on the Company's website (www.cs-medica.com). Below is a summary of the report.
- In this fourth quarter of 2023 (October- December 2023), CS MEDICA delivered net sales of tDKK 1.685 (70) meeting the revised goal of Net Sales of mDKK 1,5. More than 70% coming from the European territory, approx. half from recurring customers and 97,2% from the pain category.
- In the fourth quarter of 2023, we additionally obtained an order intake of mDKK 0.6, which accumulates to a total order pipeline of mDKK12,2 at the closing of the quarter.
- Operating loss for the quarter amounted to tDKK 3.798, showing improvement from tDKK 4.371 last year. This enhancement stems not only from increased net sales but also from a significant reduction in administration costs by 40% to tDKK 685 together with reduced sales and distribution expenses.
- Credit bank/Cash and Cash equivalents at the end of the fourth quarter of 2023 closed at tDKK -2.178 (68). To bolster CS MEDICA's liquidity, the focus remains on short-term sales and the factoring agreement with Svea. Simultaneously, we are exploring the possibility of expediting a bank transfer in collaboration with our Investor, RongShi, while also investigating alternative funding solutions to ensure financial stability.
- Long-term funding is secured through the company's Investment Agreement with RongShi, involving a cash capital increase (direct issue) of mDKK 60 in two tranches. Additionally, we are actively exploring additional funding options.
- At the end of the period, CS MEDICA's equity/asset ratio was 22% (86%).
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Live streamed conference following the Q Report
On Friday 5 April 2024 at 11:00 CEST, CS MEDICA will host a Q4 2023 web conference. The web conference will start with a presentation from the management team commenting on the Q4 2023 report, followed by a Q&A session where the management team will answer questions from investors. The Q&A is already open, meaning that you can already now submit your questions and vote for the best questions submitted by other investors. CS MEDICA has made this solution, operated by Stokk.io, available to make sure all interested can participate with their questions even though they may not be able to attend the event live. You will afterward be able to find all answers in the uploaded recording and transcript. The web conference will be held in English.
Please register, submit questions now or during the live presentation and vote for the best questions at the following link >> (https://app.stokk.io/app/cs-medica/event/139/q4-2023-presentation-and-qa/)
Date and time
Friday 5[th] of April, 2024, from 11:00 - 11:30 PM CET
Sign up for conference
Live conference sign-up link >> (https://app.stokk.io/app/cs-medica/event/139/q4-2023-presentation-and-qa/)