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Acarix AB, a leader in AI-based cardiac diagnostics, reported strong Q2 2024 financial results. Key highlights include:
- Revenue increased 27% to SEK 1,958 thousand
- Gross profit rose 38% to SEK 1,788 thousand (91% margin)
- 15 CADScor Systems installed (2 sold, 13 consigned)
- 3,530 patches sold (62% increase in US)
- Operating costs reduced by 25% (excluding one-time expenses)
- Loss before tax: SEK –16,661 thousand
For H1 2024, revenue was SEK 3,509 thousand, with 28 CADScor Systems and 6,054 patches sold. The company's cash position stood at SEK 48,271 thousand. These results reflect Acarix's growing market presence and successful implementation of its new sales model and strategic initiatives.
Acarix, a leader in AI and acoustics-based cardiac diagnostics, has begun trading on the US-based OTCQB Market under the ticker symbol ACIXF. This move allows Acarix shares to be traded in USD alongside its existing Nasdaq First North Growth market listing in Stockholm. The OTCQB Market, operated by OTC Markets Group, serves as an alternative to Nasdaq New York and NYSE listings for 12,000 US and global securities.
CEO Aamir Mahmood expressed excitement about expanding the company's reach beyond the Stockholm listing, particularly as the US is Acarix's most important commercial market. The OTCQB listing is expected to increase accessibility to US capital markets and satisfy growing interest from US investors. Companies listed on OTCQB must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with US securities laws.
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