Acarix Publishes Year-End Report 2024
Acarix reported strong financial results for 2024, marked by significant growth in its U.S. operations. The company achieved a 333% increase in system placements and an 88% surge in patch sale revenue in Q4 2024 compared to Q4 2023. Total revenue for Q4 reached SEK 1,700 thousand, up 45% year-over-year.
The company delivered 62 CADScor systems throughout 2024, a 51% increase from 2023, with 60 systems deployed in the U.S. market. Patch sales grew 27% annually, reaching 11,734 units. The gross margin improved to 90%, up 5 percentage points from 2023. Operating costs decreased by 27% in Q4, and the company reduced its adjusted loss by 32% compared to the previous year.
A favorable CMS ruling allowing standalone fixed reimbursement for the CADScor System in outpatient settings positions Acarix for significant U.S. growth in 2025. The company also secured strategic partnerships, including with Geo-Med, , to expand the CADScor System's reach to U.S. Veterans.
Acarix ha riportato risultati finanziari solidi per il 2024, caratterizzati da una crescita significativa delle sue operazioni negli Stati Uniti. L'azienda ha registrato un aumento del 333% nelle installazioni di sistemi e un aumento dell'88% nelle entrate dalle vendite di patch nel quarto trimestre del 2024 rispetto al quarto trimestre del 2023. Il fatturato totale per il quarto trimestre ha raggiunto 1.700.000 SEK, con un aumento del 45% rispetto all'anno precedente.
L'azienda ha consegnato 62 sistemi CADScor durante il 2024, con un incremento del 51% rispetto al 2023, di cui 60 sistemi sono stati distribuiti nel mercato statunitense. Le vendite di patch sono cresciute del 27% su base annua, raggiungendo 11.734 unità. Il margine lordo è migliorato al 90%, con un incremento di 5 punti percentuali rispetto al 2023. I costi operativi sono diminuiti del 27% nel quarto trimestre e l'azienda ha ridotto la sua perdita rettificata del 32% rispetto all'anno precedente.
Una sentenza favorevole del CMS che consente un rimborso fisso indipendente per il sistema CADScor in contesti ambulatoriali posiziona Acarix per una crescita significativa negli Stati Uniti nel 2025. L'azienda ha anche ottenuto partnership strategiche, tra cui quella con Geo-Med, per espandere la portata del sistema CADScor ai veterani statunitensi.
Acarix reportó resultados financieros sólidos para 2024, marcados por un crecimiento significativo en sus operaciones en EE. UU. La compañía logró un aumento del 333% en la colocación de sistemas y un en el cuarto trimestre de 2024 en comparación con el cuarto trimestre de 2023. Los ingresos totales para el cuarto trimestre alcanzaron 1,700 mil SEK, un aumento del 45% interanual.
La empresa entregó 62 sistemas CADScor a lo largo de 2024, un aumento del 51% respecto a 2023, con 60 sistemas desplegados en el mercado de EE. UU. Las ventas de parches crecieron un 27% anualmente, alcanzando 11,734 unidades. El margen bruto mejoró al 90%, un aumento de 5 puntos porcentuales desde 2023. Los costos operativos disminuyeron un 27% en el cuarto trimestre y la compañía redujo su pérdida ajustada en un 32% en comparación con el año anterior.
Una decisión favorable del CMS que permite un reembolso fijo independiente para el sistema CADScor en entornos ambulatorios posiciona a Acarix para un crecimiento significativo en EE. UU. en 2025. La compañía también aseguró asociaciones estratégicas, incluida una con Geo-Med, para expandir el alcance del sistema CADScor a los veteranos de EE. UU.
Acarix는 2024년 강력한 재무 결과를 보고했으며, 이는 미국 운영에서의 유의미한 성장이 특징입니다. 회사는 시스템 배치에서 333% 증가와 패치 판매 수익에서 88% 급증을 달성했습니다. 2024년 4분기는 2023년 4분기 대비. 4분기 총 수익은 1,700,000 SEK에 도달했으며, 이는 전년 대비 45% 증가한 수치입니다.
회사는 2024년 동안 62개의 CADScor 시스템을 배송했으며, 이는 2023년 대비 51% 증가한 수치로, 그 중 60개 시스템이 미국 시장에 배포되었습니다. 패치 판매는 연간 27% 증가하여 11,734개에 도달했습니다. 총 이익률은 90%로 개선되었으며, 2023년 대비 5%포인트 증가했습니다. 운영 비용은 4분기 동안 27% 감소했으며, 회사는 전년 대비 조정된 손실을 32% 줄였습니다.
CMS의 유리한 판결로 CADScor 시스템에 대한 독립적인 고정 환급이 외래 진료 환경에서 허용됨에 따라 Acarix는 2025년 미국에서의 유의미한 성장을 위한 위치를 확보했습니다. 회사는 또한 CADScor 시스템의 범위를 미국 재향군인에게 확장하기 위해 Geo-Med와 같은 전략적 파트너십을 확보했습니다.
Acarix a rapporté de solides résultats financiers pour 2024, marqués par une croissance significative de ses opérations aux États-Unis. L'entreprise a réalisé une augmentation de 333% des placements de systèmes et une hausse de 88% des revenus des ventes de patchs au quatrième trimestre 2024 par rapport au quatrième trimestre 2023. Le chiffre d'affaires total pour le quatrième trimestre a atteint 1 700 000 SEK, en hausse de 45% d'une année sur l'autre.
L'entreprise a livré 62 systèmes CADScor tout au long de 2024, soit une augmentation de 51% par rapport à 2023, dont 60 systèmes déployés sur le marché américain. Les ventes de patchs ont augmenté de 27% par an, atteignant 11 734 unités. La marge brute s'est améliorée à 90%, en hausse de 5 points de pourcentage par rapport à 2023. Les coûts d'exploitation ont diminué de 27% au quatrième trimestre, et l'entreprise a réduit sa perte ajustée de 32% par rapport à l'année précédente.
Une décision favorable du CMS permettant un remboursement fixe indépendant pour le système CADScor dans les milieux ambulatoires positionne Acarix pour une croissance significative aux États-Unis en 2025. L'entreprise a également sécurisé des partenariats stratégiques, notamment avec Geo-Med, pour étendre la portée du système CADScor aux vétérans américains.
Acarix hat starke finanzielle Ergebnisse für 2024 gemeldet, die durch ein signifikantes Wachstum in den USA geprägt sind. Das Unternehmen erzielte einen Anstieg der Systemplatzierungen um 333% und einen 88% Anstieg der Einnahmen aus dem Verkauf von Patches im 4. Quartal 2024 im Vergleich zum 4. Quartal 2023. Der Gesamtumsatz für das 4. Quartal erreichte 1.700.000 SEK, was einem Anstieg von 45% im Jahresvergleich entspricht.
Das Unternehmen lieferte 62 CADScor-Systeme im Jahr 2024, ein Anstieg um 51% im Vergleich zu 2023, wobei 60 Systeme auf dem US-Markt eingesetzt wurden. Die Patch-Verkäufe wuchsen jährlich um 27% und erreichten 11.734 Einheiten. Die Bruttomarge verbesserte sich auf 90%, was einem Anstieg von 5 Prozentpunkten gegenüber 2023 entspricht. Die Betriebskosten sanken im 4. Quartal um 27%, und das Unternehmen reduzierte seinen bereinigten Verlust um 32% im Vergleich zum Vorjahr.
Eine günstige CMS-Entscheidung, die eine eigenständige feste Erstattung für das CADScor-System in ambulatorischen Einrichtungen ermöglicht, positioniert Acarix für ein signifikantes Wachstum in den USA im Jahr 2025. Das Unternehmen sicherte sich auch strategische Partnerschaften, unter anderem mit Geo-Med, um die Reichweite des CADScor-Systems auf US-Veteranen auszudehnen.
- 333% growth in Q4 system placements year-over-year
- 88% increase in Q4 patch sale revenue
- 27% reduction in Q4 operating costs
- 90% gross margin, up 5 percentage points from 2023
- 51% increase in total CADScor system deliveries for 2024
- Secured CMS fixed reimbursement approval for outpatient settings
- 98% increase in U.S. patch sales
- Full-year revenue remained flat at SEK 6,202 thousand (vs 6,242 in 2023)
- Net loss of SEK -66,187 thousand for 2024
- Cash and cash equivalents decreased to SEK 58,615 from previous year
Sales and revenue for the CADScor System and patches are surging amid ongoing U.S. expansion efforts
"The fourth quarter and 2024 as a whole was a transformative year, and I am proud to announce Acarix's remarkable achievements marked by significant growth, innovation and leadership in AI-integrated, non-invasive cardiovascular diagnostics," said Aamir Mahmood, Acarix President and CEO. "Our U.S. market presence expanded substantially, driven by a
When speaking on the future of Acarix, Mahmood went on to say, "As we look to 2025, Acarix is strategically positioned for continued success, with plans for geographic expansion and increased focus on clinical studies. I extend my gratitude to our dedicated team and stakeholders; your support is invaluable and our trajectory for 2025 looks exceedingly promising. Supported by a robust balance sheet and guided by a clear strategic plan, we are equipped to scale our operations, explore new markets, and continue our growth momentum."
Key Highlights
- Sales of CADScor Systems and patches accelerated in Q4 compared to this time last year with a total of 13 systems installed to customers, 9 on consignment and 4 systems sold (a
333% growth),103% growth in patches sold, and an88% increase in revenue from patch sales. - Favorable CMS ruling allowing standalone fixed reimbursement for the CADScor System in outpatient settings positioning the company for significant
U.S. growth in 2025. - The company announced notable growth and partnerships with current and new customers, including an order of 4 additional CADScor Systems for expanded diagnostic tool availability, the sale of 9 systems and 500 patches to a healthcare provider across 7 U.S. states, and a new agreement to support a clinical study with the largest
Oklahoma -owned health system.
Fourth quarter 2024 compared to the same period in 2023
- Total revenue for the fourth quarter was
SEK 1,700 thousand , an increase of45% compared to the same period as last year. U.S. revenue for patches wasSEK 873 thousand , an increase of88% compared to the same period as last year.- Gross profit was
SEK 1,497 thousand (1,028), with a gross margin of88% (87% ),1% improvement from the same period in 2023. - In the
U.S. , a total of 13 CADScor Systems were installed at customers, 9 on consignment and 4 systems sold. This represents a growth of333% over the same period as last year. Furthermore, 1,460 patches were sold, representing103% growth compared to the same quarter last year. - Operating costs were
SEK 17,812 thousand (23,027), includingSEK 1,095 thousand in non-recurring costs. Operating costs, adjusted for non-recurring costs, decreased by27% from last year. - Loss was
SEK -16,020 thousand (-22,064). Adjusted from non-recurring costs, the loss wasSEK -14,925 thousand , a32% improvement from last year. - Net cash flow for the period was
SEK 9,096 thousand (27,304), withSEK 25,960 (50,169) thousand received from directed issue and warrant program. - Earnings per share were
SEK -0.01 (-0.03).
Full year 2024 compared to the same period in 2023
- Revenue for the year amounted to
SEK 6,202 thousand (6,242). The new consignment- based business model launched in the U.S. market in 2024 does not include revenue recognition for CADScor units placed on consignment, resulting in year-over-year revenue not being fully comparable to the previous year. - A total of 11,734 patches were sold during the year, resulting in a
27% increase compared to the previous year. In theU.S. , 5,140 patches were sold, representing a98% increase compared to the previous year. DACH region sold 6,594 patches, in line with the previous year. - Gross profit reached
SEK 5,595 thousand (up from 5,298 thousand), resulting in a gross margin of90% (up from85% ), reflecting an improvement of 5 percentage points compared to the same period in 2023. - A total of 62 CADScor systems were delivered during the year, an increase of
51% from 41 systems delivered the previous year. In theU.S. , 60 systems were delivered, with 52 on consignment and 8 sold, marking an increase of82% in that market. - Operating costs were
SEK 71.968 thousand (82,850), includingSEK 5,671 thousand in non-recurring costs. Adjusted operating costs decreased by20% from last year. - Loss before tax was
SEK -66,187 thousand (-77,839). Adjusted from non-recurring costs, the loss wasSEK -60,516 thousand , a22% improvement from last year. - Net cash flow for the year was
SEK 22,735 thousand (24,865), with netSEK 86,980 (106,443) thousand received from new share issues. - Cash and cash equivalents amounted to
SEK 58,615 (35,149). General pledging of bank deposits amounted toSEK 4,620 thousand . - Earnings per share amounted to
SEK -0.07 (-0.16). No dilutive effects occurred. - Number of shares on the balance sheet date amounts to 1,123,320,142 (737,188,816).
The 2024 annual report will be available on the company's website on April 15, 2025. The 2025 Annual General Meeting will take place on May 13, 2025.
Webcast presentation of the Q4 interim report is available on: https://www.acarix.com/events/
Link to the Acarix financial reports: https://www.acarix.com/for-investors/financial-reports-and-calendar
For more information, contact:
Ashley Wilson
+1 405 413 5201
awilson@saxum.com
About Acarix
Acarix is a Swedish medical device company that innovates solutions for rapid rule out of coronary artery disease (CAD) at point of care. The CE-approved and FDA DeNovo-cleared Acarix CADScor System is intended for patients experiencing chest pain with suspected CAD and designed to help reduce millions of unnecessary, invasive, and costly diagnostic procedures. The CADScor System has been used on more than 29,000 patients. Acarix recommends CADScor System as a first-line diagnostic aid that uses highly sensitive acoustics and advanced computational processing to analyze coronary blood flow to rule out significant coronary artery disease (CAD), with at least
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SOURCE Acarix
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