Key Highlights:
9% Decrease in Operational Expenses Leading to Lower Breakeven Point
Q3 2024 Sales Growth of 24% Due to New System Sales in U.S. and Europe
Launch of Food Intolerance Platform CellTolerance®
Sales Pipeline Strengthened by Positive Clinical Results for Pancreatic Cysts and Lung Cancer
Projected Annual Sales Growth of 20%
PARIS & BOSTON–(BUSINESS WIRE)–Regulatory News:
Mauna Kea Technologies (Euronext: ALMKT) announced financial results for the first half of 2024 and Q3 sales, approved by the Board on October 11, 2024. The full report is available on the Company’s website.
Sacha Loiseau, Ph.D., CEO of Mauna Kea Technologies, stated: “We’re on track to achieve profitable growth with increased system sales and a 29% increase in consumables delivered year-on-year. Positive clinical study results bolster our commercial efforts, and strategic partnerships are evolving. We aim to solidify our foundation through cost reductions while launching CellTolerance® this year.”
Financial Highlights (H1 2024):
| (in €k) IFRS | H1 2024 | H1 2023 | H1 2022 |
| Total Revenue | 4,269 | 7,142 | 3,708 |
| Operating Income | (3,671) | 6,648 | (5,042) |
| Net Profit | (4,686) | 2,799 | (6,212) |
Unaudited figures
The first half of 2024 showed a loss due to a strong performance in H1 2023 related to a joint venture with Tasly. Current operating loss was €3.7m compared to a profit of €6.6m in the previous year. However, it’s a 25% improvement from 2022, highlighting our cost-control efforts.
Q3 & Nine Months 2024 Sales by Category:
| (in €k) IFRS | Q3 2024 | Q3 2023 | % Change |
| Systems | 333 | 3 | — |
| Consumables | 676 | 795 | -15% |
| Total Sales excl. License | 1,248 | 1,010 | +24% |
During Q3 2024, system sales in the U.S. boosted total sales, even as service revenues grew by 13% due to new contracts. However, consumable sales dipped due to reimbursement issues.
Future Outlook:
Mauna Kea aims for over 20% sales growth in 2024, excluding license fees. A new account in the U.S. and multiple projects in their pipeline are expected to drive growth in Q4 2024.
Company Overview:
Mauna Kea Technologies is a medical device company specializing in the Cellvizio® platform for real-time cellular imaging. This technology aids doctors in diagnosing and treating various medical conditions more effectively. More information can be found at [maunakeatech.com](http://www.maunakeatech.com).
Disclaimer: This press release contains forward-looking statements about Mauna Kea Technologies. Actual results may differ due to various risks and uncertainties. For further information, please visit [Mauna Kea Technologies](http://www.maunakeatech.fr).
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