Optomed Oyj : Results Presentation, January - June 2021
August 05, 2021 at 03:16 am EDT
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5 August 2021, Seppo Kopsala, CEO / Lars Lindqvist, CFO
Result presentation Q2/2021
Highlights
Highlights Q2-2021
Very strong growth: Revenue increased 55%. Software growth was 21% and
Devices 124% against a weak Covid-19 affected comparison period
Sinopharm-Phoebus: cooperation started in Q1 and continues, and it is currently driving our growth in China
Favourable megatrends continue: supports our decision to continue the
investments in expanding the sales channels, focusing on clinical research, and developing and launching new products
Focus areas
China:
The Sinopharm-Phoebus deliveries continued to increase
Training of the regional sales organizations have started
Currently it is hard to forecast revenue for H2-2021 in China and the long-term potential can only be assessed after 12-18 months
USA:
Direct sales performing well and as planned
Distribution network expansion continues
The clinical trials with the aim to the FDA approval for Aurora AEYE, a handheld camera with autonomous AI for retinal screening, are progressing as planned
COVID-19 Coronavirus
Delta variant spreading; vaccinations progressing
What does it mean to Optomed:
The Software segment is performing well due to the recurring revenue model
The travel restrictions continue to slow down the global screening solution sales
Device segment's traditional marketing and sales affected by travel restrictions
Possible lockdowns may affect negatively on especially on Devices segment's sales
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Optomed plc published this content on 05 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2021 07:15:03 UTC.
Optomed Oyj is a Finland-based medical technology company and a producer of handheld fundus cameras globally. The Group's Parent Company, Optomed Oyj, is responsible for, among other things, the management of the Group as well as finance and accounting functions, human resources, legal affairs and corporate communication. The Group's business is managed through two reportable segments: Devices and Software. The Devices segment develops, commercializes and manufactures easy-to-use and affordable handheld fundus cameras. The Software segment develops and sells screening software for diabetic retinopathy and cancer screening for healthcare organizations. The Optomed Group consists of the parent company Optomed Oyj and four subsidiaries in Finland, China, the USA and Hong Kong.