Ja da puster jeg lettet ut.
Veldig bra at han tok med potensialet i China bÄde for Hexvix og Cevira,
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Det mÄ siges at vÊre overraskende godt - Ebitda minus 1.2 mill. NOK, meget oplÞftende
Photocure delivered strong results in the first quarter of 2023, with revenue in both our North America and European territories rebounding significantly from the unusually soft fourth quarter last year. Hexvix/Cysview sales increased 30% year over year driven by higher unit sales, price increases and foreign exchange. Sequentially, product sales were up 12% from Q4 2022. Typically, the first quarter is seasonally lower than the preceding fourth quarter, however the recent pattern is indicative of unusual circumstances, â says Dan Schneider, President & Chief Executive Officer of Photocure.
SĂ„ mon ikke vi for en sjĂŠlden gangs skyld skal op, efter en Q rapport
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Det ligna grisen
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Se pÄ potensialet i US.
Q4 2020 hadde ca. samme revenue som Q1 2023. Men dem har nÄ 120 flere skop, + 44%.
Men en sur bĂžrsdag kan fort dette bare bli en âsell the newsâ pĂ„ kort sikt.
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Denne gangen, og med dagens utgangspunkt blir det «buy the news»
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Det er nÄ utplassert 388 BLC rigide scope i USA. Hvor mange potensielle klinikker er det igjen som ikke har BLC? Er det noen som har peiling? Er det noen hundre eller er det mange tusen potensielle klinikker igjen?
Gir ikke mening nÄr aksjen har vÊrt sÄ svak i forkant.
Dei har vel ein ganske lÄg marketspenetrasjon, sÄ vil anta mange tusen.
Lurer pÄ om vi fÄr en reduksjon av shorten nÄ. MÄ vel vÊre noe forhÞyet risiko Ä sitte med den fremover.
Gjennom bruddet til Ä bli SOC i US ligger her, hvor mange rigid og flexible scope det er installert i US mÄ da vÊre mange tusen. Til nÄ er det bare salg gjennom KS sine scope.
Proactively support the Citizenâs Petition for the U.S. FDA to reclassify BLC equipment from Class 3 to Class 2,
creating an expedited pathway for additional BLC manufacturers to enter the U.S. market
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Det var liksom skrevet i tegnene at det skulle komme en opplÞftende rapport og det synes jeg sÄ definitivt de leverer!
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Norne:
Solid rebound in 1Q supports our positive stance
Photocure delivered a solid rebound in 1Q, as guided and even better
than we estimated. We were happy about the development and see the
report as supportive of our recent upgrade of the share to Buy.
Better than expected 1Q figures.
Photocure released its 1Q23 report this morning. The key for us in the
report was to see the guided and expected rebound from the terrible end
of 2022. The figures were even better than expected with revenues of NOK
106m vs NOK 103m estimated and EBITDA came in close to break-even at
NOK -1.2m vs NOK -8.7m in our estimates. EPS was also negative at NOK -
0.43, but still better than NOK -0.57 loss in our model.
Good volume growth and new BLC installations according to plan
In-market volume sales were better than anticipated both in North America
(+16% YoY vs +14% est.) and Europe (+6% YoY vs -2% est.). 18 new Saphira
Blue Light Cystoscopes (BLCs) were installed in the US (vs 20 in our model).
Moreover, 12 units of older equipment were replaced. The guidance for 65-
75 new Saphira BLC towers to be installed this year was reiterated.
Financial guidance maintained; improvement seen on key challenges
Photocure reiterated its financial guidance of 20% product revenue growth
and positive EBITDA (ex. business development expenses). We believe the
guidance will be reached and more likely exceeded and estimated
revenues to grow by 31% this year and EBITDA to land at NOK +17m incl.
business development expenses before the report. Staffing shortages and
hospital budget cuts are still hurdles, but it is important that situation is
improving.
Rebound post weak 2022 has started and we stay positive
All in all, a solid rebound in the companyâs revenues and improved
profitability was delivered in 1Q. The rebound was expected and guided,
but results were even better than we estimated. Therefore, we see the
report as supportive to our Buy recommendation.
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Min kommentar (som aksjonĂŠr) etter Ă„ ha plottet inn tall i excel:
- Et kvartal pÄ det jevne
- Bulken i omsetning i q4 er rettet ut
- Veksttakten i USA har vÊrt fallende over flere Är. Det er smÄ tegn til at den holder pÄ Ä stabilisere seg
- Utplassering av scope er, sett over tid, veldig bra. ( 64 siste 12 mnd som nÊrmer seg gammelt toppnivÄ (74))
Lite hallelujah fra min del, men nÄ mente ogsÄ jeg at q4 ifjor ikke var enormt dÄrlig. Dette kvartalet er som vi mÄ kunne forvente
Liker dette signalet fra DS:
" In the U.S., we achieved a record first quarter with each month of Q1 2023 marking a new historic high."
Skal bli interessant Ă„ se hvordan det blir i q2 og q3.
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Det er iallfall en veldig interessant triggerliste fremover:
" Other events and activities to watch include the potential for re-classification of BLC equipment in the U.S., the pursuit of a solution to develop and commercialize new flexible BLC cystoscopes, and anticipated Phase 3 results from our partner Asieris for both Hexvix in China and Cevira later this year."
Det meste er velkjent (og med potensielt veldig stor effekt), men det er litt spesielt at dette blir fremhevet âthe pursuit of a solution to develop and commercialize new flexible BLC cystoscopesâ
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Har du noen formening om hvor mange rigid og flexible scope det er totalt installert i US fra alle leverandĂžrer av scope`?
Her er forklaringen pÄ redusert salg i norden som noen etterspurte tidligere i trÄden:
Performance of the European business has been
pressured by a decline in sales of Hexvix in the Nordic
region, particularly in Denmark. This is related to the
dominant capital equipment provider in Denmark and
Norway, Olympus, which has not yet upgraded its
blue light cystoscopy equipment to high-definition.
Olympus is in the process of obtaining regulatory
approvals for its high-definition blue light system,
which Photocure expects will increase the use of
Hexvix in these markets. Olympus is expected to
launch its upgraded blue light system toward the end
of 2023 or early 2024.
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Potential for Karl Storz to receive FDA feedback on Citizenâs Petition with 210-day response period (May 25)
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Ikke akkurat noen rekyl etter det dramatiske fallet. Selgerne byr seg villig fram.
Men det er jo hyggelig at PHO igjen er pÄ rett vei, sÄ pÄ sikt vil nok ogsÄ kursen komme etter.
