Medical Aesthetics Company
Suffave
+7.16%
Base:2,136
opening:2,136
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low:2,136
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Issued less than a year ago by entrepreneur Simon Ackhouse today released its financial results for the second half of 2021 and showed revenue growth and bottom line loss reduction.
Half-year revenue was $ 11.7 million, of which $ 8.9 million was in the fourth quarter (uncontrolled) compared to $ 3.4 million the previous year. Gross profit was $ 8.8 million compared to $ 2.2 million a year earlier. The operating loss was $ 6.5 million compared to $ 3.7 million last year. And the net loss amounted to $ 4.5 million compared to a loss of $ 4.5 million in the first half of 2020.
In annual summary, revenue reached $ 21.8 million compared to $ 4.3 million in the past year. The company’s revenues in North America were $ 13.5 million, in East Asia revenues rose to $ 5.75 million compared to 0.5 million years earlier. In Europe and the Middle East, revenues reached $ 2.6 million.
Gross profit rose to $ 16.3 million from $ 2.6 million a year earlier. The gross profit margin climbed to 74.3% compared to 61.2%. The operating loss rose to $ 8.9 million from $ 6.5 million the previous year. The increase in operating loss is due to an increase in marketing efforts, investments in research and development to increase manpower. The net loss amounted to $ 6.8 million compared to $ 11.7 million a year earlier. The company has $ 46.3 million in cash and cash equivalents.
The company, which was issued in May 2021, is traded at a market value of NIS 721 million, after rising by 7.3% since its issuance. Since the beginning of the year, the company’s share has fallen by 26%.
Dr. Shimon Ackhouse Chairman and Co-Founder of the Company: “2021 was a year for Suffive a year of developing and building the company’s marketing and sales infrastructure, alongside generating significant revenue. , Skin smoothing and wrinkle treatment. We intend to realize the great business potential in our field of activity due to the rapid growth of patients for non-invasive skin rejuvenation and firming treatments. In November we received FDA approval for other important indications for the company’s products. In August we received marketing approval for the company’s product in South Korea, which is one of the fastest growing countries in the world in the medical aesthetics market. These approvals create additional and significant growth engines for years to come. The company continues to develop innovative treatment technologies for demanding treatments. “At the same time, the company is working to deepen its geographical spread as part of the company’s future growth.”
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