Theradiag Reports Revenue of €6.7 Million for the First Half of 2023, up 6.8%
17 Juillet 2023 - 7:30AM
Business Wire
- Strong growth of 18.0% in Theranostics in H1 2023 compared
with H1 2022, driven by a very good export performance (excluding
the United States)
- Slight acceleration in overall growth in Q2 2023 compared
with Q2 2022, driven by solid sales momentum in Theradiag two core
businesses
- Cash position at June 30, 2023 above plan: €5.7m
Regulatory News:
THERADIAG (ISIN: FR0004197747, Ticker: ALTER), a company
specializing in in vitro diagnostics of autoimmune diseases and
theranostics, today announced its half-revenue and cash position on
June 30, 2023, data that is currently being audited.
H1 2023 revenue of €6.7 million
In thousands of euros
Q2 2022
Q2 2023
Change
H1 2022
H1 2023
Change
Revenue
3,150
3,383
7.4%
6,264
6,688
6.8%
Of which Theranostics revenue
1,578
1,727
9.4%
3,024
3,569
18.0%
Of which IVD revenue
1,572
1,656
5.3%
3,240
3,119
-3.7%
Over the six months to June 30, 2023, Theradiag generated
revenue of €6.7 million, compared with €6.3 million in the first
half of 2022, representing growth of 6.8%. Growth accelerated
slightly in the second quarter of 2023 thanks to strong sales
performance in Theradiag two core businesses: +9.4% for
Theranostics and +5.3% for In Vitro Diagnostics (IVD).
Theranostics business recorded another semester of strong
growth, with sales up 18.0% to almost €3.6 million at June 30,
2023. This strong growth was driven by very good export performance
and solid growth in France, offsetting the decline in sales to the
US market. As a reminder, this downturn on the US market is the
consequence of the implementation of the Company's new strategic
plan to improve profitability.
IVD recorded a slight decline in revenue of -3.7% to
around €3.1 million at the end of June 2023. Business contracted in
France, compared with an exceptional first-half of 2022 figure
linked to non-recurring commercial opportunities. This slowdown on
the domestic market is partly offset by commercial developments in
the main European markets. Theradiag recently extended its
strategic partnership with Quotient, which will support the growth
trajectory of this activity.
Cash position
At 30 June 2023, Theradiag had a net cash position of €5.7
million, above the company's business plan, compared with €6.4
million at December 31, 2022.
Simon Davière, CEO of Theradiag, commented: "During the
first half 2023, Theradiag has maintained a solid sales momentum,
particularly for its internally developed products, thanks to its
technological lead in its two fast-growing markets. The deliberate
slowdown in the United States has been offset by market share gains
in new countries, mainly the major European markets. On the
strength of our comfortable cash position, we intend to pursue the
development and accelerate the marketing of our high-margin
in-house products over the coming months.”
Christian Policard, Chairman of the Board of Directors,
added: "In addition to its strong commercial momentum, over the
past few months Theradiag has been working to strengthen the
collaboration with its shareholder and partner Biosynex. While
synergies in purchasing are already underway, commercial synergies
will need to become operational over the next six months in order
to improve the performance of both companies. ”
Next financial press release : - 2023 first-half
results, on Monday 18, September 2023, before market open
About Theradiag
Theradiag is the market leader in biotherapy monitoring.
Capitalizing on its expertise in the diagnostics market, the
Company has been developing, manufacturing and marketing innovative
in vitro diagnostic (IVD) tests for over 30 years.
Theradiag pioneered “theranostics” testing (combining therapy
with diagnosis), which measures the efficacy of biotherapy in the
treatment of chronic inflammatory diseases. Going beyond mere
diagnosis, Theranostics aims to help clinicians set up “customized
treatment” for each patient. This method favors the
individualization of treatment, evaluation of its efficacy and the
prevention of drug resistance. In response to this challenge,
Theradiag develops and markets the CE-marked TRACKER® range, a
comprehensive solution of inestimable medical value.
The Company is based in Marne-la-Vallée, near Paris, has
operations in over 70 countries and employs over 60 people. In
2022, the Company posted revenue of €12.2 million. The Theradiag
share is listed on Euronext Growth Paris (ISIN: FR0004197747) and
is eligible for the French PEA-PME personal equity plan.
For more information about Theradiag, please visit our website:
https://www.theradiag.com/
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version on businesswire.com: https://www.businesswire.com/news/home/20230716853558/en/
Theradiag Simon Davière CEO contact@theradiag.com
NewCap Financial Communications & Investor Relations
Pierre Laurent / Quentin Massé Tel.: +33 (0)1 44 71 94 94
theradiag@newcap.eu
NewCap Media Relations Arthur Rouillé Tel.: +33
(0)1 44 71 94 94 nmerigeau@newcap.fr
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