MONSENSO A/S Company announcement no. 12-2023
Performance highlights
Total revenue increased by 70% to 4,409k (H1 2022:
DKK 2,601k ).EBITDA was DKK –1,142k (H1 2022:
DKK -2,832k ).Cash flow from operations
DKK 1,139k (H1 2022:DKK -4,074k )12 employees (FTE) at the end of
June 2023 . (June 2022 : 14 FTE)
Business review
The first half of 2023 resulted in revenue growth of 70% compared to H1 2022. We entered into three new research projects at the end of 2022 which have caused increased activity in H1 2023. Especially in the PhaseV project for which Monsenso provides development and validation of a scalable digital platform that allows decentralised patient recruitment, data collection and study implementation.
The platform will be used in studies within three important and very costly chronic disorders; obesity, chronic urticaria and diabetic foot ulcers. Up until now, we have received very good feedback from the project partners regarding the progress and the proactive approach of the Monsenso team. The goal is to continue the good trend for the rest of the project.
Furthermore, the research projects PERSONAE and MENTBEST both kicked off during H1 2023, and they will therefore require more efforts in H2 2023.
During H1 2023, we changed our development processes to adopt the “Shape Up” methodology which has proven to be effective and a range of new features have been developed. We are very satisfied with the change to “Shape Up” and expect to benefit even more from the method going forward.
Key risks
The most significant risks associated with Monsenso’s business are currently estimated to be:
Dependence on continued success with relatively few, large customers and projects.
Access to capital to support future growth plans.
Data and cyber security.
Ability to attract and retain competent employees.
Cash-level comment
At the end of H1 2023, the cash and cash equivalents was
Events after the balance sheet date
In
Cash-level comment
At the end of H1 2023, the cash and cash equivalents was
Outlook for 2023
For 2023, our revenue expectations remain
Key figures
('000 DKK) | H1 2023 | H1 2022 | |
Revenue | 4,409 | 2,601 | |
EBITDA | -1,142 | -2,832 | |
Profit for the period | -3,170 | -4,777 | |
Cash flows from operating activities | 1,139 | –4,074 | |
Equity, end of period | 13,016 | 16,697 | |
Net profit per share (DKK) | -0.11 | -0.21 | |
End-of-period, number of employees (FTE) | 12 | 14 |
Thomas Lethenborg, CEO and Robert Højer, CFO will present the interim financial report in a video to be found on monsenso.com/investors from
For further information:
Monsenso:
CEO
Thomas Lethenborg
Tel. +45 21 29 88 27
E-mail: lethenborg@monsenso.com
Chairman of the board
Tel.. +45 29 00 35
E-mail: petermorcheriksen@outlook.com
Certified Adviser:
Norden CEF A/S
Tlf. +45 20 72 02 00
E-mail: jn@nordencef.dk
About Monsenso
Monsenso is an innovative technology company offering a digital health solution for mental health and behavioral disorders. Our mission is to help provide better mental health to more people at lower costs. Our solution helps optimise the treatment of mental disorders and gives a detailed overview of an individual’s mental health through the collection of outcome, adherence and behavioural data. It connects individuals, carers and health care providers to enable personalised treatment, remote care and early intervention. Based on continuous research and development, our team is committed to developing solutions that fit seamlessly into the lives of individuals, increase their quality of life and improve the efficacy of mental health treatment. To learn more visit www.monsenso.com
Attachments
- Download announcement as PDF.pdf
- 230907.1H-2023.financial.report.v4.pdf
© Ritzau Denmark, source
