SUMMARY OF FINANCIAL PERFORMANCE: FULL YEAR 2018 VS FULL YEAR 2017
• The Company delivered revenue of $25.6 million for the financial year ending 31December 2018, up 20% year on year versus total group revenue of $21.4 million in2017.
• The majority of revenue growth was driven by ADAPT® sales which grew 55% yearon year to $11.1 million, compared to $7.2 million in 2017.
• Revenue from the Infusion business was $14.5 million, up 2% year on year.
• Underlying growth in the Infusion business, excluding revenues from Go Medical,was stronger. Revenue was up 24% from $9.0 million in 2017, to $11.2 million.
• Selling, general and administration expenses (SG&A), which includes R&D spend,was $34.3 million for 2018. In 2018, SG&A costs for ADAPT® have declined as apercentage of revenue from 142% to 122%.
• Gross profit for the group for the year was $12.4 million representing a gross profitmargin of 49%.
• Net loss after tax was $24.7 million.
• The closing cash balance on 31 December 2018 was $12.0 million up from $8.3million on 31 December 2017.
SUMMARY OF FINANCIAL PERFORMANCE: FULL YEAR 2018 VS FULL YEAR...
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