#Sweden #Oklahoma City #Acarix #CADScor #cardiac diagnostics

Acarix Year-End Financial Results 2024

Acarix, a notable leader in rapid cardiac diagnostics utilizing AI and acoustics technology, has released its financial results for 2024. The report highlights significant achievements and expansion within the company, particularly in the U.S. market.

According to Acarix's leadership, 2024 was a transformative year, marked by a strong sales performance and innovative strides in the field of AI-integrated diagnostics. The company's CEO, Aamir Mahmood, expressed pride in the substantial progress achieved throughout the year. The CADScor System, their flagship product, saw a remarkable 333% increase in placements compared to the previous year, which reflects both growing trust in Acarix within the medical community and the effectiveness of their expansion strategy.

Additionally, patch sales revenue for the CADScor system surged by 88%, contributing to increased overall performance in a competitive marketplace. Strategic partnerships, notably with Geo-Med, LLC, are set to enhance the system's availability to U.S. veterans, further broadening Acarix's impact in the healthcare sector.

Acarix also benefitted from a recent decision by the Centers for Medicare & Medicaid Services (CMS), which implemented fixed reimbursement rates for the CADScor System in outpatient settings, facilitating improved accessibility for patients in need of cardiac diagnostics. This favorable ruling strengthens Acarix's position and sets a solid foundation for sustained growth in 2025.

The quarterly highlights indicate total revenues for Q4 2024 reached SEK 1,700 thousand, a notable increase of 45% year-over-year. The company successfully installed 13 CADScor systems across the U.S., with 9 being on consignment and 4 sold. This uptick in system placements and patch sales is a clear indicator of the company's successful market penetration and the high demand for their innovative diagnostics solutions.

Despite a loss of SEK -16,020 thousand, adjusted for non-recurring costs, this figure shows significant improvement compared to previous years, suggesting that Acarix is moving towards profitability with strategic management of operating costs. The focus on reducing operating expenses is evident, resulting in a 27% decrease compared to last year.

Looking ahead, Acarix is optimistic about its prospects for the future. Mahmood indicated that plans for 2025 will involve geographic expansion, with increased emphasis on clinical studies as well as continued engagement with stakeholders. The position built by Acarix, characterized by a robust balance sheet and a clearly defined strategic plan, provides a strong basis for scaling operations and exploring new markets.

Moving Forward

As the company gears up for the challenges and opportunities that lie ahead, Acarix aims to maintain its trajectory of growth and innovation. Acarix has made a commitment to empowering healthcare providers with advanced diagnostic tools and hopes to further solidify its leadership in the cardiac diagnostics field through ongoing research and development.

The 2024 annual report will be made available on the company's website by April 15, 2025, alongside updates for their annual general meeting scheduled for May 13, 2025.

For more information about Acarix and its groundbreaking solutions in cardiac diagnostics, please check their official website or contact their investor relations team.

This year-end report reflects Acarix's unwavering dedication to improving healthcare outcomes for patients suffering from coronary artery disease, paving the way for a healthier future through innovation.