(AOF) – Global medical device company, Mauna Kea shows a net loss in the first half of 2022 to 6.2 million euros, reduced by 479,000 euros compared to the previous period. Its gross margin rate for this half of 2022 was 73%, up 2 points compared to 71% during the previous period, thanks to a more favorable sales mix during the first half of 2022. operating costs, excluding costs of goods sold, decreased by €1.2 million from one period to the next, to reach €7.7 million.
This variation is explained by lower expenses in Sales & Marketing (-21%), administrative expenses (-20%) and share-based payments (-57%), while expenses in research and development slightly increased by 405,000 euros.
Thus, the operating loss improved to -5.04 million euros, compared to -6.09 million euros in the first half of 2021. The restructuring of Mauna Kea Technologies and the reallocation of resources to the R&D department having enabled this improvement.
Its cash position stood at €5.3 million at the end of June 2022 and its total amount of long-term debt at €26.4 million, compared to €11.9 million in cash and €26.9 million euros in long-term debt as of December 31, 2021.
Its total revenue for the first half of 2022 amounted to 3.3 million euros, a slight increase of 2% compared to the previous period.
First-half sales benefited in particular from the good momentum of Systems and Services sales, up 11% and 22% respectively.
Geographically, sales in the United States during the first half increased by 35% compared to last year, despite a reduced sales force.
Within the EMEA & ROW region, sales generated were up 6%, while sales in the Asia-Pacific market were down 61%, the latter remaining impacted by restrictions due to the pandemic.
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