Mauna Kea Technologies Reports 2022 Annual Results
2022 sales in line with expectations at €7.5 million
Maintained a stable gross margin at 73% with reduced 2022 operating loss
Cash position as of December 31, 2022 at €3.1 million before receipt in January 2023 of a €6 million ($6.5 million) payment from Tasly JV
Paris and Boston, April 6, 2023 - 5:45 p.m. CEST - Mauna Kea Technologies (Euronext: MKEA), inventor of the Cellvizio®, the multidisciplinary probe and needle-based confocal laser endomicroscopy (p/nCLE) platform, today announces its annual results for the fiscal year 2022, ended December 31, 2022, as approved by the Board of Directors on April 5th, 2023.
2022 Financial Summary:
- Full year sales of €7,479k, down -3% year-on-year compared to 2021. Revenue from the JV with Tasly will start to be recognized in Q1 2023
- Despite global supply chain and inflationary challenges, 2022 gross margin rate remains stable at 73%
- Reflecting a reorganization announced in late-2021, 2022 operating loss is reduced by -26% to €9,063k
- Cash position of €3.1 million as of December 31, 2022 and €9.1 million as of January 26, 2023, following the receipt of the first payment from the JV with Tasly
Sacha Loiseau, Chairman and Chief Executive Officer of Mauna Kea Technologies, comments: “I believe 2022 represents an inflection point for Mauna Kea, during which we have increased our operational discipline, demonstrated our clinical value to world-class partners such as Tasly Pharmaceutical and Johnson & Johnson, and reaffirmed the organization’s commitment to fulfilling Cellvizio’s commercial potential.” Mr. Loiseau continues:“Energized by the talent and passion of the Mauna Kea organization, I look forward to 2023 and further evidence that our technology investments and partnership strategy will yield improved returns for our shareholders.”
For additional details and financial results, please see the full press release.