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Mauna Kea Technologies Reports H1 2024 Financial Results and Q3 2024 Sales

15 October 2024

Confirmation of lower breakeven point trajectory with 9% Reduction in Operational Expenses 

 Q3 2024 Sales Growth of +24%1 Driven by New System Sales in the U.S. and Europe 

 Official Launch of the Food Intolerance Platform CellTolerance® 

 Sales Pipeline Strengthened thanks to Recent Positive Clinical Results in Pancreatic Cysts and Lung Cancer 

Reaffirming Guidance of 20% Annual Sales Growth1

Paris and Boston, October 15, 2024 – 6:30 pm CEST – Mauna Kea Technologies (Euronext: ALMKT), inventor of Cellvizio®, the multidisciplinary probe and needle-based confocal laser endomicroscopy (p/nCLE) platform, today announces its financial results for the first half 2024, ended June 30, 2024, as approved by the Board of Directors on October 11, 2024 and sales for the third quarter 2024. The half-year financial report is available on the Company’s website. 

Sacha Loiseau, Ph.D., Chairman and CEO of Mauna Kea Technologies, commented: “As we look to year-end, I am pleased that the professionalism and commitment of the Mauna Kea organization combined with expanding recognition of the clinical value of Cellvizio is creating a clearer path to producing profitable growth. In the third quarter, we achieved growth in systems sold and a 29% y/y increase in consumables delivered while obtaining important clinical study results in lung and pancreatic cancers. Publications by leading authors also contribute to our commercial success and create new strategic partnerships opportunities. At the same time, we are working diligently to consolidate our foundation, including implementing rigorous cost reduction initiatives that both extend our cash runway and accelerate Mauna Kea’s path to profitability. Finally, we are working on the launch of CellTolerance® before year-end at a major French wellness clinic. With further sales gains expected in the U.S. and at our Chinese joint venture, we confirm our 2024 revenue target.” 


 
1 Excluding licensing revenues 

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