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Belluscura has released a Trading Update stating that due to the delay in securing funding and Chinese NMPA approval, sales and manufacturing have been delayed by at least four months and it now expects EBITDA breakeven in Q3 and to turn cashflow positive in Q1 2025.
Companies: Belluscura PLC
Dowgate Capital
On 12th September, Dowgate Capital and FTI Consulting held the third annual Digital Transformation Conference. Adam Reynolds (Chairman) and Bob Rauker (CEO) showcased Belluscura's award winning X-PLOR and DISCOV-R portable oxygen concentrators and highlighted the applications for its NOMAD app.
Belluscura has reported interims in line with our expectations and notes strong momentum across its product range, particularly the DISCOV-R, and ‘transformational' progress in its global roll-out after signing Agreements with InnoMax and McKessen.
Belluscura has signed an exclusive 10yr Licence and Royalty Agreement with InnoMax that we view as transformational and we raise our target price to 125p (100p).
Belluscura has released a very encouraging update that indicates it has achieved sales orders for 6,500/$15m DISCOV-Rs, has received 1,500 X-PLORs from Innomax for US distribution and continues to make good progress with the NOMAD app.
Belluscura has released FY22 results that are in line with our estimates and we retain our forecasts for the group to become EBITDA and cashflow positive in 2024.
Belluscura has completed a Placing & Subscription for £3.1m/$3.9m which we forecast will fund the group through to becoming EBITDA and cashflow positive next year.
Belluscura has released an operational update which reports it has started manufacturing in China, that the DISCOV-R won the Silver Award in the Best New Product category at MedTrade and trading is in line with expectations.
Companies: QBT TEK BELL NGHT MEX
Kemeny Capital
Belluscura has released a Trading Update which confirms the strong operational progress it made last year and the acceleration in unit sales around the year end.
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