Business
Pre-close Trading Update
Pre-close Trading Update.
About this update from Aoti, Inc.
[{"type":"text","content":"\n\n15 August 2024\n \n \nAOTI, INC. (the \"Company\" or \"Group\" or \"AOTI\")\n \nPre-close Trading Update\n \nGood operational progress: the Group remains confident of meeting market expectations for the Full Year 2024\n \nAOTI, INC., a medical technology group focussed on the durable healing of wounds and prevention of amputations, is pleased to provide a trading update for the six months ended 30 June 2024 (\"the Period\").\n \nTrading has been strong in the second quarter and has offset the slower trading in January and February as referenced in the Company's recently published Admission Document. As a result, the Company expects to report revenue for the Period of approximately $26.3 million (H1 2023: $20.8 million), a growth of 26.5 per cent.\n \nThe Company successfully raised net proceeds of £13.5 million (c.$17.5 million) through an initial public offering on AIM on 18 June 2024. Subsequently, the Group has received clearance from the FDA to extend the use of its NEXATM NPWT System into the home care setting, further increasing its addressable market. Negotiations in new Medicaid states are progressing well, as are discussions with insurers to broaden reimbursement within states where the Group is already active. The Group has also secured a contract with a leading Workers Compensation services company, which supported nearly 1 million patients across the USA in 2023.\n \nThe Company remains confident of delivering greater than 30 per cent revenue growth and meeting market expectations for the Full Year 2024. The Company will report its unaudited interim results for the six months ending 30 June 2024 on 16 September 2024.\n \nEND\n \n\n\n\n\nAOTI, INC.\nDr. Mike Griffiths, Chief Executive Officer\nJayesh Pankhania, Chief Financial Officer\n \n\n\n \n+44 (0)20 3727 1000\[email protected]\n\n\n\n\nPeel Hunt LLP (Nominated Adviser and Broker)\nDr. Christopher Golden, Patrick Birkholm\n \n\n\n \n+44 (0)20 7418 8900\n\n\n\n\nFTI Consulting (Financial PR & IR)\nBen Atwell, Simon Conway,\nNatalie Garland-Collins, Alex Davis\n \n\n\n \n+44 (0)20 3727 1000\[email protected]\n\n\n\n\n \n \nABOUT AOTI, INC.\n \nAOTI, INC. was founded in 2006 and is based in Oceanside, California, US and Galway, Ireland, p...