Business
Results for the Year ended 31 December 2024
Results for the Year ended 31 December 2024.
About this update from Futura Medical Plc
[{"type":"text","content":"\n\n15 April 2025\n \nFutura Medical plc\n(\"Futura\" or the \"Group\")\nResults for the Year ended 31 December 2024\nFutura Medical plc (AIM: FUM), the consumer healthcare Group behind Eroxon®, that specialises in the development and global commercialisation of innovative and clinically proven sexual health products, is pleased to announce its final results for the year ended 31 December 2024 (\"FY24\").\n \nOperational highlights\n\n\n\n\n· \n\n\nContinued international launch of Eroxon® throughout FY24\n\n\n\n\n· \n\n\nInitial launch of Eroxon® in October 2024 in the US through Futura's commercial distribution partner Haleon, triggering a milestone payment of $5.0 million which was received in H2 FY24\n\n\n\n\n· \n\n\nEroxon® now launched in over 15 countries across the Americas, Middle East and Europe\n\n\n\n\n· \n\n\nLaunches continue to provide learnings for our commercial partners, helping inform and develop future rollouts and the marketing strategy undertaken by our partners\n\n\n\n\n· \n\n\nStrong sell-in to the retailer driving initial demand reflects the previous unmet consumer need for men with erectile dysfunction (\"ED\")\n\n\n\n\n· \n\n\nNew product development R&D pipeline progressing with positive results for Eroxon® Intense and WSD4000\n\n\n\n\n \nFinancial highlights\n\n\n\n\n· \n\n\nFY24 revenue and profit after tax ahead of market expectations1, with revenue growth of 349% to £13.9 million (FY23: £3.1 million)\n\n\n\n\n· \n\n\nProfit after tax of £1.3 million, with the Group maintaining an efficient operating model, as distribution partners take on marketing costs\n\n\n\n\n· \n\n\nBlended gross margin2 increased to 70% (FY23: 57%) reflecting the revenue mix of product sales, milestones and royalties\n\n\n\n\n· \n\n\nCash and cash equivalents of £6.6 million at 31 December 2024 (FY23: £7.7 million), which provides working capital through to H2 2026, along with expected revenues, we remain well capitalised with working capital to support our operations and current focused investment in R&...