Atossa Therapeutics, Inc. (ATOS) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you for joining us this morning to discuss our full year 2023 results. On the call with me today is Carlo Desaro-Biondo, our group COO, and Jacques-Francois Deprest, our group CFO. And for the agenda today, I will share some key messages related to our accomplishments in 2023, as well as current strategic initiatives underway. Carla will cover in more details our performance bylines of business and regions. And then Jack Francois will go over our financial statement for the year. I'll come back with closing remarks, and then we'll take your Q&As. Before we get started, I want to draw your attention to the disclaimer that you'll find on slide three. And then you see the agenda. So let me move on to review the year. year end and you can see from the slide, we delivered group revenue and operating margin results that were in line with our full year guidance. This is my key messages. Our evident business reported continued growth and increased profitability in an environment where we saw a market softness in the Americas and in Northern Europe, particularly during the second half of the year. For the fiscal 23 tech foundations executed on this transformation plan, which was based, if you recall, on three pillars, refocus, recover, and rebound. And this has translated into a strong improvement in profitability and increased win rates with existing and new customers. Free cash flow for the second half of the year was slightly below our guidance, as we stated previously, and that was primarily due to deal slippage at year end. For the full year, free cash flow was negative 1.1 billion euros, reflecting higher restructuring, separation, and transformation costs, as well as lower working capital actions compared with the prior year. Cash at the end of the year was 2.4 b...