Intrasense: 2024 annual sales of €2.2m, against a backdrop of transformation and strategic investment

Intrasense: 2024 annual sales of €2.2m, against a backdrop of transformation and strategic investment

• Business levels affected by an unfavorable geopolitical context, with a marked impact on financial performance
• A change in governance in the second half of the year to accelerate strategic repositioning
• The emergence of new commercial traction, driven by multiple awards, major events and the CE under MDR1 certification of Myrian® 2.13, Liflow® 2.0 and DUOnco™ Liver 1.0 solutions

Montpellier, France, February 06, 2025, 5:45 pm. Intrasense (ISIN: FR0011179886 - Mnemo: ALINS), a French expert in AI-enhancedmedical imaging solutions facilitating and securing diagnosis, decision- making and therapeutic follow-up,publishes its consolidated sales for the full year 2024.

Following on from the publication of sales for the 1st half of 2024, business was severely penalized in the 2nd half by a generally deteriorated economic and geopolitical context, more specifically in China and Eastern Europe. Against this backdrop, the Group has decided to reorganize its governance structure in order to refocus its strategic priorities and drive a new commercial roll-out, while pursuing its policy of investing in a range of high medical value-added products. The Group would like to point out that all these decisions had a significant impact on profitability in the 2nd half of the year, with a level of losses at least equivalent to the 1st half. The roadmap associated with this new ambition will be unveiled when Intrasense publishes its annual results on March 26, 2025.

Alexandre Salvador, CEO of Intrasense, states:

• The year 2024 marks a key stage in Intrasense's transition and restructuring. Despite declining sales and earnings, we have continued, with the support of our reference shareholder, to invest in our high value-added solutions for practitioners and patients. We are very proud of the successful launches of Myrian® 2.13 and Liflow® 2.0, which are now CE certified under MDR. The Artificial Intelligence solutions we are developing for medical imaging have gained in recognition throughout the year, and we are continuing to develop and innovate our products. The forthcoming European Congress of Radiology in Vienna, from February 26 to March 2, will thus be an opportunity for Intrasense teams to present DUOnco™ Bone 1.0 2, an enhancement of Liflow® 3.0 3 for AI-powered bone lesion detection. In 2024, the Group also strengthened with the welcome of new talent to the teams. The appointment of Jérôme Thiebaud as Chief Business Officer was part of this drive to create strong new sales traction that is both driven by a recognized product range and directed towards mature geographical areas. All our teams and I are now ready to ramp up our development, with a view to a rapid return to growth and a gradual improvement in our results. More details on this ambition will be provided when we publish our annual results for 2024 ».

1. European Union Medical Device Regulation 2017/745
2. Under development, not CE marked, co-developed with Guerbet
3. Version 3.0 under development, not CE marked

A sharp drop in sales in 2024, characterized by deteriorating performances across all the Group's historic sites

For the full year 2024, Intrasense posted consolidated sales of €2.2 million, down 32.2% on the full year 2023. In the 2nd half of the year alone, sales totaled over €1 million, down slightly by 7.45% on the 2nd half of FY 2023. As a reminder, the level of sales achieved in the 1st half of 2023 still benefited from a favorable political situation in China, creating a significant and unfavorable base effect for the comparison of sales volumes achieved over both the 1st half and the full twelve months of 2024.

The geographical breakdown of sales over the twelve months of the financial year shows the following:

• In other geographic regions, sales remained stable at 510 K€. In Brazil, sales were boosted mainly by continued collaboration with MV, a major player in the development of healthcare management software. Intrasense's objective is to develop and expand its commercial activities in this country and in Latin America.
• In Europe, business has been steadily declining since the start of the armed conflict between Ukraine and Russia. Sales fell by 56% over the full 2024 financial year, to €329,000 from €1.1 million a year earlier.

• In China, the continuing effects of the market slowdown, following the anti-corruption campaign implemented in 2023, continue to mechanically slow down Intrasense sales. Sales in this zone were divided by 2 in 2024 to reach 425 K€ vs. 867 K€ a year earlier.

New governance to create the conditions for new commercial traction in the short and medium term

Against this difficult geopolitical backdrop, particularly affecting Intrasense's traditional markets, the Board of Directors decided to change the Group's governance during the summer of 2024. The appointment of Alexandre Salvador as Chief Executive Officer illustrated the Group's determination to refocus around a new management team.

This appointment was motivated by the desire both to accelerate the company's repositioning on high value-added medical solutions, integrating artificial intelligence in radiology, and to redefine commercial priorities within the framework of an ambitious roadmap. lntrasense will aim to accelerate its strategic repositioning while pursuing a policy of continuous innovation, thus meeting the growing needs of healthcare professionals for the benefit of their patients.

Certifications, awards, financing: AI solutions recognized by medical, industrial and financial players alike

Despite the downturn in business, Intrasense continued to invest throughout the year in its high medical value-added solutions. The Company's efforts were rewarded, in particular with the award of CE and MDR certifications for Myrian® 2.13 and Liflow® 2.0.

In November 2024, Intrasense announced the CE certification under MDR of its Myrian® 2.13 platform enriched with the new version of prostate AI. This new version extends the platform's integration with healthcare systems, offering healthcare professionals high-performance tools to improve diagnostic analysis, which ultimately facilitates patient care.

In April and December 2024, Intrasense obtained CE certification under MDR for versions of Liflow® 1.0 and 2.0. The first version had already been awarded the "JFR 2024 Innovation Prize" in the healthcare IT and AI category by the French Radiology Society (Société Française de Radiologie) in October 2024. This award proves the relevance of the solutions developed by Intrasense. Version 2.0 includes two new AI algorithms: DUOnco Liver™ for the detection of focal liver lesions, developed in collaboration with Guerbet, and an algorithm dedicated to lung lesions. In addition, Intrasense, Guerbet, Gustave Roussy and the CHU d'Angers have been awarded €5.9 million in funding for the Liflow® solution as part of BPI France's "Innovation in medical imaging" call for projects.

These successes have also helped to considerably raise Intrasense's profile as an expert in AI-enabled medical imaging solutions. The Company is now regularly called upon to exhibit its solutions and host presentations on AI innovation. These numerous appointments should, in time, provide a real commercial springboard for Intrasense.

Intrasense to take an active part in the ECR from February 26 to March 2, 2025 in Vienna

The European Congress of Radiology (ECR) is the largest radiology congress in Europe, and the second largest in the world. On this occasion, Intrasense will present Liflow® 3.0, the latest version of its oncology imaging platform enriched with AI algorithms, and a major innovation: DUOnco™ Bone 1.0, a new AI specifically dedicated to the analysis of bone lesions. The ECR will also highlight the Myrian® advanced radiological visualization platform, which is continually being enriched with the integration of advanced, intelligent modules.

Next financial communication :

Annual results 2024: March 26 (after close of trading)

About Intrasense

French expert in medical imaging since 2004, Intrasense develops and markets software platforms in

40 countries to facilitate and secure diagnosis, decision-making and therapeutic follow-up. Myrian®, an advanced visualization solution for radiology, provides 1,200 healthcare establishments with clinical applications to assist in the interpretation of all types of images. Since 2021, Intrasense has been developing Liflow®, a new multidisciplinary and collaborative platform dedicated to oncology, to optimize patient care and follow-up.A digital subsidiary of the Guerbet Group since June 2023, Intrasense continues to enrich its solutions by integrating artificial intelligence algorithms in medical imaging. Its teams work closely with healthcare professionals to help save lives.

Further information at www.intrasense.fr

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