Optomed Plc released its financial results for Q2 2024, showing a decline in revenue by 6.4% to EUR 3.5 million compared to the same period last year. The Devices segment saw a 15.7% revenue decrease, while the Software segment's revenue decreased by 1.6%. The gross margin improved to 69.9% from 66.4%. Adjusted EBITDA was EUR -0.8 million, and EBIT was EUR -1.9 million. Net profit/loss for the period was EUR -1.8 million, with earnings per share at EUR -0.10. Cash flow from operating activities was EUR -560 thousand. Optomed completed a directed share issue raising EUR 7.9 million, resulting in cash and cash equivalents of EUR 12.1 million at the end of the period. The company received FDA clearance for its Optomed Aurora with AEYE-DS AI, the first handheld device with autonomous AI for diagnosing diabetic retinopathy. Additionally, Optomed entered a joint venture in China with Zhongbao, owning 19.9% of the venture. For H1 2024, revenue decreased by 5.4% to EUR 6.8 million, with the Devices segment down by 9.2% and the Software segment by 3.8%. The gross margin slightly decreased to 68.2%. Adjusted EBITDA was EUR -1.5 million, and EBIT was EUR -3.1 million. The Annual General Meeting held on May 10, 2024, resolved that no dividend would be paid for 2023. Optomed's Board of Directors was re-elected, and KPMG Oy Ab was re-elected as the company's auditor. The company remains optimistic about its growth prospects for 2024 and continues to invest in product development and market expansion. A telephone conference for analysts, investors, and media will be held on August 8, 2024.

Optomed Plc announced that Sp Rahastoyhtiö Oy has notified a change in its holdings. As of July 1, 2024, Sp Rahastoyhtiö's investment funds hold 6.51% of Optomed's shares and voting rights, amounting to 1,278,107 shares out of a total of 19,630,397 registered shares. Each share entitles one vote. Optomed is a Finnish medical technology company specializing in handheld fundus cameras and related software, focusing on eye screening devices and AI-driven diagnostic solutions for eye diseases. For further details, contact Sakari Knuutti, CFO of Optomed Plc.

Optomed Plc has registered 1,500,000 new shares from its directed share issue in the Finnish Trade Register as of July 1, 2024. This brings the total number of shares to 19,630,397, including 353,973 treasury shares. The new shares are eligible for dividends and other shareholder rights from the registration date and will be traded on Nasdaq Helsinki Ltd starting today. Optomed is a Finnish medical technology company specializing in handheld fundus cameras and software for diagnosing eye diseases. For further information, contact CFO Sakari Knuutti at sakari.knuutti@optomed.com.

Optomed Plc has successfully completed a directed share issue, raising approximately EUR 7.9 million. The Board of Directors decided to issue up to 1,500,000 new shares to a limited number of Finnish and international institutional and qualified investors, deviating from pre-emptive subscription rights. The share issue also involved certain current shareholders to ensure its success. The subscription price was EUR 5.25 per share, representing a 13.8% discount from the closing price on 26 June 2024. The funds will support Optomed's new AI initiatives and US commercialization activities. The new shares will be registered in the Finnish Trade Register and are expected to begin trading on Nasdaq Helsinki Ltd on or about 1 July 2024. This share issue aligns with the company's strategy to rapidly develop its business and utilize its market position in the digitalization and AI transformation of the medical and health-related sector.

Optomed Plc has entered into a shareholder's agreement with Zhongbao Fund to establish a joint venture in China, focusing on eye screening services. Optomed will hold 19.9% of the joint venture, while Zhongbao will own 80.1%. This venture aligns with China's strategic plan to promote nationwide eye screening services, addressing the growing challenge of an aging population and a high number of undiagnosed diabetic patients. The cooperation will start with a trial period in collaboration with a leading ophthalmic institute under the National Health Commission of China. Additionally, Optomed has increased its credit risk accrual from 50% to 75% for a receivable of EUR 1,556,000 from a Chinese client due to late repayments. The establishment of the joint venture does not impact the company's outlook, and Optomed expects its full-year 2024 revenue to grow compared to 2023. Optomed is a Finnish medical technology company specializing in handheld fundus cameras and screening software, with operations in Finland, the US, and China, and sales in over 60 countries.

On 22nd May 2024, Optomed Plc announced a transaction involving Laura Piila, a senior manager at the company. The transaction involved the acceptance of a stock option linked to a share or a debt instrument named 2024A. The volume of the transaction was 35,000 units, with a unit price and volume weighted average price of 0.00 EUR. This was an initial notification, and no transaction venue was applicable.

On 22 May 2024, Markku Myllylä, a senior manager at Optomed Plc, accepted a stock option linked to a share or a debt instrument named 2024A. The transaction, which was part of a stock option programme, involved 2,500 units at a unit price of 0.00 EUR. The volume-weighted average price was also 0.00 EUR.