Sofwave Medical Reports Fourth Quarter and Full Year 2023 Financial Results and Business Highlights
SAN CLEMENTE, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Sofwave Medical Ltd (TASE: SOFW), an emerging leader in energy-based non-invasive, aesthetic medical devices for practitioners worldwide, reported financial results for the fourth quarter and full fiscal 2023 reporting period, for the period ended December 31, 2023, and recent business highlights.
- – Full fiscal 2023 revenue of $50.3M, +41% year-over-year growth; gross margin of 74.5%
– Full fiscal 2023 pulse recurring revenue of $13.0M, +81% year-over-year growth
– Fourth quarter revenue of $15.3M, +11% year-over-year growth
– IFRS operating loss narrowed to -$0.2M in the fourth quarter nearing breakeven, generated non-GAAP fourth quarter operating profit of $0.2M
SAN CLEMENTE, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Sofwave Medical Ltd (TASE: SOFW), an emerging leader in energy-based non-invasive, aesthetic medical devices for practitioners worldwide, reported financial results for the fourth quarter and full fiscal 2023 reporting period, for the period ended December 31, 2023, and recent business highlights. - Generated $0.2M cash in the fourth quarter of 2023.
- Cash used in 2023 of $7.6M down from $14.2M in 2022.
- Mr. Louis Scafuri, Sofwave CEO, commented, “We are extremely pleased with the performance throughout our business in 2023, and are happy to highlight top line growth of 41% and record fiscal revenue of $50.3 million.