Successful IPO that raised $6.4 million on July 31, 2024, without issuing any warrants, occurred after the end of the second quarter and is not reflected in reported financials
Conversion of all reported outstanding preferred shares and debt into equity occurred as of the date of the IPO and is not reflected in the reported financials
After IPO and preferred shares and debt conversion share issuances, there are 20.85 million common shares outstanding, with 1.86 million common shares available to be traded
Underwriter lockups limit potential for deposit or trading of remaining 18.99 million common shares
As of the date of the IPO, Company had no debt, cash runway for lead program OST-HER2 into mid-2025
Second quarter revenue grew 59% as the Company continues to scale operations
Recent capital raise and debt conversion represent meaningful inflection points, strengthening the Company's balance sheet and financial flexibility
Read MoreNano One a déposé ses états financiers consolidés intermédiaires condensés (les « états financiers ») et son rapport de gestion pour le semestre clos le 30 juin 2024 (« T2 2024 ») et est heureuse de fournir un résumé et une mise à jour sur des événements à venir.
Read MoreNano One has filed its condensed interim consolidated financial statements (the “financial statements”) and management’s discussion & analysis (“MD&A”) as at and for the six months ended June 30, 2024 (“Q2 2024”) and is pleased to provide a summary and an update on subsequent events.
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Net Loss and Earnings per Diluted Share of $10.6 million and $17.48
Adjusted EBITDA was a $2.9 million loss, a $2.8 million improvement versus second quarter of 2023
The Company expects to generate between $2.0 million and $2.5 million in revenue in the third quarter of 2024
Read MoreQ2 2024 proforma revenue increased 24% YoY and expanded 22% QoQ to a quarterly record of $28.6 million, reflecting value of operating enhanced platform and success of growth initiatives
Q2 2024 proforma adjusted EBITDA loss improves significantly YoY and QoQ to $5.4 million, demonstrating benefits of growth strategies and cost reduction initiatives
$2.5 million sequential improvement in proforma adjusted EBITDA, supports efforts to reach profitability by the fourth quarter of 2024 as the Company expects further revenue growth, higher gross margin and additional operating cost reductions to benefit Q3 and Q4 results
Read MoreSubmitted FDA 510(k) Application and Passed FDA Administrative Review for the mBôs TKA System
Secured Initial Strategic Multicenter Clinical Trial Collaboration with Shalby Limited
Management to Host Business Update Conference Call Today at 4:30 p.m. Eastern Time
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