(News Bulletin 247) – The manufacturer of connected medical devices Biocorp announced on Wednesday that it suffered losses in 2022, due to a ramp-up of its investments aimed at accelerating its internationalization.
In a press release, the group warns that the 2023 financial year will also be marked by “a high level of investment” due to the extension of its production site in Issoire (Puy-de-Dôme).
Its objective is to ensure a ‘gradual’ transition from its current structure to a recurring revenue model from the sale of its connected devices.
Over the past financial year, turnover increased by 14% to reach 11.7 million euros, but its operating expenses rose in the meantime by 21% to 12.6 million euros.
The company explains the increase in its costs by the sharp increase in expenses related to regulatory authorizations (FDA registration), patent filings and more generally expenses aimed at ensuring its growth in the years to come.
Taking these elements into account, the 2022 operating result is negative at -732,000 euros, compared to a positive result of 137,000 euros a year earlier.
Taking all of these elements into account, Biocorp posted a net loss of 651,200 euros, compared to a profit of 294,200 euros in 2021.
At the end of the 2022 financial year, its cash position reached 2.66 million euros against 1.85 million at the end of 2021.
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