PHI - Rapport + 20 HoloMonitor

Phase Holographic

Interim Report 1 2024/25 (Cision)

2024-09-16 13:50

MAY 2024 – JULY 2024

Net sales	1 338 (2 726) KSEK
Operating result before depreciation (EBITDA)	-4 733 (-4 299) KSEK
Net result	-5 929 (-4 299)  KSEK
Earnings per share	-0.23 (-0.28) SEK
Gross margin	83 (76) %

In Short

• Our focus on onboarding and training new sales partners and establishing new market channels in collaboration with Altium has impacted our short-term revenue. However, we are convinced that these strategic investments will begin driving sales growth in the latter part of 2024.
• We expanded our collaboration network with leading research institutions, such as the University College London, which plays a crucial role in driving our product development and the product-to-market timeline for the clinical market forward.
• We have successfully entered the Spanish and Portuguese markets through a new partnership between our global distributor, Altium, and Paralab. Also, we bolstered our Nordic sales presence with a new distribution agreement between Altium and Kem-En-Tec Nordic.
• To further support PHI’s growth, we secured approval for a dual listing on the US OTCQB market. This listing is expected to boost liquidity, benefit our shareholders, and propel our efforts in the rapidly advancing regenerative medicine field.

CEO Commentary

The first quarter of 2024 has so far been a period of steady course and strategic positioning for Phase Holographic Imaging. Most notably, PHI has been very active around the globe in forming important academic and sales partnerships during this summer and preparing for future growth.

Financial overview

Sales for the first quarter of 2024 amounted to 1.3 million SEK, down from 2.7 million SEK during the same period last year. This decline is primarily attributed to our strategic focus on expanding our sales network and providing essential training to our new partners. Since our partnership with Altium began in November 2023, we’ve concentrated on onboarding and integrating new sales partners, which has been crucial for building a strong global presence.

Additionally, the period between the termination of some agents and distributors and the onboarding of new partners created a temporary gap in lead generation, further contributing to the short-term dip in sales. While this has impacted our immediate revenue stream, these efforts are necessary to secure long-term growth.

As we know from our sales cycles and processes, these strategic investments are expected to start delivering positive results later in 2024, driving sales growth, enhancing market presence, and supporting our continued expansion efforts.

Advancing clinical research with UCL

In June, we entered a partnership with University College London (UCL), marking PHI’s entry into the realm of clinical research. Our HoloMonitor M4FL system is set to play a role in a clinical project at UCL, showcasing the potential of our QPI technology in hospital environments. 

These collaborations with renowned research institutions play a crucial role in driving our product development forward. They offer valuable insights into QPI technology, provide feedback from users, and assist us in identifying emerging market trends. By engaging with key opinion leaders across various research fields, we can align our innovations with the changing needs of clinical and regenerative medicine markets.  

Expanding market reach in Spain, Portugal and the Nordics

Another significant achievement was our entry into the Spanish and Portuguese markets, which was made possible by a subcontract between our global distribution partners Altium and Paralab. In addition, PHI bolstered its Nordic sales presence with a new distribution agreement between Altium and Kem-En-Tec Nordic. Our partnership with Altium and its recently appointed distributor partner manager, Daniel Soor, plays an important role in expanding PHI’s market presence. By establishing ourselves in these vibrant and competitive markets, we can better serve customers and increase the accessibility of our HoloMonitor technology.

Business development

To expand PHI’s presence in the market, we applied for listing on the OTCQB Venture Market back in July. This action boosts our visibility in the U. S. and gives investors an additional avenue to trade our shares. The dual listing is expected to enhance liquidity and benefit shareholders while also aiding our progress in the fast-evolving sector of regenerative medicine. After receiving approval, we commenced trading on the OTCQB (OTCQB:PHIXF) on August 15th. 

During this quarter, we have seen some changes within our Board. After years of dedicated service, Leland Foster has decided to retire. Since joining us in 2012, Leland has been a pillar of our Board, providing invaluable guidance and leadership. Following our Extraordinary General Meeting in early September, we welcomed John Moore as our new Board member. Mr. Moore is a seasoned investor and entrepreneur with experience in the life sciences and energy industries. He currently holds positions as Chairman of two public life science companies and two private firms. We look forward to the fresh insights and expertise that John will bring to PHI.

Building for the future

The most important milestones of the quarter have been about building a foundation for future success. Hence, investments in training and support have been made to prepare partners to represent HoloMonitor in the market competitively. Looking ahead, we will continue working on expanding our global distributor network, increasing academic collaborations, and leveraging our listing at OTCQB to achieve our mission of making PHI a leader in key non-invasive cell quality control technologies for regenerative medicine.

Lastly, I am grateful to our excellent team, the partners, and the stakeholders for having continued belief and commitment to our vision. All together, we are committed to working on the advancement of regenerative medicine. 

Patrik Eschricht, CEO 

Phase Holographic

PHI announces significant order agreement from Altium for 20 HoloMonitor systems (Cision)

2024-09-16 13:52

Phase Holographic Imaging (PHI) is excited to announce a significant order agreement from Altium for 20 HoloMonitor systems, which will be shipped in the second half of 2024. The order agreement includes systems with various configurations and add-ons, which will impact the total order value.

"This order agreement from Altium is a testament to their strong confidence in the capability of HoloMonitor and its potential to meet market demands. Our collaboration with Altium has been influenced by an onboarding process and integration of new sales partners, which is starting to pay off as those systems will have a great contribution to our growth in the coming fiscal year", comments Patrik Eschricht, CEO of PHI.

The order agreement for 20 HoloMonitor units follows the distribution agreement that PHI’ entered with Altium in November 2023. As PHI’s global distribution partner, Altium has utilized its wide network to develop HoloMonitor's market presence further.  Over the last year, Altium has subcontracted various resellers and opened up many new markets for PHI in countries such as Azerbaijan, Bosnia and Herzegovina, Croatia, Czechia, Denmark, Estonia, Finland, Iceland, Israel, Kosovo, Latvia, Lithuania, Montenegro, North Macedonia, Norway, Poland, Portugal, Romania, Serbia, Spain, Sweden, Türkiye, among several other strategic markets.

This large order agreement from Altium shows great confidence in the capabilities of HoloMonitor and is intended for resale to end customers. The final shipments from PHI to Altium will be made before the end of 2024.

"Compared to Q3 and Q4 2023/24, during which Altium ordered 10 systems, this agreement is double the order size. The developing sales volumes are higher than we could have managed in-house ourselves, so we are very pleased with this first year of our distribution partnership", adds Patrik Eschricht, CEO of PHI.

Min kommentar
Perioden har till stor del bestått av utbildningsinsatser och förberedande Altium försäljning av HoloMonitor. Det visar det efterföljande pressmedelandet med beställning av 20 st HoloMonitorsystem. Försäljningen för perioden har alltså påverkats negativt av att Bolaget lagt resurser på utbildning och jobbat in en grund för ett framgångsrikt sälj från Altium. 

- Additionally, the period between the termination of some agents and distributors and the onboarding of new partners created a temporary gap in lead generation, further contributing to the short-term dip in sales. While this has impacted our immediate revenue stream, these efforts are necessary to secure long-term growth.

As we know from our sales cycles and processes, these strategic investments are expected to start delivering positive results later in 2024, driving sales growth, enhancing market presence, and supporting our continued expansion efforts. /

Den positiva tolkningen av ovanstående är att återstoden av 2024 kommer ge betydande försäljningsresultat där de 20 beställda systemen enbart är en aptitretare.

- De försäljningsvolymer som håller på att utvecklas är högre än vad vi själva hade kunnat hantera internt, så vi är mycket nöjda med det här första året av vårt distributionspartnerskap”, säger Patrik Eschricht, vd för Phase Holographic. /

Man har även tagit sig in på nya marknader via nya återförsäljare berättas det. Sen poängterar man värdet i att ha fått ett samarbete med engelska University College London.

Sammanfattningsvis kan rapporten summeras i de avslutande VD-orden :

Building for the future

The most important milestones of the quarter have been about building a foundation for future success. Hence, investments in training and support have been made to prepare partners to represent HoloMonitor in the market competitively.

                                                Mvh the99