Although throughout the year we have seen increased contracts, mainly in the USA the company is still not in profit, although we were told that profit was near a couple of years ago.
Operating loss is still evident but reduced by £0.4m to £2.0m (2016: £2.4m), so loss only reduced by 20%.
Group revenues £0.4m lower at £5.9m (2016: £6.3m) one has to wonder why, if they have more units and probes being used.
Even with gross margins improved to 75% (2016: 68%) the company is still loosing money.
With statements such as ‘Revenues from US managed care contracts down 20% at £0.4m (2016: £0.5m) due to one lost account’ ‘2017 was partially offset by a disappointing second half sales performance’. You have to wonder why they are loosing accounts if the system is as good and cost effective as the company states (I do believe it is as good as we have been told, so there’s the mystery.
I have never seen a product that has so many positive trials and feedback fail so miserably to almost by results contradict the figures from those trials.
As many of us have stated, It can only be down to the companies business model.
Can anyone can give a better explanation. Also does anyone think that by year end, or even by the first quarter of 2019, the company will finally be in profit.
With the separate release re the TrueVueTM System, (which I read first finishing with a positive feeling that was reversed on reading the results) I still feel the SP will either open down, or if upward will as ever drift ever downward again.