Mauna Kea Technologies publishes Q1 2022 sales and its 2021 financial results
Following its 2021 restructuring, Company experiences stable U.S sales growth, including improved gross margin and anticipated reductions in operating losses
Mauna Kea Technologies today announced financial results (unaudited) for the year ended December 31, 2021, and its sales for the first quarter ended March 31, 20221.
Nicolas Bouvier, interim CEO of Mauna Kea Technologies, declares: "At the end of 2021, we made the difficult decision to transform the Company's commercial model in order to reduce operating expenses, improve capital efficiency and increase the pace of investment in our highest potential clinical applications. Our restructuring reflected, in part, our experience over the past 5+ years in which significant operating losses failed to produce adequate returns for our shareholders”. Bouvier continued, “As we enter Q2, I am grateful for the resiliency of Mauna Kea’s employees and equally pleased by the early evidence that legacy Cellvizio users continue to rely on our technology to provide superior clinical care to their patients. Finally, we are encouraged to see early returns on our renewed efforts to build an expanded portfolio of clinical partners and intellectual property, including a new collaboration with On Target Labs and a major regulatory approval from the FDA in the field of molecular imaging."
For additional details and financial results, please see the full press release.
[1] This press release presents the results for the year ended December 31, 2021, based on the consolidated financial statements of Mauna Kea Technologies as of December 31, 2021 (unaudited). The audit procedures by the Statutory Auditors are in progress. The audited consolidated financial statements will be available before April 30 on the maunakeatech.com website.
