New Risk • Nov 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 12% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Negative equity (-kr115m). Market cap is less than US$10m (€5.17m market cap, or US$5.55m). Minor Risks Less than 3 years of financial data is available. Revenue is less than US$5m (kr40m revenue, or US$3.7m). 공시 • Oct 29
PMD Device Solutions AB Approves Board Changes PMD Device Solutions AB at its EGM held on October 29, 2024 approved that the board of directors shall consist of Martin Roos (new election) and Sten Dahlborg (new election). It was further resolved to elect Sten Dahlborg as chairman of the board. Peter Donnelly therefore resigns as member of the board as well as chairman. Martin Roos: Martin Roos is an INSEAD certified board director (IDP) with board and executive experience from telecom, tech and biotech. He currently serves as the chairman for Seamless Distribution Systems and is a board member of Nexam Chemicals and Redsense Medical (listed on NGM Nordic SME, Nasdaq First North and Spotlight respectively). He also serves on the board of startups such as Lignin Industries. Martin has previously served on the board operating committee of WOM in Chile and was the CEO for Cable and Wireless Caribbean and Altice in the Dominican Republic (integrating Orange with Tricom), in addition to senior leadership positions with Ericsson. During his tenure at Cable and Wireless, Martin also served on the Board of Directors of TSTT in Trinidad and Tobago. Martin holds an MSc in Economics from Stockholm School of Economics, a MSc in Chemical Engineering from The Royal Institute of Technology in Stockholm. Sten Dahlborg: Sten Dahlborg is an accomplished executive with over 20 years of experience in the Medtech industry and investment management. He has served as the chairman and managing director of several companies, including Ascilion and CGI Healthcare, where he successfully led strategic exits and business development initiatives. As a business advisor and board member for various medical technology firms, he has played a pivotal role in fostering innovation and commercialization within the sector. Currently, Sten is the CEO of CGI Ventures AB, advising new businesses on strategic growth and mergers and acquisitions, and serves as a co-owner of CITRUS MÉXICO. His expertise in adaptive leadership and investment management, coupled with a strong focus on commercial success, positions him as a leader in driving advancements in healthcare technology. 공시 • Oct 11
PMD Device Solutions Announces Board and Executive Changes PMD Device Solutions announced that its largest founding shareholder, Miman Ventures AB, has requested the Board of PMDS to convene an Extraordinary General Meeting (EGM) to appoint new Non-Executive Directors. This request follows recent management changes and forms part of a broader transition in the company's governance and operational structure. The company has recently seen the resignation of Magnus Christensen, Christer Ahlberg, and Anne Dorney. Anne, who has been an Executive Director, will also be retiring with immediate effect from her role as Chief Compliance Officer. In light of these departures, PMDS will actively engage in appointing new individuals who will support the company's continued growth. Reported Earnings • Aug 23
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: kr12.4m (up 2.6% from 2Q 2023). Net loss: kr11.7m (loss widened 85% from 2Q 2023). Revenue is forecast to grow 50% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Biotechs industry in Europe. 공시 • Jun 26
PMD Device Solutions AB Revises Earnings Guidance for the Year 2026 PMD Device Solutions AB revised earnings guidance for the year 2026. The company revised its annual recurring revenue (ARR) target from SEK 100 million to SEK 260 million by yearend 2026. The increase is driven by the current strong business activity in the UK and the acquisition and subsequent restructuring of the US remote patient monitoring company. PMDS initially forecasted SEK 100 million of annual recurring revenue as part of its listing in January 2024. New Risk • Jun 10
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr18m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr18m free cash flow). Share price has been highly volatile over the past 3 months (15% average weekly change). Negative equity (-kr106m). Minor Risks Less than 3 years of financial data is available. Revenue is less than US$5m (kr37m revenue, or US$3.5m). Market cap is less than US$100m (€12.9m market cap, or US$13.9m). 