Source: Sharecast
The AIM-traded company’s revenue mix diversified during the year, with sales outside the US Veterans Affairs (VA) sector increasing, reducing the VA’s share of total revenue to below 60%, compared to 72% in 2023.
It said it had accelerated investment in new market segments, including managed Medicaid, workers' compensation, long-term care, and skilled nursing facilities.
Those initiatives, along with increased engagement with key opinion leaders and expanded market access capabilities, were expected to sustain high growth levels in 2025 and beyond.
Its adjusted EBITDA margin for 2024 was expected to rise to 13.8%, up from 3.9% in 2023, despite increased receivables due to differences in payment structures between the VA and commercial payers.
The company said it remained confident in achieving annual revenue growth above 30% in the medium term.
“Our investment in expansion into a broader range of channels reflects the growing awareness of the burden of chronic disease and the need for effective treatments that also reduce costs,” said president and chief executive officer Dr Mike Griffiths.
“TWO2 therapy continues to demonstrate that it provides significant, clinically proven patient outcomes and cost reductions for payers by healing wounds more durably, increasing the body of evidence in support of its further adoption.”
Dr Griffiths said that in the US, chronic disease consumes 90% of all healthcare spending, with heightened attention being paid to reducing the growing burden.
“As market leader in this new, high growth sector, AOTI is uniquely positioned to reduce the total cost of care for this patient population.”
AOTI said it would publish its audited preliminary results for 2024 on 28 April.
At 1046 GMT, shares in AOTI were down 11.47% at 101.81p.
Reporting by Josh White for Sharecast.com.