Belluscura PLC (GB:BELL) has released an update.
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Belluscura PLC, a medical device company specializing in lightweight oxygen concentrators, has reported a significant revenue increase to $1.35 million in the first half of 2024, marking a 264% rise from the prior year. The company also noted a gross profit of $0.51 million, recovering from previous losses, and expects continued sales growth with the full launch of their new DISCOV-R™ device. Despite these positive developments, Belluscura faces a net loss of $6.5 million and an Adjusted EBITDA loss of $3.5 million, while maintaining a stable net cash position and pursuing additional funding to support anticipated demand.
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