Alliqua BioMedical, Inc. Reports Second Quarter of
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Posted On: 08/10/2017 7:25:47 AM
Alliqua BioMedical, Inc. Reports Second Quarter of Fiscal Year 2017 Financial Results
Q2’17 Product revenue from continuing operations increased 34% year-over-year, led by Biologics growth of 106% year-over-year
YARDLEY, Pa., Aug. 10, 2017 (GLOBE NEWSWIRE) -- Alliqua BioMedical, Inc. (Nasdaq:ALQA) ("Alliqua" or "the Company"
, a regenerative technologies company committed to restoring tissue and rebuilding lives, today announced financial results for the second quarter ended June 30, 2017.
Second Quarter 2017 Summary:
Total revenue from continuing operations increased 24% year-over-year to $5.5 million.
Product revenue from continuing operations increased 34% year-over-year to $4.9 million.
• Sales of Biologics products franchise increased 106% year-over-year in Q2.
• UltraMist system sales increased 147% year-over-year in Q2.
Gross margin from continuing operations increased to 66%, from 64% in the same period last year.
Adjusted EBITDA loss from continuing operations improved by $2.5 million, or 55% year-over-year, to ($2.0) million.
Second Quarter 2017 Operating Highlights:
On April 3, 2017, the Company announced the close of a public offering, which resulted in gross proceeds of approximately $3.8 million. Under the terms of the offering, the Company agreed to sell 9,473,250 shares of its common stock at a public offering price of $0.40 per share.
On April 5, 2017, the Company featured five poster presentations summarizing new data and information related to its Interfyl and UltraMIST Therapy products at the Spring 2017 Symposium on Advanced Wound Care in San Diego.
On June 19, 2017, the Company announced that it has entered into a partnership with Partners Capital Group to provide potential UltraMIST customers with new equipment financing programs.
“We were pleased to achieve 34% product revenue growth during the quarter, driven by 106% growth in sales of our Biologic products, and strong system sales in our UltraMIST franchise, said David Johnson, Chief Executive Officer of Alliqua BioMedical. Our organization has been focused on executing on our commercial strategies, which include targeting specific markets for our Biologics and UltraMIST franchises, raising awareness within the medical community on the features and benefits of our products through educational events, and leveraging our enhanced hybrid sales organization. In addition, we are also pleased to see our planned reduction in operating expenditures take effect, together with our strong revenue growth, resulting in a 55% decrease in adjusted EBITDA loss from continuing operations.”
“We are reaffirming our 2017 revenue guidance based upon our growth performance during the first six months of this year. Importantly, while we made significant progress in maximizing our capital resources this quarter, we remain acutely focused on securing the requisite capital to effectively pursue the compelling growth opportunity for our regenerative technologies.”
http://ir.alliqua.com/press-releases/detail/784
Q2’17 Product revenue from continuing operations increased 34% year-over-year, led by Biologics growth of 106% year-over-year
YARDLEY, Pa., Aug. 10, 2017 (GLOBE NEWSWIRE) -- Alliqua BioMedical, Inc. (Nasdaq:ALQA) ("Alliqua" or "the Company"
, a regenerative technologies company committed to restoring tissue and rebuilding lives, today announced financial results for the second quarter ended June 30, 2017. Second Quarter 2017 Summary:
Total revenue from continuing operations increased 24% year-over-year to $5.5 million.
Product revenue from continuing operations increased 34% year-over-year to $4.9 million.
• Sales of Biologics products franchise increased 106% year-over-year in Q2.
• UltraMist system sales increased 147% year-over-year in Q2.
Gross margin from continuing operations increased to 66%, from 64% in the same period last year.
Adjusted EBITDA loss from continuing operations improved by $2.5 million, or 55% year-over-year, to ($2.0) million.
Second Quarter 2017 Operating Highlights:
On April 3, 2017, the Company announced the close of a public offering, which resulted in gross proceeds of approximately $3.8 million. Under the terms of the offering, the Company agreed to sell 9,473,250 shares of its common stock at a public offering price of $0.40 per share.
On April 5, 2017, the Company featured five poster presentations summarizing new data and information related to its Interfyl and UltraMIST Therapy products at the Spring 2017 Symposium on Advanced Wound Care in San Diego.
On June 19, 2017, the Company announced that it has entered into a partnership with Partners Capital Group to provide potential UltraMIST customers with new equipment financing programs.
“We were pleased to achieve 34% product revenue growth during the quarter, driven by 106% growth in sales of our Biologic products, and strong system sales in our UltraMIST franchise, said David Johnson, Chief Executive Officer of Alliqua BioMedical. Our organization has been focused on executing on our commercial strategies, which include targeting specific markets for our Biologics and UltraMIST franchises, raising awareness within the medical community on the features and benefits of our products through educational events, and leveraging our enhanced hybrid sales organization. In addition, we are also pleased to see our planned reduction in operating expenditures take effect, together with our strong revenue growth, resulting in a 55% decrease in adjusted EBITDA loss from continuing operations.”
“We are reaffirming our 2017 revenue guidance based upon our growth performance during the first six months of this year. Importantly, while we made significant progress in maximizing our capital resources this quarter, we remain acutely focused on securing the requisite capital to effectively pursue the compelling growth opportunity for our regenerative technologies.”
http://ir.alliqua.com/press-releases/detail/784
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