TruScreen, a cervical cancer screening technology company, has reported unaudited interim results for the half-year ended September 30, 2023.
Product sales increased by 33% compared to the same period the previous year, with strong performance in the major market of China.
The company also opened a new market in Saudi Arabia and made good progress in Zimbabwe and other markets, indicating a strong second half of the financial year.
TruScreen reported an operating loss of $1.35 million, attributed to lower margins on device sales in China and compliance costs associated with new regulatory reporting requirements.
The company had cash and cash equivalents of $0.8 million as of September 30, 2023.
TruScreen's China operations are experiencing rapid growth, with over 100 devices installed in hospitals and clinics in 22 provinces.
The company has also made progress in Zimbabwe, Saudi Arabia, Vietnam, and other markets.
TruScreen is investing in regulatory compliance and seeking further growth funding to maintain its commercialization momentum.See more