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ONWARD Medical Builds Commercial Momentum for the ARC-EX System and Reinforces its Brain-Computer Interface Leadership in Q1 2025
GlobeNewswire News Room· 2025-06-17 05:30
Core Insights - ONWARD Medical N.V. has successfully transitioned to a commercial organization, achieving significant milestones in the first quarter of 2025, particularly with the ARC-EX System, which has received strong initial demand and positive user feedback [1][12]. Commercial Traction - The company met its Q1 objective for the initial phase of the US launch of the ARC-EX System, successfully hiring and training a field organization, establishing sales processes, and selling ten systems [2][7]. - ONWARD anticipates meeting its first half sales target of approximately 30 systems, indicating a strong outlook for 2025 [2][12]. - The company secured access to prominent US government online procurement platforms, allowing Veterans Affairs and other government buyers to purchase the ARC-EX System [3]. Technology Advancement - ONWARD announced the first human implant of its ARC-IM Lumbar Lead, designed for optimal placement in the lumbar region to restore standing and lower limb mobility [4]. - The company received two grants to support early clinical feasibility studies using the ARC-IM System for addressing mobility challenges in Parkinson's disease, including a USD 1M grant from the Michael J. Fox Foundation and a USD 1.5M grant from the US Department of Defense [5]. - The company is preparing to initiate the Empower BP global pivotal study to assess the safety and efficacy of the ARC-IM System for blood pressure instability after spinal cord injury, pending FDA approval [6][13]. Scientific Leadership - The Pathfinder2 study results published in a peer-reviewed journal demonstrated that sustained access to ARC-EX Therapy can lead to continued functional improvements in individuals with spinal cord injuries [10]. - The company announced the successful 4th and 5th implants of its ARC-BCI technology, reinforcing its leadership in developing brain-computer interface solutions for movement restoration [8]. Financial Highlights - For Q1 2025, ONWARD reported EUR 0.4M in revenue and ended the quarter with net cash of EUR 50.5M [11]. - The company established a sponsored Level 1 American Depositary Receipt (ADR) program to facilitate US investor participation in its growth [11]. Outlook - ONWARD expects to receive FDA clearance for the ARC-EX System for home use and anticipates CE Mark authorization for marketing in Europe [13].
ARCPOINT REPORTS Q1 2025 FINANCIAL RESULTS
Globenewswire· 2025-05-26 23:49
Core Viewpoint - ARCpoint Inc. has reported its unaudited Q1 2025 financial results, highlighting a significant decrease in revenues and a net loss reduction compared to the previous year, primarily due to cost management strategies and the impact of the CRESSO transaction [1][12]. Financial Performance - Total revenues for Q1 2025 were $0.18 million, a decrease from $1.61 million in Q1 2024, attributed to the absence of royalty and franchising revenues following the CRESSO joint venture [12]. - The net loss for Q1 2025 was $0.62 million, improved from a net loss of $1.5 million in Q1 2024, driven by reduced costs in various operational areas [12]. - Operating cash flow for Q1 2025 was negative $0.9 million, an improvement from negative $1.3 million in Q1 2024 [12]. - EBITDA for Q1 2025 was negative $0.4 million, compared to negative $1.2 million in Q1 2024, indicating improved operational performance [12]. - Adjusted EBITDA for Q1 2025 was negative $0.6 million, compared to negative $1.0 million in Q1 2024, reflecting a similar trend of reduced losses [12]. Cost Management - The company has implemented temporary reductions in overall compensation and professional services costs amounting to approximately $57,000 per month, representing about 40% of total monthly compensation and recurring professional services costs [2][3]. - These cost reductions are part of the company's strategy to manage finances while focusing on increasing revenues through the MyARCpointLabs (MAPL) technology platform [2][3]. CRESSO Transaction - The CRESSO transaction, completed on August 20, 2024, involved a joint venture with Any Lab Test Now, creating the largest franchise network of its kind in the U.S. [4]. - Following the CRESSO transaction, ARCpoint holds a 29.5% interest in CRESSO, which is now accounted for using the equity method, leading to the deconsolidation of ARCpoint's franchise operations from its financial statements [4][5]. Cash Position - As of March 31, 2025, the company had total cash on hand of approximately $0.23 million, following the sale of its 68% share in ABH Greenville for $360,000 [6].
ARC Resources: Double First Quarter Boost Thanks To The Attachie Project
Seeking Alpha· 2025-05-02 21:45
Group 1 - The article focuses on analyzing oil and gas companies, specifically highlighting the work done by Oil & Gas Value Research in identifying undervalued companies in the sector [1] - The analysis includes a comprehensive breakdown of companies' balance sheets, competitive positions, and development prospects [1] - The author emphasizes the cyclical nature of the oil and gas industry, indicating that it is characterized by boom and bust cycles, which require patience and experience to navigate [2] Group 2 - The author has a beneficial long position in the shares of AETUF, indicating a personal investment interest in the company [3] - The article is presented as an opinion piece, with no compensation received for the content aside from the platform it is published on [3] - There is a clear distinction made that the article does not serve as investment advice, and investors are encouraged to conduct their own research [4]
ARCPOINT REPORTS 2024 YEAR END FINANCIAL RESULTS AND ANNOUNCES MANAGEMENT CHANGE
Globenewswire· 2025-04-28 21:00
Core Viewpoint - ARCpoint Inc. has reported its 2024 year-end audited financial results, highlighting a significant improvement in net income and a strategic focus on expanding its healthcare ecosystem through technology integration and partnerships [1][7]. Financial Performance - Total revenues for FY2024 were $5.5 million, a decrease from $6.7 million in FY2023, primarily due to the absence of royalty and franchising revenues following the CRESSO transaction [7]. - Net income for FY2024 was $1.3 million, a notable recovery from a net loss of $8.9 million in FY2023, driven by a $5.8 million gain on deconsolidation related to the CRESSO transaction [7]. - Operating cash flow for FY2024 was negative $2.6 million, an improvement from negative $4.2 million in FY2023 [7]. Strategic Developments - The appointment of Adam Ho as interim Chief Financial Officer effective May 1, 2025, aims to strengthen the company's financial leadership as it integrates Any Lab Test Now locations into its MyARCpointLabs technology platform [2][3]. - The CRESSO transaction, completed on August 20, 2024, has positioned ARCpoint and Any Lab Test Now as the largest franchise network of its kind in the U.S., enhancing their market presence [4][5]. Non-IFRS Financial Measures - EBITDA for FY2024 was reported at $2.5 million, a significant improvement from negative $7.7 million in FY2023 [14]. - Adjusted EBITDA for FY2024 was negative $2.4 million, compared to negative $4.3 million in FY2023, indicating a trend towards operational efficiency [14].
ARCPOINT ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT AND ANNOUNCES UPSIZE
Globenewswire· 2025-03-07 23:28
Core Points - ARCpoint Inc. has successfully closed a non-brokered private placement, raising gross proceeds of C$800,000 through the sale of 10,000,000 units at C$0.08 per unit [1] - Each unit consists of one class A subordinate voting share and one share purchase warrant, with the warrant allowing the purchase of an additional share at C$0.12 for 24 months [1] - The company plans to raise an additional C$700,000 by offering another 8,750,000 units under the same terms [5] Financial Details - The net proceeds from the offering will be allocated for operational expenses, investor awareness, investor relations, and marketing [2] - A cash commission of $36,057.60 was paid to finders, along with the issuance of 428,400 finder's shares and 536,400 finder's warrants [4] Related Party Transactions - Directors Felix Mirando and Adam Ho purchased a total of 764,199 units as part of the offering, which is classified as a related party transaction [3] - The participation of these directors is exempt from formal valuation and minority shareholder approval requirements under MI 61-101 [3] Marketing Agreement - ARCpoint has entered into a Marketing Service Agreement with Outside the Box Capital Inc., effective March 7, 2025, for marketing services [8] - The agreement includes a monthly cash fee of $25,000 USD for services aimed at increasing awareness of the company's activities [8]
ARC Resources: Three Pillars Of Growth Driving Free Cash Flow Yield Into High-Teens
Seeking Alpha· 2025-02-10 22:34
Group 1 - ARC Resources achieved a record-breaking year in 2024, indicating strong performance and setting a positive outlook for 2025 and beyond [1] - The company operates in the Oil, Gas, Energy, and Metals sectors, which are central to its business strategy [1] Group 2 - The analysis emphasizes the importance of fundamental analysis, focusing on a deep "Margin of Safety" and a "Catalyst" for investment decisions [1]
ARCPOINT ANNOUNCES C$800,000 NON-BROKERED PRIVATE PLACEMENT
Globenewswire· 2025-01-31 13:27
Core Points - ARCpoint Inc. plans to complete a non-brokered private placement to raise gross proceeds of up to C$800,000 through the sale of up to 10,000,000 units at C$0.08 per unit [1] - Each unit consists of one Class A Subordinate Voting Share and one warrant to purchase an additional share at C$0.12 for 24 months from closing [1] - The net proceeds will be used for operational expenses, increasing investor awareness, investor relations, and marketing expenses [2] Regulatory and Compliance - The offering is subject to necessary regulatory approvals, including acceptance from the TSX Venture Exchange [3] - All securities issued will be subject to a four-month hold period under applicable Canadian securities laws [3] - Finders' fees may be payable to eligible arm's length persons for certain subscriptions accepted by the company [3] Company Overview - ARCpoint is a US-based healthcare company that utilizes technology and physical locations to provide convenient and cost-effective healthcare solutions with transparent pricing [5]
ONWARD Medical's ARC-EX System Now Available on US Veterans Affairs Online Procurement Platforms
GlobeNewswire News Room· 2025-01-29 06:30
Core Points - ONWARD Medical has secured approvals for the ARC-EX System to be purchased through US government procurement platforms, enhancing access for Veterans with spinal cord injuries [1][2] - The partnership with Lovell Government Services is pivotal in facilitating the purchase of the ARC-EX System, which is now available through the VA Federal Supply Schedule and GSA Advantage platforms [1][3] - The ARC-EX System, authorized for commercial sale by the FDA in December 2024, offers a significant advancement in spinal cord injury treatment by delivering targeted stimulation to restore upper extremity function [4][8] Group 1 - The ARC-EX System is now accessible to US government clinics and healthcare facilities, ensuring rapid access for the VA, Military Health System, and other agencies [2][4] - The collaboration with Lovell Government Services aims to improve access to care for Veterans and expand the distribution of the ARC-EX System through additional channels like the Defense Logistics Agency's Electronic Catalog [3][4] - ONWARD Medical is committed to developing innovative solutions for restoring movement and function in individuals with spinal cord injuries, building on extensive scientific research and clinical studies [8] Group 2 - The ARC-EX System is designed for individuals aged 18 to 75 with chronic, non-progressive neurological deficits due to incomplete spinal cord injuries, focusing on improving hand sensation and strength [10] - Lovell Government Services has a strong track record in federal contracting and aims to enhance the availability of medical technologies for Veteran populations [6][8] - ONWARD Medical is headquartered in the Netherlands and operates a US office in Boston, with its stock listed on Euronext [9]
ARC Resources: Attachie Startup Is Now
Seeking Alpha· 2025-01-17 21:07
Group 1 - The article discusses the analysis of oil and gas companies, specifically focusing on ARC Resources and its projects, highlighting the search for undervalued companies in the sector [1] - The Attachie project startup by ARC Resources is mentioned as a significant factor contributing to an expected increase in free cash flow due to the completion of necessary projects [2] - The cyclical nature of the oil and gas industry is emphasized, indicating that it requires patience and experience to navigate effectively [2] Group 2 - The analyst has a beneficial long position in the shares of ARC Resources, indicating a personal investment interest in the company [3] - The article is presented as an independent analysis, with no compensation received from the companies mentioned, ensuring objectivity in the insights provided [3]
ONWARD Medical Announces First Commercial Sales of ARC-EX System
GlobeNewswire News Room· 2025-01-09 06:30
Company Overview - ONWARD Medical is a medical technology company focused on developing therapies to restore movement, function, and independence in individuals with spinal cord injury (SCI) and other movement disabilities [8] - The company has developed ARC Therapy, which has received ten Breakthrough Device Designations from the FDA [9] - ONWARD Medical is headquartered in the Netherlands, with a Science and Engineering Center in Switzerland and a US office in Boston, Massachusetts [10] Product Development and Milestones - The ARC-EX System, the first and only FDA-approved technology to improve hand strength and sensation in people with chronic spinal cord injury, achieved its first commercial sales in the US in late December 2024 [1][2] - The ARC-EX System was granted de novo classification by the FDA on December 19, 2024, and was named a 2024 TIME Magazine Best Invention [2] - The company anticipates authorization for home use of the ARC-EX System in 2025 and plans to seek CE Mark certification in early 2025, with a commercial launch in Europe expected in the second half of 2025 [5] - ONWARD Medical is also developing an implantable system called ARC-IM and an investigational ARC-BCI System, which uses a brain-computer interface powered by AI [5][9] Market and Industry Context - Spinal cord injury affects approximately seven million people worldwide, including over 300,000 in the US, with half of the injuries resulting in tetraplegia [7] - Lifetime treatment costs for tetraplegia exceed $5 million, highlighting the significant economic impact of SCI [7] - Historically, SCI has been considered permanent with limited options for functional recovery, particularly for those more than one-year post-injury [7] Commercialization and Partnerships - UW Medicine and Next Steps Chicago were among the first to purchase the ARC-EX System, aligning with the company's goal to provide access to this technology in both community rehabilitation clinics and major academic research centers [1][4] - The ARC-EX System is currently authorized for clinic use in the US, with plans to expand its availability for home use [5] - ONWARD Medical's partnerships with institutions like UW Medicine and Next Steps Chicago aim to redefine recovery and provide innovative care for individuals with SCI [4][5]