Lund, Sweden - Clinical Laserthermia Systems AB (publ) ("CLS" or the "Company") today announces that, in its recap of 2024, in the first nine months of 2024 compared to the same period 2023, CLS saw a 274% rise in net sales and a 18% reduction in operating expenses. The company shifted to a commercial partnership model and strengthened its focus on neurosurgery. With expanded market access and improved operational efficiency, CLS positions itself for continued growth, and a positive cashflow in 2026.
CLS 2024 Recap
Strong Focus on Financial Performance
Net sales for the first nine months of 2024 increased to SEK 14.2 million, compared to SEK 3.8 million in the same period of 2023. This growth was fueled by increased adoption of the ClearPoint Prism system and rising demand for sterile disposable products. In the same period, CLS operating expenses decreased by 18% as a result of the company's cost-cutting activities.
Strategic Partnerships and Neurosurgery in Focus
In October we made the pivotal decision to grow all our business through strategic partnerships, with a strengthened focus on our ongoing successful neurosurgery business with Clearpoint Neuro Inc.
Our partnership has been instrumental in driving adoption of the ClearPoint Prism® products and we have significantly expanded installations across the U.S, providing an increasing number of patients access to minimally invasive neuro-LITT treatments of the brain.
Strategic collaborations in Urology
Early in the year CLS APAC Pte Ltd received market approval for our TRANBERG® Thermal Therapy System in Singapore. In line with CLS strategic shift, we concentrated our international presence in urology to entered strategic commercial partnerships in Singapore, France and Italy, and to our study clinics in Magdeburg and Toronto where we expect initial supportive study results in 2025.
Strengthening of Technological Leadership
CLS continues to strengthen its IP portfolio. In January, we secured full rights to our MRI-based temperature measurement and laser ablation technology through an agreement with Image Guided Therapy SA. At the end of the year CLS had a total of 5 patent families with 64 patents issued.
CLS 2025-26 Outlook
Continued Revenue Growth
Looking ahead, CLS is targeting a high-end double-digit growth in revenues each year in 2025 and 2026, a growth driven largely by an expansion of the ClearPoint Prism portfolio in the U.S, increasing the addressable market by over 40%.
Streamlining Operations and Increasing Margins
We are focused on operational efficiency, aiming to reduce operating expenses by at least 30% in 2025 compared to 2024. These measures, combined with increasing scalability, are expected to drive our gross margin to 60% by the end of 2026, positioning CLS for positive cash flow by Q4 2026.
Pioneering Innovation and Partnerships
Our continued collaboration with Clearpoint Neuro, Inc. and our strategic focus on neurosurgery, reinforce our leadership in this field. By expanding our commercial partnership model across therapy-enabling organizations in market segments outside of neurosurgery, such as urology, we build on experiences gained, ensuring a broader market reach for our technology with a cost-effective commercial set-up.
A Bright Future
The next two years mark a pivotal phase for CLS. By aligning our resources with our new strategic priorities, together with our partners, we are building a strong foundation for profitability and sustainable growth. Our joint focus on meeting customer expectations, operational excellence, and market expansion ensures we remain at the forefront of delivering transformative therapeutic solutions.
Thank you for your trust and support. Together, we are driving CLS toward a future of sustained success and value creation.
Dan J. Mogren
CEO, Clinical Laserthermia Systems AB
For more information, please contact
Dan J Mogren, CEO Clinical Laserthermia Systems AB (publ)
Phone: +46 (0) 70-590 11 40
E-mail: dan.mogren@clinicallaser.com
About CLS
Clinical Laserthermia Systems AB (publ), develops and sells TRANBERG®|Thermal Therapy System and ClearPoint Prism Neuro Laser Therapy System with sterile disposables, for minimally invasive treatment of cancer tumors and drug-resistant epilepsy. The products are marketed and sold through partners for image-guided laser ablation and are used in studies for treatment with imILT®, the company's interstitial laser thermotherapy for immune stimulating ablation with potential abscopal treatment effect. CLS is headquartered in Lund, Sweden, with subsidiaries in Germany, the United States and a marketing company in Singapore. CLS is listed on Nasdaq First North Growth Market under the symbol CLS B. Certified adviser (CA) is FNCA Sweden AB.
For more information about CLS, please visit the Company's website: www.clinicallaser.se