Median Technologies Records a 51 % Increase of Its 2020 Annual Revenue (Unaudited Figures)

By Benzinga3 days ago

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  • 2020 full year revenue of €13.5 million, increased by 51 % compared to 2019 (€9 million)
  • As of December 31, 2020, order backlog of €51.7 million, up 35 % compared to December 31, 2019
  • Cash and cash equivalents of €16.3 million as of December 31, 2020

Regulatory News:

Median Technologies (Paris:ALMDT) (ALMDT) today announces strong business activity for the full year 2020 (unaudited figures). In 2020, despite the Covid-19 pandemic and global health crisis, the company continued to grow at a sustained pace while increasing its headcount of 33 % globally (141 employees as of December 31, 2020 against 106 one year prior) to sustain its development.

A record year for the iCRO

2020 has been a record year for the iCRO business unit, which provides imaging solutions and services for oncology clinical trials. As of December 31, 2020, annual revenue reached €13.5 million, a 51 % increase compared to 2019 revenue (€9 million). As was the case last year, the company again experienced a steady increase in its quarterly revenues all along 2020, making Q4, 2020 the 9th quarter in a row with revenue increase (+ 18 % as compared to Q3, 2020). In Q4, 2020, revenue reached €4.1 million, a 56 % increase compared to revenue in Q4, 2019.

As of December 31, 2020, the company's order backlog was €51.7 million, a 35 % increase over a one-year period (€38.3 million as of December 31, 2019).

Considering the company's performance, as of December 31st, 2020, the company's cash and cash equivalents were €16.3 million, compared to €19.4 million as of June 30th, 2020. As a reminder, Median's cash was strengthened in April 2020, when the company received the first disbursement of the European Investment Bank loan (€15 million over a €35 million loan). Over 2020, the company cash burn rate was €0.64 million per month in average, dropping from €0.77 million per month ...

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