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CS MEDICA Aligns Financial Priorities: Transition to Calendar Year 2024 Postponed

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CS MEDICA A/S Optimizes Financial Planning with Rescheduled Year-End  

CS MEDICA, a MedTech innovator in cannabinoid-infused treatments, announces a calculated delay in the conversion of its budget year. Originally, the fiscal year was scheduled to convert from 1st October to 31st December 2023, aligning with the calendar year. However, after a cost/benefit evaluation, the company has decided to postpone its transition to occur from 1st October to 31st December 2024. 

This strategic decision underscores CS MEDICA's commitment to reverse its financial situation and ensure operational optimization. By postponing the fiscal year conversion, the company can allocate resources more effectively, enhancing the ability to meet financial goals as the daily operation will not be impacted, and ensuring a seamless transition end of 2024.  

Lone Henriksen, CEO of CS MEDICA, emphasizes: "Postponing our fiscal year conversion reinforces our financial priorities, allowing us to strengthen processes and enhance operational efficiency. As a scaleup MedTech company, we've made substantial investments in R&D, clinical evidence, patents, and regulatory compliance. While optimizing operations and wishing to convert to a calendar year, our immediate focus is ensuring financial stability and growing sales in key markets, notably Germany, the largest EU market for our CBD-infused treatments for pain management, autoimmune and stress-related disorders. In addition, we prioritize awareness by activating our share on the German stock markets to strengthen our local presence. This commitment amplifies value delivery to our stakeholders."

The upcoming quarterly report, covering Q2 2024 (January - March), will be released as scheduled in May, adjusting from Q1 2024 in the calendar year.

For more information about CS MEDICA, please contact:
Gitte Lund Henriksen, CFO
Phone: + (45) 2774 2280
Email: glh@cs-medica.com
Website: https://www.cs-medica.com/

CS MEDICA, a Danish MedTech pioneer, specializes in developing evidence-based, CBD-integrated treatments for pain management, autoimmune and stress-related disorders. With a focus on patient-centric care, our products range from innovative R&D to registered over-the-counter substance-based medical devices and dermaceuticals. Our flagship CANNASEN® brand, alongside our own-label solutions, exemplifies our dedication to safe, high-quality treatments for both human and veterinary health globally.

The company is listed on Spotlight Stock Market in Stockholm (symbol: “CSMED”). For more information, visit cs-medica.com and LinkedIn.

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consolidation medical device fiscal year CBD CS MEDICA

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Quick facts

The fiscal year was scheduled to convert from 1st October to 31st December 2023, aligning with the calendar year. However, after a cost/benefit evaluation, the company has decided to postpone its transition to occur from 1st October to 31st December 2024. 
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The upcoming quarterly report, covering Q2 2024 (January - March), will be released as scheduled in May, adjusting from Q1 2024 in the calendar year.
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Quotes

Postponing our fiscal year conversion reinforces our financial priorities, allowing us to strengthen processes and enhance operational efficiency. As a scaleup MedTech company, we've made substantial investments in R&D, clinical evidence, patents, and regulatory compliance. While optimizing operations and wishing to convert to a calendar year, our immediate focus is ensuring financial stability and growing sales in key markets, notably Germany, the largest EU market for our CBD-infused treatments for pain management, autoimmune and stress-related disorders. In addition, we prioritize awareness by activating our share on the German stock markets to strengthen our local presence. This commitment amplifies value delivery to our stakeholders.
Lone Henriksen, CEO of CS MEDICA