PHI announces extraordinary quarter sales of about 5MSEK — marks the highest ever in Company history
Phase Holographic Imaging (PHI) is excited to announce that preliminary Q3 net sales are summing up to approximately 5MSEK. These extraordinary quarterly net sales make it the highest ever in the Company's history and mark an important financial milestone. Contributing to these quarterly sales are purchase orders from the first five Altium subsidiaries, the global distribution partner for PHI. These quarterly net sales for the third quarter of this fiscal year will be reflected in the upcoming Q3 interim report, released on March 27, 2024.
Patrik Eschricht, CEO of PHI, comments:
“We are very happy about our unprecedented sales this quarter. Indeed, they mark an important financial milestone for us. Moreover, we value having such a trusted long-term partner in Altium.”
PHI has strategically refocused its sales efforts towards partner collaborations, allocating more internal resources to the innovation of QPI technology and product development in regenerative medicine, coupled with enhanced market engagement. This recalibration is pivotal for increasing the visibility and market penetration of the HoloMonitor product line, significantly contributing to the Company's journey toward financial stability and improved cash flow.
In this pivotal year, PHI is methodically expanding into the broader clinical market and the dynamic sector of regenerative medicine. The formation of strategic partnerships and securing key investments are central to PHI's objective of establishing HoloMonitor’s QPI technology as a recognized standard in cell quality control.
Building on this strategic alignment, the partnership with Altium, a prominent distributor of laboratory solutions and PHI's largest investor, is highly significant. Altium enriches PHI with a vast network and industry expertise. With the intention of increasing future sales, the first five Altium subsidiaries conducted purchase orders for several HoloMonitor systems. They are intended, for example, for use in Altium’s sales processes, such as product demonstrations at customer sites, with the expectation that these systems will generate future sales opportunities. Due to the agreement’s sensitive nature, the exact value of the order will remain undisclosed.
“We're excited about these systems’ potential to drive future sales and further our mission to empower any lab to work cell-friendly,” adds Patrik Eschricht.
More information about Altium and PHI’s collaboration can be found in the press release from October 26, 2023.
This disclosure contains information that Phase Holographic is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 30-01-2024 15:05 CET.
For additional information, please contact:
Lisa Bodily
E-mail: ir@phiab.com
Web: www.phiab.com – Live cell imaging & analysis
Phase Holographic Imaging (PHI) develops instrumentation and software for time-lapse cytometry. The products are used for long-term quantitative analysis of the dynamics of live cells, particularly significant in the research of cancer, as well as in the treatment of inflammatory and autoimmune diseases. The products are sold globally through the company's distributors. The company is based in Lund, Sweden, and in Boston, Massachusetts.