Belluscura, the developer of portable oxygen enrichment technology, announced a material increase in full-year revenue on Thursday and said they were confident about demand for the launch of DISCOV-R.
Belluscura, a Tekcapital portfolio company now listed on AIM, has developed portable oxygen devices that have the potential to improve the lives of millions of people with respiratory diseases.
Revenue for the full year surged to $1.54 million from $0.42 million the year prior and the company believes they are positioned to ‘deliver substantial growth.’
“The Group has made considerable progress in the year to 31 December 2022, during which it launched the next generation X-PLOR, built up significant distribution across the US and commenced an international roll out, established high quality manufacturing facilities and developed the DISCOV-R for a well-received launch in 2023,” said Robert Rauker, Chief Executive Officer, Belluscura.
“Trading in the first half of 2023 has continued in line with our expectations for the full year, with a significant second half weighting expected, as previously stated. Demand for X-PLOR, which is predominantly a Direct to Consumer unit, is growing, and we expect our affiliation with GoodRX, a leading digital healthcare platform that makes healthcare affordable and convenient for all Americans, will help it to continue to gain momentum over the coming months.
“The commercial launch of DISCOV-R will be transformational for the Group. Having received a positive reception at Medtrade, we are very encouraged by the fact that over 125 distributors have requested access to DISCOV-R, with the distributors indicating potentially significant demand for units.
“Following the recent fundraising, and as we are now utilising the Company’s previously high inventory levels, the Company is well positioned to deliver substantial growth in the coming years. We look forward to the future with confidence.”
Tekcapital has a 12% stake in Belluscura.