Belluscura increases oxygen unit distribution and sales

Belluscura, the portable oxygen unit manufacturer and distributer, announced a substantial expansion of their distribution channels and sharply higher sales in a trading update on Friday.

By the end of 2022, Belluscura had shipped or received orders for 2,850 X-PLOR units and shipped 1,226 units, dramatically higher than the 377 shipped in the same period last year.

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The company said adjusted EBITDA loss was expected to be inline with expectations for the year.

Following the update, Belluscura shares had jumped over 4% to 46p in early trade on Friday, before reversing as the session progressed.

Belluscura cash balances stood at $1.8m while inventory and inventory deposits combined with cash balances total $11.8m.

“During the year we have made considerable progress. We have enhanced our production, quality accreditation and supply chain, positioning us well to deliver on the demand we are seeing for our devices, as we expand our distribution partners and geographical reach,” said Robert Rauker, CEO of Belluscura.

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“Market reception for the next generation X-PLOR and Nomad App has been extremely positive, with an encouraging level of forward orders.”

Belluscura distribution expansion

Belluscura took the decision to take manufacturing in-house last year due to high demand. This has helped achieve a lower production cost with 536 X-PLOR units produced in-house so far. There have been zero returns due to defects.

Manufacturing is set is ramp up in 2023 as demand increases and Belluscura launches the DISCOV-R oxygen units. DISCOV-R are lighter in weight than competitors and have the ability to deliver more oxygen.

The company are expanding their distribution network through an agreement with VGM Group which has yielded 17 new agreements in the last 3 months.

A South African deal with MedHealth Supplies attracted over 1,000 orders and sold out the first shipment within 48 hours.

Tekcapital portfolio company

Belluscura was established by Tekcapital (LON:TEK) who identified the need to help the millions of people suffering from breathing-related diseases such as Chronic Obstructive Pulmonary Disease.

Tekcapital developed Belluscura ready for an AIM listing in 2021. Tekcapital retains a 12% holding in Belluscura.

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