Belluscura shares jumped in early trade on Wednesday after announcing they had received orders for 6,500 DISCOV-R portable oxygen units worth in the region of $15m.
Belluscura shares were 20% higher at 44.5p at the time of writing after hitting highs of 49.75p. This is a significant update for Belluscura and represents a step change in order flow and revenue generation.
Belluscura’s revenue for the year to 31st December 2022 was $1.5m. Today’s announcement suggests Belluscura’s revenue could grow to many mutliples of this given the 6,500 orders worth $15m were from online retail sellers and medical equipment distributors only.
Belluscura said they have received similar interest from healthcare providers. Should this interest convert into orders, it could represent orders worth and additional $15m.
“We are very excited about the overwhelming interest in the DISCOV-R by online retail sellers and other medical equipment providers. Following the pre-market launch of the product and the patient usability study in June, initial feedback suggests we will receive the same or greater level of interest from leading home healthcare providers once it is launched commercially,” said Bob Fary. Sr Vice President of Global Sales, Belluscura.
In addition to announcing $15m worth of DISCOV-R orders, Belluscura annnounced ‘substantial’ progress on X-PLOR distribution and proprietary NOMAD biometric app.
Belluscura notes progress in acheiving CE and UKCA registration mark application for its X-PLOR® portable oxygen concentrator and that 1,500 X-PLOR units were on the way to the US from China.
The company is also working on the next generation of their proprietary NOMAD biometric app to drive innovation in telemedicine by utilising artificial intelligence. The NOMAD app will allow users of the DISCOV-R to track performance data on their concentrator and through devices such as an Apple Watch or FitBit.
“We believe the DISCOV-R, combined with our proprietary NOMAD app, will be transformational to the portable oxygen industry and patient outcomes,” said Bob Rauker, Chief Executive Officer, Belluscura.
“This is reflected by early demand for the product prior to its full commercial launch, which is expected to take place later this year. The significant number of orders received demonstrates the substantial appetite for this product and we anticipate adding several more of these providers to our distribution network as we balance the high demand with production expectations over the next twelve months.”
Belluscura was founded by Tekcapital before listing on AIM in 2021 raising £17.5m. Tekcapital holds an 11.16% stake in Belluscura.