In a business update, the medical device developer(BELL ) reported that demand and delivery of the X-PLO2R® Portable Oxygen Concentrator exceeded expectations.
Belluscura, which develops medical devices focused on lightweight, portable oxygen enrichment technology, said it has sold 377 units since the X-PLO2R launched in September 2021, 25% above current consensus forecasts and 150% above the initial forecast for 2021.
Due to current global supply chain challenges, the company has significantly increased inventory levels of key components and other raw materials in an effort to anticipate any potential disruptions to production levels and to maintain these levels at the in fiscal year 22 and beyond.
The group said it has increased its manufacturing capacity “significantly” to ensure the company can continue to meet increased demand from US distributors, as Belluscura continues to expand its sales network with online distributors. and physical distributors.
Belluscura informed investors that its efforts continue to launch its product outside of the United States and that to date it has received inquiries from distributors around the world.
As of December 31, 2021, Belluscura maintained cash balances of $15.6 million and remained debt free.
Speaking to shareholders this morning, the company said development of its follow-on products – the X-PLO2R CX and X-PLO2R DX – “continues to progress well” with the planned launch of these next-generation products in 2T22 and 3T22, respectively.
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Looking ahead, the board said it remains confident in the company’s efforts due to continued rapid growth in global demand for portable oxygen concentrators.
Robert Rauker, CEO of Belluscura, said: “Market reception for the X-PLO2R® has been positive and initial demand has been very strong. We are excited about the upcoming launch of the X-PLO2R CX and X-PLO2R DX and look to the future with confidence.
Belluscura expects to report its results for the year to December 31, 2021 in mid-February.
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