Mauna Kea Technologies Reports Second Quarter and First Half 2019 Sales
Mauna Kea Technologies (Paris:MKEA) (OTCQX:MKEAY) inventor of Cellvizio, the multidisciplinary probe and needle-based confocal laser endomicroscopy (p/nCLE) platform, today announced its sales for the second quarter and first half of 2019 ended June 30, 2019.
“Our second quarter and first half of 2019 revenue growth performance reflects solid execution against our strategic priorities for 2019,” stated Robert L. Gershon, Chief Executive Officer of Mauna Kea Technologies. “Consumables sales were the largest contributor to our year-over-year growth in both the second quarter and first half of 2019 periods as we focused on driving utilization of Cellvizio in the U.S. Gastrointestinal (GI) market, and in targeted geographies outside the U.S. Our progress in expanding our pay-per-use model in the U.S. GI market during 2018 resulted in a larger installed base of systems which are driving the strong demand for consumables this year. Specifically, over the first half of 2019, we have experienced growth in total sales of consumables of 72% year-over-year, driven primarily by growth in sales of consumables to pay-per-use customers of 160% year-over-year. We are also experiencing strong growth in our targeted markets outside the U.S. over the first half of 2019, particularly in the the Asia-Pacific region where sales increased 106% year-over-year fueled by sales of both new systems and consumables.”
Mr. Gershon continued: “We are also making progress towards our third strategic priority for 2019, evaluating the interventional pulmonology market as a new clinical indication for Mauna Kea’s next commercial focus area. We have entered the validation and testing phases of our process and look forward to sharing more detailed updates as we move through the evaluation process during the second half of 2019. We are encouraged by the solid revenue results we have reported in the second quarter and first half of 2019 and believe we are executing well against our stated strategic priorities for 2019. The long-term growth opportunity for Mauna Kea remains extremely compelling and our recently enhanced balance sheet gives us further confidence in our ability to execute our strategic growth objectives going forward.”