Atrys Health, a global healthtech company that provides precision medical prevention, diagnosis, and treatment services and is a leader in telemedicine and cancer treatment, announced its third quarter 2024 results. The results reflect solid overall growth in revenue and adjusted EBITDA.
From January to September 2024, Atrys Health increased its revenue by 5.8% compared to the same period last year, or 7.2% at constant exchange rates. This brought the company’s cumulative revenue to €155.6 million. This growth was fueled by widespread expansion across all business sectors, particularly in the oncology division.
Meanwhile, gross margin showed year-on-year growth of 4.2% in September, reaching €102.6 million compared to the €98.5 million recorded during the first nine months of 2023. The gross margin on turnover was 66%, which is slightly lower than last year due to the greater weight of the Medical Oncology and Diagnostics areas in the company’s overall turnover.
EBITDA exceeded €26.2 million, a 33.1% increase over the previous year. Adjusted EBITDA improved to €31.2 million in the first nine months of the year, a 31.7% increase over the same period in 2023. The adjusted EBITDA margin on turnover also improved substantially, rising from 16.09% to 20.02%. This improvement was supported by operational growth and the cost-saving and efficiency plan implemented during the first nine months of 2024.
The company contained CAPEX investment, which stood at €7.97 million, a 4.6% decrease due to lower CAPEX growth. Additionally, operating cash flow increased by 60.8% compared to the previous year, reaching €18.3 million as of September 2024.