This News Digest Brought to You by
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BY: RACHEL LELAND
At least 12 publicly traded companies have multi-million dollar divisions, or their entire corporate focus, in the reproductive health space.
The companies have different fiscal years. Some ended their 2022 fiscal year last summer. Most will not until the end of March 2023. In their most recent quarterly or annual reports, only one company, Jinxin Fertility Group which owns HRC Fertility, reported a gain in net profit. Inside Reproductive Health indicates the reporting periods below.
Jinxin Fertility Group
According to Jinxin Fertility Group’s half-year earnings report, the company experienced a 27.8% increase in gross profit, jumping from ¥363.2 million in June 2021 to ¥464.3 million the same month in 2022. In the same period, the company’s total revenue climbed from ¥859.3 million to ¥1.1 billion, a jump of 32.5%. The Group’s net profit bumped from ¥162.6 million to ¥187.6 million, a 15.4% climb. Jinxin Fertility Group is listed on The Stock Exchange of Hong Kong Limited.
Femasys
Femasys’ third-quarter report shows that the company’s gross sales jumped 24.7% from $105,403 to $131,451 from Q320, largely due to the increase in U.S. FemVue sales. The report flagged the company’s YoY revenue up 28.89% from $269,580 to $347,460. Their income statement reports an $8.5 million net loss for the first three fiscal quarters of 2022. Femasys is listed on the NASDAQ.
Cryoport
According to Cryoport’s third-quarter report, revenue from the company’s reproductive medicine increased to $7.6 million, a gain of 15% or $1.0 million compared to the same period in 2021. The report noted that the increase was driven by strong demand for the company’s CryoStork solutions as well as new international fertility clinic partnerships. YoY net loss attributable to common stockholders was $33.9 million, or $0.69 per share, for the nine-month period ending in September 2022. Cryoport is listed on the NASDAQ.
Hamilton Thorne
According to Hamilton Thorne’s third-quarter report, YoY gross profit increased a total of 11.8% from $18.2 to $20.4 million. Year over year sales increased 14% to $41.8 million. Hamilton Thorne’s net income dropped 41.8% from $1.6 million to $930,000. Hamilton Thorne is publicly traded on the Toronto Venture Exchange.
Monash IVF
Monash IVF’s group revenue grew 4.7% from AU$183.6 million to AU$192.3 million. 26,22236,200 Their net profit for fiscal year 2022, which ended June 30 of the same year, decreased from 2021’s AU$36.2 million to $26.2 million, a drop of 27.6%. Monash IVF is publicly traded on the Australian Securities Exchange.
Natera
According to Natera’s third-quarter report, gross profit for the third quarter in 2022 and 2021 were $94.1 million and $76.7 million, respectively, representing a gross margin of 44.7% and 48.5%, respectively. The company’s total revenue climbed from $452.4 million in 2021 to $602.9 million, a 33.2% increase. Natera reported a net loss for the third quarter of 2022 of $121.5 million, or ($1.25) per diluted share, compared to a net loss of $151.3 million, or ($1.63) per diluted share, for the same period in 2021.
EMD Serono
Merck KGaA is publicly traded on the Frankfurt Stock Exchange and the Xetra Stock Exchange.In the United States and Canada, Merck operates as EMD Serono in the healthcare business. According to Merck’s third quarter report, fertility sales grew 6.2% from €1.003 billion to €1.066 billion. The company’s healthcare specific income loss was substantial, dropping to € –133 million from € 129 million in 2021.
Organon
According to Organon’s third quarter report, the company’s gross profit in 2022 of $991 million was close to last year’s gross profit of $986 million. Total net revenues were $1,537 million for the third quarter of 2022, a decrease of 4% as-reported and an increase of 3% excluding the impact of foreign currency, compared with the third quarter of 2021. Net income from continuing operations for the third quarter of 2022 was $227 million, or $0.89 per diluted share, compared with $323 million, or $1.27 per diluted share, in the third quarter of 2021. According to the report, Follistim AQ (follitropin beta injection), increased 2% ex-FX in the third quarter of 2022, and ganirelix acetate injection increased 52% ex-FX. Organon is publicly traded on the New York Stock Exchange.
INVO Bioscience
According to INVO Bioscience’s third-quarter earnings report, revenue decreased by more than 87% following the termination of the company’s license with Ferring Pharmaceuticals on January 31, 2022. Gross profit for the YoY third quarter also dropped by 36% from $198,456 to $126,205. In the third quarter, INVO had a net loss of $2.5 million. INVO Bioscience is listed on the NASDAQ.
Cooper Surgical
In its fourth quarterly report, CooperSurgical, a subsidiary of CooperCompanies, saw revenue up 35% to $277.1 million. YoY gross profit for the entire CooperCompanies climbed from $1.95 billion to $2.14 billion, 9.4%. All in all, CooperCompanies’ net income fell by 86.9% from $2.94 billion to $385 million. Cooper Companies is traded on the New York Stock Exchange.
Myovant Sciences
In its third-quarter earnings report, Myovant Sciences showed its cumulative total revenue for 2022 reached $321.5 million surpassing the previous year’s total of $173.4 million by 85%. Net loss for the Q3 2022 was $57.6 million compared to $63.4 million for the same period a year ago. Myovant Sciences is traded on the New York Stock Exchange.
Progyny
In its third-quarter report, Progyny, reported a 53% year-over-year growth increase to $572.5 million from $373 million. The company’s gross profit was $122.8 million, an increase of 41% from the $87 million reported in 2021. Finally, net income was $26.9 million, a decrease of 46.8% from last year’s $50.6 million. Progyny is listed on the NASDAQ.
Pete Anevski, Chief Executive Officer at Progyny attributes the biggest driver of demand for fertility benefits to need and increased interest among millennials, the largest demographic in today’s workforce.
“Traditional insurance plans attempt to control the cost of care by restricting utilization with dollar maximums, step therapies, prior authorizations, and treatment exclusions. Their approach results in low live-birth rates and high-cost, high-risk pregnancies and multiple births, which negatively impact employers and their members,” Anevski said.
The themes reported in this publication are those of the news. They do not reflect the views of Inside Reproductive Health, nor of the Advertiser
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