Switzerland-headquartered Kuros Biosciences (KURN.SW) involved in the business of medical devices on Thursday announced higher revenues in the first half of 2025.
Net loss for the period widened to $2.01 million or $0.05 per share as compared with $0.236 million or $0.01 per share in the first half of 2024.
Profit before tax declined to $0.137 million from $1.612 million in the prior-year period on account of the higher finance expense.
Net finance expense amounted to $3.4 million as compared to a net finance income of $1.9 million in the prior-year period attributed mainly to foreign exchange gains and losses arising from the revaluation of monetary assets and liabilities denominated in foreign currencies.
The group achieved its first-ever operating profit, reaching $3.5 million, compared to an operating loss of $0.245 million in the first half of 2024.
Revenue increased to $63.5 million from $35.7 million in the first half of 2024.
The group continues to expect sales growth of at least 60 percent in 2025 and anticipates sales of between $220 million and $250 million by 2027.
With effect from January 1, 2025, the company changed its reporting currency from CHF to USD to align with the Group's primary market and operational footprint in the U.S.
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