Sisram Medical Announces 2024 Annual Results
New product launches drive double-digit growth in key markets and deliver market outperformance amid economic challenges
HONG KONG, March 19, 2025 /PRNewswire/ -- Sisram Medical Ltd (the "Company" or "Sisram", 1696.HK; together with its subsidiaries collectively referred to as the "Group"), a global consumer wellness group, featuring a distinguished synergistic ecosystem of business building blocks and consumer-focused approaches including Energy-Based Devices (EBD), Injectables, alongside other complementary offerings, announced its audited consolidated annual results for the year ended December 31, 2024 (the "Reporting Period").
FINANCIAL HIGHLIGHTS
- Revenue was US$349.1 million, representing a decrease of 2.8% YoY.
- Gross profit margin was 62.1%, representing an increase of 1.0 percentage point from 61.1% in 2023.
- Revenue portion derived from direct sales for the year ended December 31, 2024, was 87% of total revenue, as compared to 78% for the corresponding period in 2023. Revenues in Asia Pacific, European, Middle East and Africa were US$116.2 million, US$50.5 million, US$34.6 million, increased by 6.0%, 0.7%, and 27.1%, respectively. Revenue in North America was US$137.4 million, representing a decrease of 12.4% YoY.
- Net profit was US$28.8 million, representing a decrease of 12.6% YoY.
FINAL DIVIDEND
- The Board has resolved to declare a final dividend of HK$0.126 (inclusive of tax) per share for the year ended December 31, 2024.
KEY ACHIEVEMENTS
Confidence in Sisram's Core Platform Reaches an All-Time High reflected by remarkable market adoption of new products:
Alma Harmony™: An innovative, cutting-edge, multi-modal anti-aging platform designed to address multiple signs of aging across all skin types and diverse demographics. Following its record-breaking performance in the U.S. (H1 2024), Alma's new multiplatform was launched globally to unprecedented demand and better-than-expected market adoption, making it the most successful product launch in Sisram's history. The new platform also drives growth across the entire Harmony family.
Continuing its leadership in the hair removal segment, Alma launched the Special Edition of Soprano Titanium globally, supported by cross-territorial B2B and B2C campaigns. This new and improved flagship hair removal platform delivers 20% more energy while remaining virtually painless. According to Sapio Research, an independent global research agency, the new Soprano is the fastest hair removal treatment on the market compared to leading global laser hair removal brands.
The Company's quality management system has been successfully audited and found compliant with European MDR requirements, laying a solid foundation for the rapid launch of certified products in Europe and other CE-related countries, such as Korea, the UK, and Australia, in the future.
Advancing Integrative Solutions to Drive Profitable Growth
After several years of dedicated development, we are excited to introduce a groundbreaking diagnostic concept - Alma IQ™: A completely new intelligent skin analysis and consultation solution, offering a visually engaging, interactive, and automated experience while addressing patients' skin health concerns. The product was introduced to the North American market with immediate adoption and will be launched globally in 2025 as a key component of Sisram's synergetic offering, further strengthening the Company's product portfolio and competitive advantages.
In the injectables segment, we made continued efforts to grow and optimize our commercialization infrastructure. DAXXIFY® received NMPA approval, marking it as the first Daxibotulinumtoxin A botulinum toxin to be approved in mainland China. Designed to improve moderate to severe glabellar lines, it is set for launch in 2025, contributing to the Company's wellness ecosystem and long-term development.
Additionally, the Company entered into a partnership with Prollenium® to distribute the Revanesse® dermal filler collection in key markets. Revanesse®, which utilizes advanced hyaluronic acid technology, was successfully launched in the UK during the reporting period.
Moreover, Profhilo®, a next-generation hyaluronic acid injectable, received approval as a medical device from the Hainan Medical Products Administration in April 2024. It was also launched in Thailand, further enriching the Company's injectables portfolio and expanding its global market presence.
In addition, as part of expanding our injectables portfolio with innovative, high-end products, Sisram has partnered with Hallura® for the exclusive distribution of their first-of-its-kind combination of HA and bio-stimulator in strategic markets.
Strengthening Direct-Sales Presence and Operational Excellence
The Company established a direct sales office in Thailand in September 2024 and has been actively driving the rapid growth of its direct sales markets worldwide. As a result, the revenue contribution from direct sales reached a record high, contributing to a 1 percentage point increase in gross profit margin during the Reporting Period. This also strengthened the Company's market penetration and operational efficiency.
Driven by new product launches and accelerated market expansion, revenue from the North American market grew by 5.0% period-on-period in the second half of 2024, mitigating the impact of local economic conditions on customers' order cycles.
During the reporting period, the Company accelerated the integration of its investments in the Chinese market, laying a solid foundation for future growth. By enhancing its brands and channels through multiple dimensions—including team development, product portfolio expansion, brand positioning, and business growth—the Company has strengthened its competitive edge and market presence.
Strategy and Outlook
Sisram will continue to execute our strategy by extending the Company's global footprint, focusing on developing its direct-sales offices and supporting their growth milestones. The Company will seize opportunities from recently launched technologies, continue building the commercialization of upcoming product launches, and strengthen its high-end brand positioning. With North America and the Asia-Pacific regions as core strategic markets, the Company aims to drive sustained business growth and achieve global breakthroughs. Building on the strong momentum of its integrative solutions, Sisram will continue to drive growth through recent portfolio advancements, including Alma IQ™, its premium injectable offerings, and the highly anticipated launch of its skincare solutions in H1 2025.
To drive the rapid growth of its injectables product line, the Company will continue accelerating the launch of DAXXIFY® and streamline its commercialization process in mainland China. Sisram will also focus on promoting other injectable filler products in various markets, including Profhilo® in Thailand, Hallura® in Israel and Revanesse® in the UK to accelerate the development of the injectables line as Company's second core growth engine.
In addition, the Company continued to build the infrastructure for its highly-anticipated innovative skin-care concept, upcoming 2025 launch. Designed to complement in-clinic treatments, personalize formulations are tailored to each patient's unique skin profile and concerns. By integrating advanced, science-backed ingredients with a customizable approach, the new solution by Alma enhances treatment outcomes and extends the benefits of aesthetic care beyond the clinic.
Mr. Liu Yi, Chairman and Executive Director of Sisram, commented: "In 2025, our efforts will remain aligned with market needs and core strengths while enhancing the profitability of our core business. We will also focus our resources on accelerating the commercialization of key products and advancing the development of our injectables line. By combining advanced technologies with comprehensive solutions and tailored treatment experiences, we are committed to building a wellness ecosystem and elevating our products from standalone tools to integrated solutions—delivering more precise and holistic wellness experiences to consumers worldwide".
Mr. Lior Dayan, CEO of Sisram and Alma, said: "Sisram's growth in 2024 was driven by consistent expansion in international markets, with many of our key markets achieving double-digit growth①, fueled by the launch of our innovative new products that are redefining professional practice and patient care. Looking ahead to 2025, we are confident that our strategic approach, combined with our leadership in the EBD segment, will drive sustained growth and enable us to seize new opportunities for continued success in the years to come".
① Sisram delivered nearly 20% growth in the direct offices, outside North America. |
About Sisram Medical Ltd
Sisram Medical Ltd (1696.HK) is a global consumer wellness group, featuring a first-of-its-kind synergistic ecosystem of business building blocks and consumer-focused branding. The Company is majority-owned by Fosun Pharma, one of China's leading healthcare groups. Sisram Medical went public on the Main Board of the Hong Kong Exchange in September 2017.
Sisram Medical – Enhancing Quality of Life
SOURCE Sisram Medical Ltd
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