Mayne Pharma Group (ASX: $MYX) 1HFY24 Operational and Financial Highlights

Mayne Pharma Group (ASX: $MYX) has reported a strong performance in the 1HFY24, achieving 4 out of 5 FY24 goals. The reported revenue of $188m reflects a robust performance in the US Women's Health and Dermatology segments. The company also achieved a positive underlying EBITDA of $8.0m, marking a significant improvement from the previous period. Mayne Pharma closed the period with a cash balance of $146.8m, despite a cash outflow of $73.3m, demonstrating a strong financial position.

Executive Commentary

The company's CEO, Shawn Patrick O'Brien, highlighted the achievement of 4 out of 5 FY24 goals, emphasizing the positive direct contribution in all three segments and the optimization of the cost base with OPEX reductions. He also noted the achievement of a positive underlying EBITDA of $8.0m in the 1HFY24, signifying a substantial improvement from the previous period. O'Brien expressed confidence in the company's continued progress towards positive operating cash flow and its ability to deliver growth in the upcoming period.

Summary of 1HFY24 Results and Outlook

Mayne Pharma Group (ASX: $MYX) has delivered a strong performance in the 1HFY24, achieving 4 out of 5 FY24 goals, including positive direct contribution in all segments and cost base optimization. The company's reported revenue of $188m reflects a robust performance in the US Women's Health and Dermatology segments. With a positive underlying EBITDA of $8.0m and a closing cash balance of $146.8m, Mayne Pharma is well-positioned for continued growth. The outlook for the 2HFY24 includes expectations of revenue and earnings growth, driven by continued expansion across all segments and the transition of the unique prescriber patient fulfillment process from pilot to fully scaled operation. Mayne Pharma remains focused on delivering positive operating cash flow from continuing operations and maintaining its strong financial discipline.