- Hamilton Thorne (HTL) released record revenue for the fourth quarter and year ended December 31, 2021
- The company achieved record annual sales of $52.3M despite the Covid driven challenges
- The company recorded a record fourth quarter with $15.6M sales and $2.9M adjusted EBITDA
- Hamilton provides precision instruments, consumables, software and services to the Assisted Reproductive Technologies, research, and cell biology markets
- Hamilton Thorne (HTL) opened the trade 3 per cent up at $2.08
Hamilton Thorne (HTL) has reported record revenue for the fourth quarter and year ended December 31, 2021.
The company achieved annual sales of $52.3M despite the Covid driven challenges. The company noted ~50 per cent gross margin for the year. While annual adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) increased 47 per cent to a record $9.7M. Hamilton Thorne also recorded a record fourth quarter with $15.6M sales and $2.9M adjusted EBITDA.
The company navigated supply chain issues and continued to invest in sales and support resources, R&D, and enhancing the operations. It envisions to take better advantage of the cross-selling and marketing synergies between the North American and European-based businesses.
“We also completed a significant expansion of our product line, geographic coverage, and scale when we acquired Tek-Event in April and IVFtech in July, expanding our direct sales footprint into Australia and the Nordic countries”. commented David Wolf, President and Chief Executive Officer of Hamilton Thorne.
Despite significant investments in inventory to address supply chain issues, the company generated ~$5M of cash from operations for the year. The company ended the year with $17.8M cash on hand and $12.5M under existing lines of credit to further support its acquisition program.
Optimistic outlook
Hamilton Thorne continues to be optimistic about the revenue performance, as demand and growth return to pre-pandemic levels. Meanwhile, the company foresees the possibility for Q-o-Q variability amid supply chain issues and inflationary pressures.
Hamilton provides precision instruments, consumables, software and services to the Assisted Reproductive Technologies, research, and cell biology markets.
Hamilton Thorne (HTL) opened trading at $2.08 per share.