Oneview Reports €13.8m Cash, 23% Rise in Contracted Beds in Q4 2024

Financial Position and Capital Raise

Oneview Healthcare PLC closed the final quarter of 2024 with a healthy cash balance of €13.8 million (approximately A$23.2 million), underpinned by a successful capital raise. The company secured A$20 million in gross proceeds through a placement of CHESS Depositary Interests (CDIs) to institutional and sophisticated investors in November, followed by an oversubscribed Security Purchase Plan (SPP) that raised an additional A$3 million in December. These efforts collectively injected around €13.3 million (A$22 million) into the balance sheet, providing a solid financial foundation to support Oneview’s growth initiatives and operational needs.

Operating Cash Flow and Cost Dynamics

Despite the capital influx, Oneview experienced a net operating cash outflow of €4.1 million during Q4 2024, a notable increase from €0.1 million outflow in the same period last year. This was largely attributed to the timing of customer receipts, with two substantial payments exceeding €2 million arriving in early January 2025. Additionally, product manufacturing and operating expenses rose, partly due to a €386,000 payment for expedited delivery of OEM hardware from a US supplier manufacturing in China. This strategic move aimed to mitigate risks associated with potential tariff changes and delivery delays. Marginal increases in staff and administrative costs also reflected the company’s efforts to resource new contract fulfilments and the expanding Baxter pipeline.

Growth in Contracted Beds and Sales Pipeline

Oneview’s operational momentum is evident in its 23% growth in contracted beds during 2024, rising from 15,821 to 19,429. Live beds similarly increased by 23%, reaching 12,514, surpassing the mid-year forecast by 7%. This growth is fueled by both direct sales and the extended partnership with Baxter International, which was renewed for two more years until June 2027. The partnership continues to gain traction, with Oneview securing purchase orders from three new customers via Baxter and one direct new logo in the quarter, highlighting the expanding commercial pipeline.

Customer Deployments and Product Innovation

During Q4, Oneview advanced several key deployments, including ongoing rollouts at Inova Health under a Master Services Agreement and a new project at the Children’s Hospital of Orange County featuring the MyStay Mobile product integrated with in-room televisions. A 235-bed deployment was completed at Mercy Ardmore in Oklahoma, part of a broader Mercy Health System rollout. Incremental expansions also occurred at UCSF, NYU, and the University of Miami health systems. However, 2024 revenues were somewhat impacted by project postponements linked to corporate activities and construction delays, notably at the Children’s Hospital Ireland.

Outlook and Strategic Positioning

CEO James Fitter expressed confidence in Oneview’s market position, emphasizing the company’s unique combination of product innovation, scalability, and financial strength. He highlighted the company’s readiness to capitalize on the growing commercial momentum through both direct sales and the Baxter channel in 2025. The recent capital raise not only fortifies the balance sheet but also funds critical growth initiatives, including AI strategy development and internal tooling enhancements aimed at more efficient large-scale deployments.