Median posts Q1 results, reports net loss for 2023

France-based Median Technologies recently posted financial results for the first quarter of the 2024 fiscal year, which ended March 31.

The company reported that revenue for the quarter was 5.4 million euros ($5.8 million), comparable to the same quarter in 2023. Median's revenue is achieved entirely by the iCRO1 business, which delivers services to the global biopharmaceutical industry for image management in oncology clinical trials.

Median said that first-quarter revenues were affected by the postponement of some studies to the second quarter of 2024 due to late patient recruitment.

Additionally, the company reported that for the full 2023 fiscal year, net loss reached 23 million euros ($24.7 million). This was impacted by slow order intake in China during the second half of 2022 and the first half of 2023, for a total of 22.2 euros ($23.8 million), a year-on-year decline of 6.7%.

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