Futura Medical PLC (AIM:FUM, OTC:FAMDF) has reported full-year results ahead of market expectations, as demand for its flagship product, Eroxon, gathers pace across international markets.
The company now expects the topical erectile dysfunction treatment to be available in 20 countries by the end of 2025, marking a significant step in its global rollout.
For the year to December 31, revenue rose 349% to £13.9 million, and as forecast the group delivered a maiden annual pretax profit of £1.3 million.
The jump in earnings was driven by strong retail demand, a milestone payment from US partner Haleon, and an efficient cost base that leaves marketing to its distribution partners. Gross margins improved to 70%, up from 57% the year before.
The company began rolling out Eroxon across Europe, the Middle East and the Americas over the past year, with a high-profile US launch in October that triggered a $5 million payment.
So far, the product has reached over 15 markets. The initial response has been encouraging, particularly from retailers, with sell-in volumes suggesting there was significant unmet demand for alternatives to traditional oral ED treatments.
While some markets outside the US saw a slower retail ramp-up due to launch delays, Futura said feedback from early sales is helping fine-tune its marketing strategy.
The group said it remains on track for launches in at least five more countries by the end of this year, supported by manufacturing facilities in both Europe and the US.
Post-year-end developments have also reinforced Futura’s growth narrative. A recent home user study of a new product, Eroxon Intense, produced positive results, keeping the company on schedule for regulatory approval in the US and EU by year-end.
A similar evaluation for WSD4000, a topical treatment in development for female sexual dysfunction, also delivered positive results in January, with a follow-up pre-submission meeting with the US Food and Drug Administration now completed.
Futura ended the year with £6.6 million in cash, down slightly from £7.7 million, but said it remains well capitalised, with enough funding to carry it through to the second half of 2026 based on expected revenues and current spending levels.
CEO James Barder said: "With feedback from initial launches equipping us and our partners with tools for existing and future rollouts we look ahead with confidence, supported by an exciting new product development pipeline and healthy balance sheet."