{"id":30490,"date":"2024-10-11T12:00:00","date_gmt":"2024-10-11T12:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/4528920_CN28920_0"},"modified":"2024-10-11T12:00:00","modified_gmt":"2024-10-11T12:00:00","slug":"baird-medical-announces-preliminary-financial-results-for-the-six-months-ended-june-30-2024","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=30490","title":{"rendered":"Baird Medical Announces Preliminary Financial Results for the Six Months Ended June 30, 2024"},"content":{"rendered":"<div id=\"dvContent\" readability=\"119.93358591487\">\n<p class=\"prntac\"><i>Total revenues increased to <span class=\"xn-money\">US$13.1 million<\/span>, representing 13.8% year-over-year growth<\/i><br \/><i>Net income reached <span class=\"xn-money\">US$4.4 million<\/span>, representing 85.8% year-over-year growth<\/i><\/p>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">GUANGZHOU, China<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Oct. 11, 2024<\/span><\/span> \/PRNewswire\/ &#8212;&nbsp;Baird Medical Investment Holdings Ltd. (NASDAQ: BDMD) (&#8220;Baird Medical&#8221; or the &#8220;Company&#8221;), a leading microwave ablation (&#8220;MWA&#8221;) medical device developer and provider in&nbsp;China&nbsp;which has recently expanded into the U.S. market following its receipt of US FDA 510(k) clearances, today announced its preliminary financial results&nbsp;for the six months ended <span class=\"xn-chron\">June 30, 2024<\/span> (the &#8220;First Half of 2024&#8221;).<\/p>\n<p><b><u>First Half of 2024 Financial Highlights<\/u><\/b><\/p>\n<ul type=\"disc\">\n<li>Total revenues reached <span class=\"xn-money\">US$13.1 million<\/span>, representing an increase of 13.8% from <span class=\"xn-money\">US$11.5 million<\/span> in the same period of 2023.<\/li>\n<li>Gross profit increased by 20.9% to <span class=\"xn-money\">US$11.5 million<\/span> from <span class=\"xn-money\">US$9.5 million<\/span> in the first half of 2023.<\/li>\n<li>Operating income was <span class=\"xn-money\">US$5.1 million<\/span>, representing an increase of 70.0% from <span class=\"xn-money\">US$3.0 million<\/span> in the same period of 2023.<\/li>\n<li>Net income increased by 85.8% to <span class=\"xn-money\">US$4.4 million<\/span> from <span class=\"xn-money\">US$2.4 million<\/span> in the first half of 2023.<\/li>\n<\/ul>\n<p>Ms. Haimei Wu, Founder and CEO of Baird Medical, commented, &#8220;Our preliminary results for the first half of 2024 reflect the continued strength of our core business in <span class=\"xn-location\">China<\/span> and the initial traction we&#8217;re gaining in the U.S. market. With our recent FDA clearances, we are optimistic about expanding our reach in <span class=\"xn-location\">the United States<\/span>, where our minimally invasive microwave ablation technology offers a promising alternative to traditional thyroidectomy for patients with benign thyroid tumors. Given that approximately 150,000 thyroidectomies are performed annually in the U.S., we believe there&#8217;s a substantial opportunity to improve patient outcomes and reduce healthcare costs. As we move forward, we remain committed to innovation and expanding access to our technology, while maintaining a disciplined approach to growth and operational efficiency.&#8221;<\/p>\n<p><b>Recent Developments<br \/><\/b>On <span class=\"xn-chron\">October 1, 2024<\/span>, the Company announced the completion of its previously announced business combination (the &#8220;Business Combination&#8221;) with&nbsp;ExcelFin Acquisition Corp. The listed company resulting from the Business Combination is Baird Medical Investment Holdings Limited, and its shares and warrants commenced trading on the Nasdaq under the ticker symbols &#8220;BDMD&#8221; and &#8220;BDMDW&#8221;, respectively, on <span class=\"xn-chron\">October 2, 2024<\/span>.<\/p>\n<p><b>About Baird Medical<br \/><\/b>Established in 2012 and headquartered in&nbsp;Guangzhou, <span class=\"xn-location\">China<\/span>, Baird Medical is a leading microwave ablation (&#8220;MWA&#8221;) medical device manufacturer and provider in&nbsp;China&nbsp;and a recent entrant to&nbsp;the United States&nbsp;market. Baird Medical&#8217;s proprietary medical devices are used for the treatment of benign and malignant tumors including thyroid nodules, liver cancer, lung nodules and breast lumps. Baird Medical is the first company to obtain a Class III medical devices registration certificate for MWA medical devices specifically indicated for thyroid nodules in&nbsp;China. For more information, please visit&nbsp;<a href=\"http:\/\/www.bairdmed.com\/\" target=\"_blank\" rel=\"nofollow noopener\">http:\/\/www.bairdmed.com\/<\/a>.<\/p>\n<p><b>Forward-Looking Statements<br \/><\/b>This communication contains &#8220;forward-looking statements.&#8221; Such statements include statements concerning anticipated future events and expectations that are not historical facts. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Forward-looking statements are typically identified by words such as &#8220;believe&#8221;, &#8220;expect&#8221;, &#8220;anticipate&#8221;, &#8220;intend&#8221;, &#8220;target&#8221;, &#8220;estimate&#8221;, &#8220;continue&#8221;, &#8220;positions&#8221;, &#8220;plan&#8221;, &#8220;predict&#8221;, &#8220;project&#8221;, &#8220;forecast&#8221;, &#8220;guidance&#8221;, &#8220;goal&#8221;, &#8220;objective&#8221;, &#8220;prospects&#8221;, &#8220;possible&#8221; or &#8220;potential&#8221; by future conditional verbs such as &#8220;assume&#8221;, &#8220;will&#8221;, &#8220;would&#8221;, &#8220;should&#8221;, &#8220;could&#8221; or &#8220;may&#8221; or by variations of such words or by similar expressions or the negative thereof. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Baird Medical does not assume any obligation to publicly update any forward-looking statement after it is made, whether as a result of new information, future events or otherwise, except as required by law.<\/p>\n<p><b>Contacts<\/b><br \/>Investor Relations<br \/><span class=\"xn-person\">Robin Yang<\/span>, Partner<br \/>ICR, LLC<br \/>Phone: +1 (646) 308-1475<br \/>Email:&nbsp;<a href=\"mailto:BairdMedical.IR@icrinc.com\" target=\"_blank\" rel=\"nofollow noopener\">BairdMedical.IR@icrinc.com<\/a><\/p>\n<p>Public Relations<br \/><span class=\"xn-person\">Brad Burgess<\/span>, Senior Vice President<br \/>ICR, LLC<br \/>Phone: +1 (646) 588-0383<br \/>Email:&nbsp;<a href=\"mailto:BairdMedical.PR@icrinc.com\" target=\"_blank\" rel=\"nofollow noopener\">BairdMedical.PR@icrinc.com<\/a><\/p>\n<\/p><\/div>\n<p>Source: Baird Medical Investment Holdings Ltd.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Total revenues increased to US$13.1 million, representing 13.8% year-over-year growthNet income reached US$4.4 million, representing 85.8% year-over-year growth GUANGZHOU, China, Oct. 11, 2024 \/PRNewswire\/ &#8212;&nbsp;Baird Medical Investment Holdings Ltd. (NASDAQ: BDMD) (&#8220;Baird Medical&#8221; or the &#8220;Company&#8221;), a leading microwave ablation (&#8220;MWA&#8221;) medical device developer and provider in&nbsp;China&nbsp;which has recently expanded into the U.S. market following [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-30490","post","type-post","status-publish","format-standard","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Baird Medical Announces Preliminary Financial Results for the Six Months Ended June 30, 2024 - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=30490\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Baird Medical Announces Preliminary Financial Results for the Six Months Ended June 30, 2024 - My Blog\" \/>\n<meta property=\"og:description\" content=\"Total revenues increased to US$13.1 million, representing 13.8% year-over-year growthNet income reached US$4.4 million, representing 85.8% year-over-year growth GUANGZHOU, China, Oct. 11, 2024 \/PRNewswire\/ &#8212;&nbsp;Baird Medical Investment Holdings Ltd. (NASDAQ: BDMD) (&#8220;Baird Medical&#8221; or the &#8220;Company&#8221;), a leading microwave ablation (&#8220;MWA&#8221;) medical device developer and provider in&nbsp;China&nbsp;which has recently expanded into the U.S. market following [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/transmediavictoria.net.au\/?p=30490\" \/>\n<meta property=\"og:site_name\" content=\"My Blog\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-11T12:00:00+00:00\" \/>\n<meta name=\"author\" content=\"admin_tony\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin_tony\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=30490#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=30490\"},\"author\":{\"name\":\"admin_tony\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#\\\/schema\\\/person\\\/5b51d407d652c0aa802bea269ea5d7e7\"},\"headline\":\"Baird Medical Announces Preliminary Financial Results for the Six Months Ended June 30, 2024\",\"datePublished\":\"2024-10-11T12:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=30490\"},\"wordCount\":651,\"articleSection\":[\"Business News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=30490\",\"url\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=30490\",\"name\":\"Baird Medical Announces Preliminary Financial Results for the Six Months Ended June 30, 2024 - My Blog\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#website\"},\"datePublished\":\"2024-10-11T12:00:00+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#\\\/schema\\\/person\\\/5b51d407d652c0aa802bea269ea5d7e7\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=30490#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=30490\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=30490#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/transmediavictoria.net.au\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Baird Medical Announces Preliminary Financial Results for the Six Months Ended June 30, 2024\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#website\",\"url\":\"https:\\\/\\\/transmediavictoria.net.au\\\/\",\"name\":\"My Blog\",\"description\":\"My WordPress Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#\\\/schema\\\/person\\\/5b51d407d652c0aa802bea269ea5d7e7\",\"name\":\"admin_tony\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/102836fe5f9cd6c64e96e90e7341dbc815b7d12726a85708326dc0db40afd906?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/102836fe5f9cd6c64e96e90e7341dbc815b7d12726a85708326dc0db40afd906?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/102836fe5f9cd6c64e96e90e7341dbc815b7d12726a85708326dc0db40afd906?s=96&d=mm&r=g\",\"caption\":\"admin_tony\"},\"url\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?author=8\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Baird Medical Announces Preliminary Financial Results for the Six Months Ended June 30, 2024 - My Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/transmediavictoria.net.au\/?p=30490","og_locale":"en_US","og_type":"article","og_title":"Baird Medical Announces Preliminary Financial Results for the Six Months Ended June 30, 2024 - My Blog","og_description":"Total revenues increased to US$13.1 million, representing 13.8% year-over-year growthNet income reached US$4.4 million, representing 85.8% year-over-year growth GUANGZHOU, China, Oct. 11, 2024 \/PRNewswire\/ &#8212;&nbsp;Baird Medical Investment Holdings Ltd. 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