OBSERVE MEDICAL ASA: årsregnskap 2024 vs 2023
Grew 53% on revenue, weaker earnings, cash halved-plus
approved 2025-05-29; registry 2025-08-11; journal 2025 701454
Summary
What changed
Comparing Årsregnskap 2024 with 2023 for OBSERVE MEDICAL ASA. Revenue 2.59m NOK → 3.97m NOK (+53.4%). Net result -27.58m NOK → -194.22m NOK. Equity 355.3k NOK → 7.95m NOK.
On the constructive side: revenue rose; operating result improved; equity strengthened. Pressures included: net result weakened; cash fell; current ratio dropped below 1×.
Also worth watching: thin equity buffer; sharp cash drawdown; paid-in equity reduced. All figures are taken from the published annual accounts for OBSERVE MEDICAL ASA.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 2.59m NOK to 3.97m NOK (+53.4% YoY). Calculated
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Operating result improved
Operating result -19.12m NOK → -14.62m NOK (op. margin -738.1% → -367.8%). Calculated
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Equity strengthened
Book equity 355.3k NOK → 7.95m NOK (equity ratio 76.1% → 8.1%). Calculated
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Payroll decreased
Salary cost 9.00m NOK → 8.90m NOK (348% → 224% of revenue). Calculated
What deteriorated
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↓
Net result weakened
Net result -27.58m NOK → -194.22m NOK (net margin -1064.4% → -4887.2%). Calculated
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Cash fell
Bank deposits 12.30m NOK → 843.0k NOK (-93.1% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.41× → 0.31× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Thin equity buffer
Equity ratio is 8.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Sharp cash drawdown
Cash fell by more than 60% YoY (12.30m NOK → 843.0k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Paid-in equity reduced
Paid-in equity fell 381.05m NOK → 417.0k NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS moved
COGS / varekostnad 73.0k NOK → 15.41m NOK (+21008.2% YoY). Calculated
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Book investments changed
Investment / intangible book value 451.2k NOK → 94.78m NOK. Reported fact