Futura Medical PLC on Friday said it expects 2024 revenue and post-tax profit ahead of guidance, but warned of 2025 sales below market expectations, due to slow uptake in the US of its erectile dysfunction treatment.
The Guildford, Surrey-based sexual health products company estimated 2024 revenue of at least £13.7 million, multiplied from £3.1 million in 2023. Post-tax profit is expected to exceed market forecasts, which Futura cited as £500,000.
However, the company cautioned that 2025 revenue and profits will be ‘materially below’ current market expectations, due to the pace of US consumer uptake of Eroxon, Futura’s erectile dysfunction treatment.
The company now expects to make a loss in 2025, compared to previous market expectations of a £6.3 million post-tax profit on revenue of £18.5 million.
Futura launched Eroxon in the US in October 2024 through its commercial partner Haleon PLC, triggering a $5 million payment. While early retailer uptake and launch execution were strong, barriers to purchase - such as lockboxes in stores that require staff assistance - have hurt sales.
Futura said Haleon is adjusting its marketing approach to include targeted TV campaigns, in an effort to boost sales.
Chief Executive James Barder said: ‘Whilst it has been slower than anticipated to generate consumer awareness, and resulting sales, in a completely new product in a new consumer market that naturally has some stigma attached to it, we, and our partners, remain confident in the future prospects for Eroxon.’
Eroxon is now available in 15 countries across the Americas, Middle East, and Europe, with plans to expand to 20 countries by the end of 2025.
Beyond Eroxon, Futura is advancing Eroxon Intense, a stronger-sensation variant, expected to receive marketing authorisation by the end of 2025.
Futura said its balance sheet remains ‘robust’, with £6.6 million in cash as of December 31, providing working capital through to the second half of 2026.
Futura expects to report its full-year results in April 2025.
Shares in Futura Medical were up 3.0% at 17.00 pence in London on Friday morning.
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