Nemaura Medical Inc. (NMRD): Business Model Canvas [Dec-2025 Updated]

You're looking to cut through the noise and see exactly how Nemaura Medical Inc. plans to make money with its non-invasive glucose monitoring tech, and after two decades analyzing med-tech, I can tell you the blueprint is fascinatingly complex. We're talking about a company balancing high Research and Development costs-approximately $1.5 million in FY 2023-with a push for global commercialization through licensing and B2B deals, aiming for a modest Q3 2025 revenue forecast of about $500K. This canvas breaks down the tightrope walk between securing that crucial FDA PMA approval and scaling up disposable sensor manufacturing, so you can see the exact partnerships and revenue streams that will determine if their needle-free vision becomes a financial reality.

Nemaura Medical Inc. (NMRD) - Canvas Business Model: Key Partnerships

You're looking at how Nemaura Medical Inc. builds its commercial reach through external relationships, which is crucial when you're commercializing a device like sugarBEAT® and proBEAT™.

The Key Partnerships block centers on leveraging specialized external capabilities for manufacturing, distribution, and clinical validation. For instance, the company relies on a manufacturing partner, Nemaura Pharma, which is controlled by the CEO, Dr. D.F.H. Chowdhury, to scale-up production of the sugarBEAT® components and handle final assembly and packaging, all governed by ISO13485 quality standards. This outsourcing keeps the internal structure lean; Nemaura Medical Inc. reports having only 8 employees as of a recent snapshot.

Commercialization relies heavily on licensing and distribution agreements to penetrate global markets, especially considering the target markets' scale-the global Type 2 diabetes market was projected near $59 billion by 2025.

The structure of these external relationships can be mapped out:

• Licensee Agreements for Global Commercialization: The agreement with MySugarWatch DuoPack Limited (MSW-DP) grants them global rights for sugarBEAT® devices and sensors, specifically to be provided as duo packs with prescription medicines for Type 2 diabetes.
• Telehealth Provider Integration: A collaboration exists with telehealth provider HealthFleet Inc., which integrates Nemaura's proBEAT technology into its RestoreHealth program. Nemaura Medical Inc. announced receiving a first purchase order from HealthFleet in January 2023.
• Clinical and Academic Guidance: The company secures high-level expertise through its advisory board, which includes Dr. Osama Hamdy, M.D., Ph.D., a senior endocrinologist at the Joslin Diabetes Center and an associate professor of medicine at Harvard Medical School, who advises on diabetes and metabolic health studies.
• Manufacturing and Supply Chain: Outsourced service providers and engineers supplement the internal team, working alongside the manufacturing partner, Nemaura Pharma, to manage the qualification strategy across multiple sites for seamless scale-up.

The financial commitment and scale of these early agreements provide some concrete figures, though they are historical:

It's important to note that while the outline mentions a strategic licensing with Healthimation, LLC for the Why Wait digital health app, public filings reviewed did not contain specific financial or operational details regarding this particular partnership as of the latest available reports. The proBEAT™ offering itself combines non-invasive glucose data with artificial intelligence under a digital healthcare subscription service.

The company's historical financial position included $26.8M in cash on hand as of Q2 2021, which supported these early commercialization and development activities. Anyway, the focus remains on securing more commercial agreements globally, as Nemaura Medical Inc. stated they were in detailed discussions with several other parties for licensing or joint venture agreements.

Nemaura Medical Inc. (NMRD) - Canvas Business Model: Key Activities

You're looking at the core engine driving Nemaura Medical Inc.'s strategy right now, which is all about pushing the technology through regulatory hurdles and scaling up production. These are the five main things the team must execute on to move from development to broad commercial success.

Continuous R&D for Non-Invasive Sensor Technology and Biomarker Expansion

Research and development spending in the fiscal year ended March 31, 2023, totaled approximately $1.5 million. This investment supports the core technology, which operates in the non-invasive blood glucose monitoring system market projected to reach $2 billion in 2025. The R&D focus isn't just glucose; the company is actively investigating the extension of its non-invasive sensor platform to measure additional biomarkers, specifically lactate and alcohol levels. That's how you build a platform, not just a single product.

Navigating Regulatory Approval Processes

The biggest gatekeeper for the US market is the FDA Pre-Market Approval (PMA) for sugarBEAT. The application for sugarBEAT®, specifically for its generation II, 24-hour sensor, was submitted to the U.S. FDA in July 2020 and is currently in review. For context on the technology's validation, sugarBEAT achieved CE mark approval in May 2019. The company has submitted a proposal for a Modular PMA, which suggests a phased approach to gaining full approval.

Here are the key regulatory milestones:

• CE Mark Approval Received: May 2019
• FDA PMA Submission Date: July 2020
• Device Generation Under Review: Generation II (24-hour sensor)
• Current Status: PMA application under review

Scaling Up Manufacturing and Supply Chain Logistics

Getting the disposable sensors ready for mass market requires solid manufacturing partnerships. As of the fiscal year ended March 31, 2023, Nemaura Medical was working with Benchmark Electronics Inc as a contract manufacturing partner (CMO) at its FDA-approved facility located in Thailand. This setup is key for the anticipated commercial sales ramp-up. To gauge early demand signaling, the company received a provisional purchase order for 1.7 million sensors from its licensee TPMENA in anticipation of product registration in the KSA around that time.

The manufacturing and supply chain focus can be summarized by these commitments:

Developing and Refining AI-driven Digital Health and Personalized Coaching Programs

The hardware is only half the story; the software drives engagement. The proBEAT offering combines the non-invasive glucose data with artificial intelligence processing under a digital healthcare subscription service. This ties directly into clinical validation efforts. Initial patient data from the UK NHS Miboko Study, reported for the fiscal year ended March 31, 2023, showed weight loss in 100% of participants, which supports marketing claims for the wellness programs. The company also launched a beta trial of Miboko, a metabolic health and well-being program.

Securing New B2B Distribution and Commercialization Agreements Globally

Commercialization is heavily reliant on partnerships to penetrate large markets. The company sits at the intersection of the global Type 2 diabetes market, expected to hit nearly $59 billion by 2025, and the $50+ billion pre-diabetic market. For US distribution, a preliminary agreement with Eversana was signed to support the planned commercial launch of its Diabetes and Metabolic Health programs. On the international side, commercial agreements were signed back in 2018 with TPMENA for the Gulf Cooperation Council (GCC) and Al-Danah Medical for Qatar. You need these agreements to access the patient base.

Key market context and agreements:

• Global Type 2 Diabetes Market Projection (2025): $59 billion
• Pre-Diabetic Market Valuation: $50+ billion
• US Commercial Support Partner: Eversana (preliminary agreement)
• GCC Commercial Agreement Signed: 2018 (with TPMENA)

Finance: draft 13-week cash view by Friday.

Nemaura Medical Inc. (NMRD) - Canvas Business Model: Key Resources

You're looking at the core assets Nemaura Medical Inc. (NMRD) relies on to operate its business model, which centers on non-invasive glucose monitoring. Honestly, the value here is heavily weighted toward regulatory status and proprietary tech, not necessarily massive financial scale as of the latest reports.

Proprietary non-invasive transdermal sensor technology (sugarBEAT)

The physical asset is the sugarBEAT sensor itself, a Class IIb medical device that uses a mild, non-perceptible electric current to extract glucose from the skin for measurement. This sensor is designed for a wear period that has been approved for up to 14 hours in certain regions.

The digital extension, proBEAT, leverages this data. As of early 2023, a partnership with HealthFleet involved a purchase order for 75,000 proBEAT glucose sensors over an initial five-month period, valued at $500,000 in expected revenue.

Intellectual Property (IP) portfolio covering the mild electric current glucose extraction method

The protection around the core technology is a definite key resource. While the most recent specific count is older, Nemaura Medical built an extensive intellectual property portfolio, which included over 30 patents to support its non-invasive measurement methods.

Here's a quick look at the market context these IP assets are targeting, based on projections from around the time of the latest filings:

Regulatory approvals: CE Mark (Europe) and SFDA approval (Saudi Arabia)

Regulatory clearance is a hard asset that unlocks specific markets. Nemaura Medical Inc. has secured key approvals for sugarBEAT, which is critical for commercialization outside of the US general wellness market.

• CE Mark approval for sugarBEAT as a Class IIb medical device.
• SFDA (Saudi Food and Drug Authority) approval for sugarBEAT.
• The SFDA approval specifically covers a wear period of 14 hours.

Digital health platforms and AI algorithms for glucose data processing (proBEAT)

The proBEAT platform is the AI-driven digital health component, often commercialized as a general wellness product in the US, combining the sensor data with a subscription service. Nemaura Medical also launched a beta trial for Miboko, a metabolic health program, suggesting an expanding digital asset base.

The company's overall market capitalization, as of May 2024, was reported at $1.01M, with approximately 40.35M shares outstanding as of late 2024.

Key personnel in medical engineering, regulatory affairs, and diabetes research

The team's expertise, particularly in navigating complex regulatory pathways like the US FDA submission, is a non-tangible but vital resource. Dr. Faz Chowdhury serves as the CEO.

The size of the operational team is a resource indicator. As of the latest general reporting, the employee count for Nemaura Medical Inc. was listed in the range of 11-50 Employees.

Nemaura Medical Inc. (NMRD) - Canvas Business Model: Value Propositions

You're looking at the core reasons why a customer would choose Nemaura Medical Inc. (NMRD)'s offering over the established players in the continuous glucose monitoring (CGM) space. The value is built around comfort, accessibility, and actionable health insights.

Non-invasive, Needle-Free CGM for Comfort and Adherence

The primary draw here is the complete elimination of the needle stick. Nemaura Medical Inc. (NMRD)'s sugarBEAT system uses a proprietary, mild electric current to extract interstitial fluid through micro-pores in the skin, which is a significant departure from invasive sensors. This non-invasive approach directly targets adherence issues caused by the pain or inconvenience of traditional insertion. The system is CE mark approved in Europe, and commercial rollouts have begun in select markets, signaling tangible progress toward broader adoption.

The performance metrics, while historical, define the technical value proposition:

Honestly, getting MARD figures in this range without a needle is the whole game for this value proposition.

Affordable and Flexible Daily-Wear CGM System

Nemaura Medical Inc. (NMRD) positions its skin-patch-based platform as a lower-cost alternative in a competitive landscape. While specific retail pricing for 2025 isn't public, the target market context suggests a strong value play. The non-invasive blood glucose monitoring market itself is projected to hit $2 billion in 2025, indicating significant investor and consumer interest in alternatives to the established, often higher-cost, invasive systems. The company operates at the intersection of several massive markets:

• Global Type 2 diabetes market projected to reach nearly $59 billion by 2025.
• Pre-diabetic market valued at $50+ billion.
• Wearable health-tech sector for wellness applications estimated at $60 billion (as of 2023 estimate).

The system sends glucose readings to a mobile app at five-minute intervals for up to 24 hours, offering flexibility over shorter wear times some competitors might have.

Actionable, Real-Time Glucose Insights for Metabolic Health Users

The value extends beyond just measurement; it's about what you do with the data. Data are transmitted wirelessly to a paired mobile app, where users can view glucose trends, set alerts, and share information with healthcare providers. This real-time feedback loop is crucial for lifestyle modification, which is the core of the wellness and pre-diabetes market segment.

Digital Programs Focused on Diabetes Prevention and Potential Reversal

Nemaura Medical Inc. (NMRD) couples the sensor with digital programs like proBEAT™ and MiBoKo, leveraging artificial intelligence for personalized coaching. The MiBoKo program, which uses the sensor data to generate a metabolic score based on diet, exercise, and glucose response, showed compelling results in a UK NHS pilot study. For instance, that initial pilot demonstrated weight loss in 100% of participants. Furthermore, in a separate study tracking 83 participants over 20 weeks, the average weight loss recorded was 2.9KG (6.3 pounds), with 21 participants losing over 5KG (11 pounds). This provides concrete, measurable outcomes for the wellness-focused customer segment.

Potential Platform Extension to Monitor Other Biomarkers

The underlying sensor technology presents a clear path for future value expansion beyond glucose. Nemaura Medical Inc. (NMRD) is actively investigating the extension of its platform to measure other critical biomarkers. Specifically, the company is looking at lactate and alcohol levels. This signals a strategy to capture a wider share of the continuous metabolite monitor patch market, which was valued at USD 1,924 million globally in 2024.

Nemaura Medical Inc. (NMRD) - Canvas Business Model: Customer Relationships

You're looking at how Nemaura Medical Inc. (NMRD) connects with its users and partners as of late 2025. Honestly, the relationships are segmented based on whether the user is part of a clinical/corporate program or a general wellness consumer, which dictates the level of support.

Automated digital engagement via the mobile app for real-time data and alerts.

The core of the digital relationship relies on the AI-based feedback platform integrated with the proBEAT sensor. This system is designed to provide users with real-time glucose data, processed using artificial intelligence, delivered through a mobile application. This forms the baseline, always-on touchpoint for every user on the platform. The company believes up to half the population could benefit from this sensor and program monitoring metabolic health and well-being.

Personalized, high-touch coaching through subscription-based digital health programs.

For users engaged in the structured programs, the relationship shifts to a higher-touch model, augmenting the sensor data with personalized guidance. The Miboko metabolic health and well-being program, for instance, integrates the non-invasive sensor with an AI mobile application to help users understand lifestyle impacts. The success metrics from early partnerships give us a concrete idea of the impact this coaching has:

• Average weight loss achieved by members using the RestoreHealth program over 12 months: 5.1%.
• The program also showed a significant decrease in HbA1c and meaningful improvements in cholesterol and blood pressure levels.

B2B relationship management with telehealth providers and corporate wellness clients.

Nemaura Medical Inc. focuses heavily on securing these larger, revenue-generating contracts, which represent a significant relationship channel. The initial U.S. partnership with HealthFleet Inc. serves as a key example of this B2B engagement model. Here are the specifics from that initial agreement:

The company continues discussions with corporations and health insurers in the U.S., aiming to convert these pilots into revenue-generating contracts. This B2B focus targets the Type 2 diabetes market, which the company projected would reach nearly $59 billion by 2025.

Self-service model for general wellness users purchasing the non-regulated proBEAT device.

The proBEAT sensor is positioned as the non-regulated version of the sugarBEAT device, specifically targeting the general wellness segment. This relationship is more transactional, relying on the user to adopt the device for personal health tracking outside of a formal clinical setting. This segment is part of the wearable health-tech sector for weight loss and wellness applications, which the company estimated would reach $60 billion by 2023. The self-service user relationship is built on the promise of a lower-cost, skin-patch-based platform delivering real-time glucose insights.

Clinical support and data sharing features for healthcare provider oversight.

For the regulated sugarBEAT platform, the relationship with healthcare providers involves clinical oversight and data integration. Nemaura Medical Inc. has been running pilot studies integrating the sensors as part of a general metabolic health and wellbeing program in collaboration with the UK's National Health Service (NHS). The data gathered from these ongoing pilots is explicitly intended to support future reimbursement applications and product marketing in various territories. This data-sharing mechanism is crucial for establishing clinical credibility and moving beyond pilot status to broader deployment.

Finance: draft 13-week cash view by Friday.

Nemaura Medical Inc. (NMRD) - Canvas Business Model: Channels

You're looking at how Nemaura Medical Inc. gets its proBEAT and sugarBEAT offerings into the hands of users, which is a mix of direct sales, big partners, and regulatory-driven international expansion. Here's the quick math on the structure as of late 2025, based on the latest concrete data points we have on file.

Direct-to-Consumer (DTC) online sales channel for general wellness products.

Nemaura Medical Inc. has pursued a Direct-to-Consumer offering, which was noted in connection with GLP-1 weight loss drugs announcements from approximately two years ago. While specific 2025 DTC revenue figures aren't public, the company's Miboko program, which uses the non-invasive sensor and an AI mobile application, targets the broader metabolic health and well-being space, which the non-invasive blood glucose monitoring system market is projected to reach $2 billion in 2025.

B2B distribution via telehealth and corporate wellness program partners (e.g., HealthFleet).

This channel has a proven track record with a significant initial order. The partnership with HealthFleet, a U.S.-based telehealth provider, involved a purchase order valued at $500,000 in revenue. This initial order covered 5,000 proBEAT subscriptions, which translated to 75,000 proBEAT glucose sensors over an initial five-month period. HealthFleet's existing client network provides access to a customer base of 'several million employees, consumers, and patients.'

Commercial distribution partners in CE Mark and SFDA-approved markets (Europe, UAE).

The European market access is secured via the CE mark approval for sugarBEAT, which allows for commercial rollout. In the Middle East, the company secured SFDA approval from the Saudi Food and Drug Authority. A provisional purchase order from TPMENA in that region was for 1.7 million sensors and 17,000 devices. Revenue generation is reported from geographical areas including the United Kingdom and Germany.

Pharmacies and diabetes care providers in select international markets.

Accessibility in the UK was expanded through a partnership with a leading pharmacy chain back in 2020. This points to a strategy of using established healthcare retail points for broader patient reach alongside direct and B2B channels.

Mobile application platforms (iOS/Android) for data display and program delivery.

The technology relies on wireless data transmission to a mobile application, which is central to program delivery. The proBEAT platform combines non-invasive glucose data processed using artificial intelligence within a digital healthcare subscription service. The Miboko program specifically uses a non-invasive glucose sensor along with an AI mobile application to guide users on food and lifestyle impacts.

Here's a summary of the channel activity metrics we can confirm:

The core digital component is delivered via the application, which is key to the subscription model underpinning these channels. The company is pursuing U.S. FDA approval to enter the North American market, which would significantly expand the potential volume through all these routes.

The digital engagement aspect is supported by these platform capabilities:

• Transmits data wirelessly to a mobile application.
• Displays glucose readings at five-minute intervals for up to 24 hours.
• Provides wellness guidance notes and education via proBEAT.
• AI processing for metabolic health insights.

Finance: draft 13-week cash view by Friday.

Nemaura Medical Inc. (NMRD) - Canvas Business Model: Customer Segments

You're looking at Nemaura Medical Inc. (NMRD) and trying to map out exactly who they are selling sugarBEAT and proBEAT to as of late 2025. Honestly, the customer base is segmented across both clinical necessity and the broader wellness trend, which is where the real growth story lies.

Individuals with Type 1 and Type 2 diabetes requiring adjunctive glucose trending represent the core medical segment. Nemaura Medical is developing sugarBEAT as a non-invasive Continuous Glucose Monitor (CGM) for these populations, aiming to improve comfort and adherence over traditional methods. Historically, a key study showed a mix of 20 persons with Type 1 diabetes and 80 persons with Type 2 diabetes in a 100-patient cohort, indicating the larger immediate pool is Type 2. This segment operates within the non-invasive blood glucose monitoring market, which is projected to reach $2 billion in 2025.

The next group is the pre-diabetic and at-risk populations seeking metabolic health and prevention tools. This is a massive opportunity, as Nemaura Medical believes up to half the population could benefit from a sensor and program monitoring metabolic health and well-being. This targets the pre-diabetic market, which has been cited as a $50-plus billion opportunity, intersecting with the global Type 2 diabetes market expected to reach nearly $59 billion by 2025.

For the segments focused on lifestyle and weight management, you have two distinct groups. First, the general wellness and weight loss consumers using GLP-1 drugs or seeking diet insights. Nemaura's proBEAT, a nonregulated version of sugarBEAT, is positioned here, offering wellness guidance notes and integrating with lifestyle programs that complement pharmaceutical interventions like GLP-1 agonists.

Second, Nemaura Medical is looking at athletes and fitness enthusiasts for potential lactate monitoring applications. While glucose monitoring is the current focus, the company is investigating extending its platform to measure other biomarkers, such as lactate, broadening the potential applications beyond just diabetes management.

Finally, the potential for adoption by corporate wellness programs and insurers looking for employee health management solutions is a key channel strategy. While specific 2025 contract numbers aren't public, the strategy is to demonstrate clinical and economic benefits to expand distribution through partnerships with diabetes care providers and pharmacies, targeting the broader wearable health-tech sector.

Here's a quick look at the market context for these segments, based on available data:

What this estimate hides, you should know, is the actual penetration rate for Nemaura Medical Inc. (NMRD) itself; as of May 2024, the market cap was only $1.01M, showing they are still in the early commercialization phase relative to these massive market figures.

• Individuals with Type 1 and Type 2 diabetes.
• Pre-diabetic and at-risk populations.
• Wellness programs and insurers.
• GLP-1 users seeking diet insights.
• Potential lactate monitoring users.

Finance: draft 13-week cash view by Friday.

Nemaura Medical Inc. (NMRD) - Canvas Business Model: Cost Structure

You're looking at the hard costs Nemaura Medical Inc. faces to keep the sugarBEAT platform moving from development to commercial scale. It's a mix of heavy upfront investment in science and ongoing costs for manufacturing and market access. Here's the quick math on where the money goes, based on the latest reported figures and forward-looking regulatory costs.

High Research and Development (R&D) expenses

Research and Development expenses are a significant drain, reflecting the need to refine the technology and support ongoing regulatory submissions. For the fiscal year ended March 31, 2023, Nemaura Medical Inc. reported R&D expenses of approximately $1,538,615. Management had anticipated that spending in this area would remain reasonably consistent in the fiscal year following that report.

Manufacturing costs for the disposable sugarBEAT sensors and rechargeable transmitters

The cost structure includes scaling production for both the disposable sensors and the rechargeable transmitters. Nemaura Medical Inc. outsources manufacturing, working with a partner, Nemaura Pharma, to scale up component manufacturing and final assembly in the UK. Additionally, the electronic transmitter manufacturing is supported by a contract manufacturing partner, Benchmark Electronics Inc., at their facility in Thailand, which is FDA approved.

While specific unit costs for Nemaura Medical Inc. aren't public, the operational setup involves significant commitment to contract manufacturing agreements:

Sales, General, and Administrative (SG&A) costs to support global commercialization efforts

Supporting commercialization, especially in the EU where CE mark approval is secured, drives up the General and Administrative portion of operating expenses. For the three months ended June 30, 2023, Nemaura Medical Inc. reported General and Administrative expenses of $1,508,467. These costs cover the infrastructure needed to support sales, distribution, and general corporate functions.

Significant regulatory compliance and clinical trial costs (e.g., FDA PMA process)

Navigating the U.S. Food and Drug Administration (FDA) Premarket Approval (PMA) process is a major, non-recurring, but substantial cost center. Nemaura Medical Inc. submitted its PMA application in July 2020. Based on the FDA User Fees for Fiscal Year 2026 (effective October 1, 2025), the costs associated with maintaining this regulatory status or filing future submissions are concrete figures you must budget for:

• Standard FDA PMA Application Fee (FY 2026): $579,272
• Small Business Fee for PMA Application (FY 2026): $144,818
• Annual Fee for Periodic Reporting on a Class III device (PMA) (FY 2026): $20,275 (Standard) or $5,069 (Small Business)

If Nemaura Medical Inc. qualifies for the Small Business Determination (SBD) program, they may be eligible for a waiver on the first PMA application fee, but the annual reporting fees are still a recurring compliance cost.

Marketing and customer acquisition costs for the subscription-based digital programs

The digital programs, like proBEAT™, which combine glucose data with AI processing under a subscription service, involve customer acquisition costs. An initial purchase order from HealthFleet Inc. gives us a view into the value exchange for these programs. This order involved 5,000 proBEAT subscriptions, covering 75,000 glucose sensors over five months, and was valued at $500,000 in revenue.

This suggests that the cost structure must absorb the expense of the disposable sensors within the subscription price, plus the ongoing costs of maintaining the digital platform and coaching services. The total market for wellness applications using this technology was estimated to reach $60 billion by 2023, showing the scale of potential marketing spend required to capture share.

Finance: draft 13-week cash view by Friday.

Nemaura Medical Inc. (NMRD) - Canvas Business Model: Revenue Streams

You're looking at the core ways Nemaura Medical Inc. (NMRD) brings in cash right now, late in 2025. It's a mix, as you'd expect from a MedTech firm transitioning from development to scale, heavily reliant on product sales and digital service adoption.

The most immediate, concrete financial data point for the near term is the forecast. Honestly, the quarterly revenue picture is still quite lean, reflecting the early commercialization stage. For the third quarter of 2025, the revenue forecast sits around $500K.

The primary engine for the business model is the sale of the sugarBEAT system hardware. This involves two components:

• Sales of the rechargeable transmitter.
• Sales of the disposable sensors.

Beyond the hardware, the recurring revenue component is key, tied to the digital health and coaching services. This is where the long-term value is built, assuming high patient engagement. These streams include:

• Subscription revenue from the proBEAT digital health and coaching services.
• Subscription revenue from the MiBoKo digital health and coaching services.

We also look for larger, less frequent revenue injections from strategic agreements. This covers licensing fees and milestone payments that come from commercial distribution partners as they hit certain targets or secure regional approvals. These are lumpy but important for cash flow.

To give you a snapshot of the B2B side, which can provide significant upfront revenue, you should remember the initial HealthFleet order. This was a firm commitment, valued at $500,000 in revenue, announced back in January 2023. That initial order covered 75,000 proBEAT glucose sensors over a five-month period, showing the potential volume tied to a single partner contract.

Here's a quick look at how these revenue components fit into the overall structure, based on the company's stated model:

The company generates revenue primarily from the direct sales of the sugarBEAT system, which includes the sensors and transceivers, aimed at diabetes and pre-diabetes management. Also, revenue is recognized through partnerships with distributors and healthcare providers who integrate sugarBEAT into their service offerings. The focus on digital platforms, like proBEAT, is intended to capture recurring revenue alongside the disposable sensor sales.

Finance: draft 13-week cash view by Friday.