SpineGuard Reports Third-quarter 2022 Revenue
Q3 revenue growth of +44% at € 1.5 M (vs. 2021 Q3)
PARIS & BOULDER, Colo., October 04, 2022--(BUSINESS WIRE)--Regulatory News:
SpineGuard (FR0011464452 – ALSGD), an innovative company that deploys its DSG® (Dynamic Surgical Guidance) sensing technology to secure and streamline the placement of bone implants, announced today that its revenue was € 1.5 M in the third quarter up 44% and € 4.0 M YTD up 24%.
Pierre JEROME, Chairman, CEO and Co-founder of SpineGuard, said: "SpineGuard’s sales growth continues to accelerate in Q3 thanks to our strategic partnerships, with Omnia Medical in adult spinal surgery, with WishBone Medical in pediatric orthopedics and with ConfiDent in dental implantology. This momentum is also driven by the recent FDA clearance for the use of our PediGuard device in anterior surgery, by a large tender won in Saudi Arabia and by the global pre-launch of our DSG Connect interface. Close to 400 procedures have already been performed by forty surgeons across the globe with this new digital platform. We will be officially launching it next week in Chicago at the occasion of the NASS (North American Spine Society) congress and the week after at the Eurospine in Milan. Our innovation pipeline is extremely promising too. It will enable us to fuel this strong commercial activity and initiate other partnerships."
€ thousands – IFRS
Year to Date 9 Months
SpineGuard’s consolidated revenue increased 44% as reported and 29% in constant currency (cc) in Q3 compared to last year. Outside the USA, the revenue increased by 42% compared to the third quarter of 2021 while in the USA, the increase was 46% (+24 cc).
Over the first 9 months of the financial year, revenue increased 26% outside the Unites States and +23% in the USA (9% cc) and 24% globally (13% cc) to € 4,022 K compared to € 3,250 K for the same period in 2021. 4,209 DSG equipped units were sold in the first nine months of 2022 (1,983 in the USA, 47% of total units sold) compared with 3,898 in the first nine months of 2021.
SpineGuard is focusing on the following priorities while investing selectively to remain close to breakeven:
Boost commercial activities with the launch of the DSG-Connect visual interface and the partnership with WishBone Medical
Deploy the DSG digital technology in the surgical robotic field
Develop a Smart Universal Drill (SUD) embedding the DSG artificial intelligence
Support ConfiDent with the design and scale-up of the DSG dental applications
Implement the agreement recently signed with Omnia Medical
Sign other strategic partnerships
Webinar in French on November 10, 2022, at 10:30 am CET
SpineGuard’s management invites its shareholders to attend a webinar to discuss Company news, update on its business partnerships, the ramp-up of its commercial activity and its product innovations as well as than its prospects. Register here
Founded in 2009 in France and the USA by Pierre Jérôme and Stéphane Bette, SpineGuard is an innovative company deploying its proprietary radiation-free real time sensing technology DSG® (Dynamic Surgical Guidance) to secure and streamline the placement of implants in the skeleton. SpineGuard designs, develops and markets medical devices that have been used in over 90,000 surgical procedures worldwide. Nineteen studies published in peer-reviewed scientific journals have demonstrated the multiple benefits DSG® offers to patients, surgeons, surgical staff and hospitals. Building on these strong fundamentals and several strategic partnerships, SpineGuard has expanded the scope of its DSG® technology in innovative applications such as the « smart » pedicle screw, the DSG Connect visualization and registration interface, dental implantology and surgical robotics. DSG® was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, Biomedical Engineer. SpineGuard has engaged in multiple ESG initiatives.
For further information, visit www.spineguard.com
The SpineGuard securities may not be offered or sold in the United States as they have not been and will not be registered under the Securities Act or any United States state securities laws, and SpineGuard does not intend to make a public offer of its securities in the United States. This is an announcement and not a prospectus, and the information contained herein does and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in the United States in which such offer, solicitation or sale would be unlawful prior to registration or exemption from registration.
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