- Solid growth in Product sales: +22%
- Positive momentum for Service sales: +12%
- Further very buoyant growth in China (+44%), good sales momentum in France (+17%)
SuperSonic Imagine (Euronext: SSI, FR0010526814, PEA-PME eligible) (Paris:SSI), the highly-innovative ultrasound company, today announces its revenue for the 1st quarter of 2019.
Michèle Lesieur, CEO of SuperSonic Imagine's Board comments: "I am delighted that SuperSonic Imagine has seen a return to a strong growth dynamic, reflecting our new platform's potential. Following a transitional year in 2018, the launch of Aixplorer Mach 30 is proving to be a success. In China, where our platform is not yet commercialized, sales continue to grow, the EMEA zone is reflecting the excellent welcome enjoyed by our new platform, and demonstrations in the United States have revealed clinicians' substantial interest in our Aixplorer MACH 30. These very good results strengthen our conviction that we will meet our annual objectives of recording solid revenue growth driven by the gradual deployment of Aixplorer MACH 30 on our target markets and breaking even in terms of EBITDA in 2019
|In thousands of euros unaudited||2019||2018||Change|
|% of total revenue||85%||84%|
|% of total revenue||15%||16%|
Following the launch of Aixplorer Mach 30 in the final quarter of 2018 and the first demonstrations in the regions where we have already obtained regulatory approval, SuperSonic Imagine recorded very solid revenue growth of +20% compared with the first quarter of 2018, to €6.0 million. At constant currency, growth was +16%.
This strong increase was a result of the Product and Service sales momentum, with the former growing by +22% (+17% at constant currency) and the latter by +12% (+9% at constant currency). First quarter sales benefited from the excellent performance recorded in China (+44%), which accounted for 45% of SuperSonic Imagine's quarterly revenue, and the very rapid commercial ramp up of Aixplorer Mach 30 in Europe, where sales were up by +37%.
More specifically on its key markets, China is continuing its very buoyant growth with revenue totaling €2.7 million in the first quarter of 2019, an increase of +44% compared with the same quarter of 2018.
With quarterly revenue of €0.92 million, France recorded a +17% increase in revenue. The delivery of eleven Aixplorer Mach 30 platforms to the Institut de Radiologie de Paris illustrates the excellent reception the medical community has given to the new platform, and bodes well for the Company's 2019 prospects.
The situation was more contrasted in the United States, where quarterly revenue decreased by 27% to €0.51 million. In this country, the launch of Aixplorer Mach 30 only began in December 2018 with its presentation during the Radiological Society of North America (RSNA) Scientific Assembly and Annual Meeting, the leading global forum in Radiology; the first demonstrations to clients were therefore essentially organized during the first quarter of 2019. However, just like in Europe, the new platform has been extremely well received, making us very confident regarding Aixplorer Mach 30 sales in 2019.
Next financial press release: H1 2019 revenue, on July 17, 2019
About SuperSonic Imagine
SuperSonic Imagine is a medical technology company (Medtech) specialized in ultrasound imaging. The company designs, develops and markets an ultrasound platform whose exclusive ultrafast technology (UltraFast) has given rise to new imaging methods, which have now become standards in the non-invasive care path for the characterization of breast, liver or prostate diseases. The first innovative mode UltraFast is ShearWave elastography (SWE), which allows doctors to instantly visualize and analyze tissue hardness, which is critical information for the diagnosis of many pathologies. To date, more than 600 publications have validated the benefits of its technologies. The latest addition to the Aixplorer range, Aixplorer MACH 30 introduces a new generation of imaging UltraFast allowing the optimization of all innovative imaging modes: ShearWave PLUS, UltraFast Doppler, Angio PL.U.S, TriVu. With more than 2,300 ultrasound platforms installed worldwide, SuperSonic Imagine is present in more than 80 countries and its main markets are China, the United States and France. In 2018, the company generated revenues of €24.6 million. SuperSonic Imagine is a company listed on Euronext (symbol: SSI).
For more information, visit www.supersonicimagine.fr.
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