- Improvement of financial result through lower cost base and increased revenues
- Focus towards expansion of US sales force
- Continued progress of 510(k)-process for great toe implant
"I am pleased to present a quarterly report in which we seriously demonstrate that our measures positively impact the income statement. In the third quarter, we improved our result by SEK 4.9m compared to the corresponding quarter last year, and we now see that our cost-saving initiatives are yielding results. With increased revenues, we have good opportunities to continue to step into the commercial phase, now also financially. Our US business is in its infancy, but we see the right tendencies in the US, and in recent weeks, we have trained more salespeople in the US than we have done in 10 years in Europe. All our key metrics, such as number of customers, revenue per customer, pricing, and number of implant systems sold improved during the quarter, and we now need to continue that path", says Pål Ryfors, CEO Episurf Medical.
Third quarter 2024 compared to 2023, Group
» Gross order intake amounted to SEK 3.7m (2.5)
» Group net sales amounted to SEK 3.4m (2.6)
» Order book amounted to SEK 3.1m (2.3)
» Loss for the period amounted to SEK -15.9m (-20.8)
» Earnings per share amounted to SEK -0.02 (-0.07)
First nine months 2024 compared to 2023, Group
» Gross order intake amounted to SEK 9.9m (8.2)
» Group net sales amounted to SEK 9.6m (7.4)
» Loss for the period amounted to SEK -57.9m (-72.9)
» Earnings per share amounted to SEK -0.13 (-0.23)
Significant events during the third quarter
» Update on 510(k) application for big toe implant
» Niles Noblitt, through Sacajo Investments LLC, made investment in Episurf through an arrangement with CEO Pål Ryfors
» Episealer® technology was presented at international scientific congress
Significant events during previous quarters 2024
» Results from up to 10 years follow-up of Episealer® patients were accepted for presentation
» Episurf Medical has carried out a rights issue which incl. issue guarantees were subscribed to 75.0% and the company received SEK 90m before issue costs
» Episurf Medical has entered into four distribution agreements with exclusive distributors of DePuy Synthes, the orthopaedic arm of the Johnson & Johnson Group, for several US states
Significant events after the third quarter
» No material events have occurred after the end of the period
For more information, please contact:
Pål Ryfors, CEO, Episurf Medical
Tel:+46 (0) 709 62 36 69
Email: pal.ryfors@episurf.com
Veronica Wallin, CFO, Episurf Medical
Tel:+46 (0) 700 37 48 95
Email: veronica.wallin@episurf.com
About Episurf Medical
Episurf Medical is endeavoring to bring people with painful joint injuries a more active, healthier life through the availability of minimally invasive and individualised treatment alternatives. Episurf Medical's Episealer® individualised implants and Epiguide® surgical drill guides are developed for treating localised cartilage injury in joints. Episurf Medical's µiFidelity® system enables implants to be cost-efficiently tailored to each individual's unique injury for the optimal fit and minimal intervention. Episurf Medical's head office is in Stockholm, Sweden. Its share (EPIS B) is listed on Nasdaq Stockholm. For more information, go to the company's website: www.episurf.com.
The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CEST on 25 October 2024.
