- First-half revenue up +23% to €7.1 million
- Operating income improved by 13%
Regulatory News:
IMPLANET (Euronext Growth: ALIMP, FR0013470168, eligible for PEA-PME), a medical technology company specializing in implants for orthopedic surgery and in the distribution of advanced medical equipment, today announces its results for the first half of the current financial year, ended June 30, 2026, as approved by the Board of Directors on September 15, 2026.
Ludovic Lastennet, IMPLANET's Chief Executive Officer, stated: "The sustained growth in our business during the first half of the year was accompanied by a significant improvement in our operating performance. The 7-point increase in our gross margin rate, to 59.5%, enabled us to reduce our operating loss by 13%, despite the acceleration of our commercial investments. These investments support the rollout of JSS, the development of our business in the United States and, more broadly, the gradual expansion of our product offering through our partnership with Sanyou Medical. We intend to maintain this momentum in the coming months, combining commercial development, disciplined management of our cost structure and a gradual improvement in our profitability profile."
Simplified Income Statement (in thousands IFRS) | H1 2026(1) | H1 2025(1) | Change |
Revenue | 7,135 | 5,809 | +23% |
Cost of goods sold | -2,893 | -2,756 | 5% |
Gross margin | 4,242 | 3,052 | 39% |
Gross margin % | 59.5% | 52.5% | +7.0 points |
Operating Costs | -6,110 | -5,195 | 18% |
Operating profit/loss | -1,868 | -2,143 | -13%(2) |
Financial result | -271 | 48 | n.a |
Income Tax | -2 | n.a | |
Net results | -2,140 | -2,097 | 2% |
(1) | Unaudited figures | |
(2) | Decrease in losses between H1 2026 and H1 2025 |
Revenue
The Company generated revenue of €7.13 million in the first half of 2026, compared with €5.81 million in the same period in 2025. This 23% increase (representing €1.33 million) over the first six months of 2026 confirms the growth momentum recorded in previous periods, marking eight consecutive quarters of growth.
The Spine Implants business generated revenue of €4.81 million in the first half of 2026, compared with €3.99 million in the first half of 2025, driven notably by the very strong performance of the new JSS hybrid posterior fixation system, with associated sales doubling over the period.
The Company continued the rollout of its medical equipment distribution business, notably with the SMTP ultrasonic scalpel. Revenue from this business amounted to €2.31 million in the first half of 2026, representing an increase of 27% compared with €1.82 million in the same period of the previous year.
All geographic regions recorded growth in the first half of 2026 compared with the same period of the previous year, driven primarily by the very strong performance of the new JSS hybrid posterior fixation system. Revenue in France increased by 13% to €2.62 million over the period. In the United States, revenue also increased by 54% to €2.44 million. Export sales in the Rest of the World amounted to €2.07 million in the first half of 2026, representing an increase of 9%.
Gross Margin and Operating Result
Gross profit amounted to €4.24 million in the first half of 2026, compared with €3.05 million in the same period in 2025, representing an increase of 39%. The balanced growth across the Group's two businesses, Spine Implants, with the new JSS hybrid posterior fixation system, and Medical Equipment (SMTP), together with the strong growth of the Group's business in the United States, had a positive impact on the gross margin, which reached 59.5% in the first half of 2026, compared with 52.5% in the first half of 2025.
Following the initial success of the commercial launch of the innovative Jazz Spinal System hybrid posterior fixation system, combining the expertise of IMPLANET's and Sanyou Medical's R&D teams, as well as the continued rollout of the Olea ultrasonic scalpel, the Company accelerated its investment in sales and marketing, which increased by €1.10 million compared with the first half of 2025, while maintaining strict control over its other structural costs. As a result, operating expenses increased from €5.20 million in the first half of 2025 to €6.10 million in the first half of 2026.
Consequently, the operating loss decreased by 13%, amounting to €(1.87) million in the first half of 2026, compared with €(2.14) million in the first half of 2025.
Taking into account these various factors and the financial result, mainly consisting of a foreign exchange loss, the net loss amounted to €2.14 million in the first half of 2026, compared with €2.10 million in the first half of 2025.
Cash Position
As of June 30, 2026, the Company had a cash position of €1.01 million.
Based on projected cash consumption under its current business assumptions, anticipated commercial developments for fiscal years 2026 and 2027, and the payment facilities granted by the Sanyou Medical Group, the Company believes it is able to cover its operating funding requirements for the next twelve months.
Strategy and Outlook for 2026
- Strengthening the Company's presence in the United States:
- Reinforce commercial resources available to the existing team through the recruitment of an experienced sales force;
- Implement the necessary tools to accelerate the rollout of JAZZ and products co-developed with Sanyou Medical;
- Strengthen the Company's direct approach by expanding its scientific team of key opinion leaders.
- Deploying all product ranges across strategic geographies:
- Ensure the commercial rollout of JSS and other Sanyou Medical product lines in France, the United States and internationally;
- Expand the distribution of the JAZZ platform in China (the world's largest spine market by volume) with Sanyou Medical.
- Enhancing market momentum and product offering:
- Position Implanet as the exclusive distributor in Europe and the United States of Sanyou Medical Group's surgical assistance technologies and those of its partners;
- Launch the SMTP Quntas range (ultrasonic scalpels with aspiration), marking the brand's entry into surgical revision and tumor surgery markets;
- Position IMPLANET as a partner to surgeons and healthcare institutions in the fields of artificial intelligence, cobotics and robotics tailored to its implants.
- Complete the registration of existing products under the European Medical Device Regulation (MDR) and the FDA 510(k) process.
Availability of the 2026 half-year financial report
IMPLANET will make its 2026 Half-Year Financial Report available to the public and file it with the Financial Markets Authority today.
Next Financial Release
- Q3 2026 Results, October 13, 2026, after market close.
About IMPLANET
IMPLANET is a medical technology company that manufactures high-end implants for orthopedic surgery and distributes advanced medical equipment (SMTP and robotics). Its business is built around an innovative solution designed to improve the treatment of spinal pathologies (JAZZ) and the Jazz Spinal System hybrid fixation system, characterized by a comprehensive pedicle screw solution co-developed with Shanghai Sanyou Medical Co., Ltd ("Sanyou Medical") under the technological partnership entered into in November 2022. These product lines are complemented by the ranges offered by Orthopaedic Spine Development (OSD), acquired in May 2021 (thoraco-lumbar screws, cages and cervical plates). IMPLANET's orthopedic platform is notably based on full product traceability. Protected by four families of international patents, JAZZ has received 510(k) regulatory clearance from the U.S. Food and Drug Administration (FDA), CE marking, ANVISA approval in Brazil, and CFDA approval in China. In 2022, IMPLANET entered into a commercial, technological and financial partnership with SANYOU MEDICAL, the second-largest Chinese manufacturer of medical devices. IMPLANET employs 46 people and generated consolidated revenue of €12.5 million in 2025. Based near Bordeaux, France, IMPLANET has operated a U.S. subsidiary in Boston since 2013. IMPLANET is listed on the Euronext Growth market in Paris.
For more information, please visit www.Implanet.com.
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Contacts:
IMPLANET
Ludovic Lastennet, CEO
David Dieumegard, CFO
Tél.: +33 (0)5 57 99 55 55
investors@implanet.com
NewCap
Investor Relations
Mathilde Bohin
Tél.: +33( 0)1 44 71 94 94
implanet@newcap.eu
NewCap
Media Relations
Arthur Rouillé
Tél.: +33 (0)1 44 71 94 94
implanet@newcap.eu
