Paris, July 21, 2020, 5:45 pm CEST – EOS imaging (Euronext, FR0011191766 – EOSI – PEA-PME eligible), a leader in 2D/3D orthopedic medical imaging and software solutions for 3D anatomical modeling and surgical planning, today announces preliminary consolidated revenues for the half year ending June 30, 2020.
SECOND QUARTER & FIRST SEMESTER 2020 HIGHLIGHTS
- H1 2020 revenues of €11.0m (+84%), thanks to increased equipment sales and continued maintenance revenue momentum
- €4.8m in revenues resulting from the billing of 12 systems in H1 2020, including 10 in Q2 2020, vs. €0.8m in H1 2019 (which had been impacted by the implementation of a new commercial cycle)
- €6.2m in recurring revenues, up +19% compared with H1 2019, thanks to the continued growth in maintenance activity (+24%)
- EOSedgeTM, the next generation of EOS imaging equipment, represents 60% of H1 2020 equipment orders, and drives the improvement in average selling prices
- Recurring revenues up 19% compared to H1 2019 driven by an increasing install base and high subscription rate of customers purchasing service agreements
- The health crisis associated with COVID-19 impacts Q2 2020 equipment orders:€5.0m of equipment orders booked in H1 2020, vs. €12.8m in H1 2019, a decrease associated with the COVID-19 pandemic
- Order book of €13.7m at June 30, 2020 vs. €14.4m at December 31, 2019
- Cash position of €9.9m at June 30, 2020 vs. €8.2m at December 31, 2019
- Growing adoption of EOSedge™ and first installation in Germany
- Newly published best practice guidelines for bracing Adolescent Idiopathic Scoliosis (AIS) support EOS
Mike Lobinsky, CEO of EOS imaging, comments: “The first half of 2020 was marked by the COVID-19 outbreak which has temporarily impacted the Company’s momentum. Nevertheless, we are pleased with the restart of system installations in Q2 and the strong interest and adoption of our new EOSedge system which represents 86% of half-yearly orders in the countries where it is registered. The growth in maintenance revenues fuels our recurring business which we continue to develop. Finally, our global sales pipeline continued to grow and mature in the first half of 2020 with benefits expected in quarters to come. We remain bullish on EOS being well positioned to accelerate growth once the health crisis recedes.”
SOURCE: EOS Imaging
Read the full article: https://www.eos-imaging.com