PARIS & SAN FRANCISCO–(BUSINESS WIRE)–Regulatory News:
SpineGuard (Paris:ALSGD) (FR0011464452 – ALSGD), an innovative company that designs, develops, and markets disposable medical devices intended to make spine surgery safer, announced today that its 9 months revenue grew to €6.0 million, a 13% increase compared with the same period in 2016.
Stéphane Bette, CEO and co-founder of SpineGuard, said: ‘Our Q3 performance in the USA was very strong. We grew 23% vs. prior year in constant currency despite the devastation in Florida, one of our most important local markets. Internationally, we have promising prospects that should allow us to turn the situation around by the end of the year. Of note, our initial distribution partnership in China could have a positive impact in this financial year. In general, we are very confident about our ability to deliver continuous growth and reach our goal of operational profitability by the end of 2018.’
| € thousands – IFRS | 2017 | 2016 | Variance | |||
| First Quarter | 2 169 | 1 760 | +23% | |||
| Second Quarter | 2 030 | 1 873 | +8% | |||
| Half-Year | 4 199 | 3 633 | +16% | |||
| Third Quarter | 1 793 | 1 678 | +7% | |||
| Year to Date 9 Months | 5 992 | 5 311 | +13% |
Unaudited
Global revenue in the third quarter of 2017 increased 7% to €1,793k, compared with €1,678k in the third quarter of 2016. In the USA, the increase was 17% as reported and 23% cc.
For the 9 months, global revenue increased 13% to €5,992k, compared with € 5,311k in the first nine months of 2016. The growth in the United States was 18% at both actual exchange rate and cc.
6,056 DSG units were sold in the first nine months of 2017 (3,818 in the USA, 63% of total units sold) compared with 6,324 (3,581 in the USA) in the first nine months of 2016.
Next financial press release: 2017 full year revenue, January 4, 2018
About SpineGuard®
Founded in 2009 in France and the USA, by Pierre Jérôme and Stéphane Bette, SpineGuard’s mission is to make spine surgery safer by bringing real-time digital technology into the operating room. Its primary objective is to establish its proprietary DSG™ (Dynamic Surgical Guidance) technology as the global standard of surgical care, starting with safer screw placement in spine surgery and then in other surgeries. PediGuard®, the first device designed using DSG, was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, Biomedical Engineer. It is the world’s first and only handheld device capable of alerting surgeons to potential pedicular or vertebral breaches. Over 55,000 surgical procedures have been performed worldwide with DSG™ enabled devices. Numerous studies published in peer-reviewed medical and scientific journals have demonstrated the multiple benefits that PediGuard® delivers to patients, surgical staff and hospitals. SpineGuard is expanding the scope of its DSG™ platform through strategic partnerships with innovative medical device companies and the development of smart instruments and implants. SpineGuard has offices in San Francisco and Paris. For further information, visit www.spineguard.com.
Disclaimer
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.