SpineGuard Announces its Q3 2023 Revenue

Regulatory News:

SpineGuard (FR0011464452 – ALSGD), an innovative company that deploys its DSG (Dynamic Surgical Guidance) sensing technology to secure and streamline the placement of bone implants, announced today its third quarter 2023 revenue.

Pierre Jérôme, Co-founder, Chairman and CEO of SpineGuard, said: “Despite our revenue decline in the last 6 months, this quarter marks the rebound of SpineGuard sales in the United States with a sequential growth of 19% over the second quarter. The newly set-up American commercial team is ramping-up with focus on bolstering our agent network and promoting the recently launched products, PediGuard Threaded and DSG Connect, which have been significantly contributing to the steady increase of our product sales over the last ten quarters or so in the rest of the world, +26% year-to-date. In parallel, we are finalizing the development of three new products that we plan to introduce on the market within the next twelve months in order to swiftly get back to double digit global growth and continue to expand the application scope of our DSG technology."

Q3 2023 revenue

€ thousands – IFRS (Unaudited)	2023	2022	Variance
First Quarter	1,271	1,131	+12%
Second Quarter	963	1,415	-32%
Third Quarter	978	1,476	-34%
Year-To-Date 9 months	3,211	4,022	-20%

SpineGuard’s consolidated revenue decreased by -34% in Q3 2023 compared to Q3 2022. In the United States, the revenue of the third quarter 2023 decreased by 29% in USD, to $ 728K from $ 1,020K. This is mainly due to the low level of orders from SpineGuard’s main American distributor, which is experiencing its own financial and governance difficulties. However, a recovery in business has been observed under the impetus of the renewed American team. The third-quarter sales are up by 19% to $ 728K vs. $ 610K in the second quarter.