SpineGuard Announces Its Full-Year 2023 Financial Results and Its First Quarter 2024 Sales - Seite 2

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Pierre Jérôme, co-founder, Chairman and CEO of SpineGuard, said: “Our return to global sales growth in the first quarter of 2024 validates the choice we made to strengthen our US commercial infrastructure and invest in R&D to develop three new products embedding our DSG sensor: the Threaded PediGuard adapted to the correction of scoliosis via anterior approach, the Cannulated PediGuard designed for sacroiliac fusion and the DSG Drill Bit compatible with power drills and surgical navigation in the spine. This significant financial effort to address clearly identified and quickly actionable opportunities, explains the decrease of our net result in 2023. We are building our financial strategy around our unique real time surgical guidance technology, its broad spectrum of applications and its clinical relevance now backed by more than 100,000 surgeries secured and 34 articles published in peer-reviewed scientific journals. Our growth will most likely accelerate in the coming quarters driven by the gradual introduction of these three new products, the impact of our new sales organization as well as our fruitful collaboration with Omnia Medical in the United States and XinRong in China. In parallel, we are in discussions with other potential strategic partners in particular to deploy DSG in dental implantology and surgical robotics.”

2023 EBITDA impacted by the strengthening of US investment and innovation

As announced in January 2024, 2023 sales amounted to €4,313 K, down -23% at actual exchange rate and -21% cc compared with 2022.

6,138 DSG units were sold in 2023 vs. 5,934 in 2022, representing overall growth of +3%, which confirms the global momentum for DSG technology despite the one-off drop in sales in the United States, with 2,120 units sold in 2023, representing 35% of all units sold.

In the United States, full-year 2023 sales fell by -29% to €2,678 K from €3,785 K in 2022, due to the discontinuation of WishBone Medical's business, related to financial difficulties of its own, which had exclusive distribution of SpineGuard products in US pediatric orthopedic hospitals. Nevertheless, the new US team put in place by SpineGuard in fiscal 2023 has gradually taken over direct distribution since November. This is reflected in sales, which have grown sequentially over the last three quarters (on the date of publication of this press release).