Implanet Announces 1st Quarter 2019 Revenue of €1.9 Million

Regulatory News:

IMPLANET (Paris:ALIMP) (OTCQX:IMPZY) (Euronext Growth: ALIMP, FR0010458729, eligible for PEA-PME; OTCQX: IMPZY), a medical technology company specializing in vertebral and knee surgery implants today announced its revenue for the first quarter of 2019.

€ ‘000s – IFRS*

  Q1 2019   Q1 2018   Change Spine (JAZZ)   1,129   1,050   8% Knee   775   817   -5% Total revenue   1,904   1,867   2%

*Unaudited figures

Ludovic Lastennet, Implanet’s CEO, commented: “The beginning of 2019 has marked a turning point: revenue growth relative to 2018, a significant increase in the volume of JAZZ sold, the signature of the contract with SeaSpine, Inc., a wholly owned subsidiary of SeaSpine Holdings Corporation (NASDAQ: SPNE) and the receipt of the first order for knee implants in Australia, to be delivered in the 3^rd quarter. Our financial situation has also stabilized: while continuing to manage costs with rigorous discipline, the financing line we have recently signed ensures that we have sufficient cash for the coming year. We will therefore be able to concentrate on our operating performance, the development of our business in priority markets and the deployment of partnerships with KICO Knee and SeaSpine, Inc. which represent sources of future growth.”

In the first quarter of 2019, Implanet recorded revenue of €1.90 million, an increase of 2% (from €1.87 million in Q1 2018). Sales of the JAZZ range increased by 8% to €1.13 million (from €1.0 million in Q1 2018). The Knee business line saw revenue decline by 5% to €0.77 million, affected by export sales, while France, which represented 92% of revenue, remained stable.

Sales of the JAZZ range in the USA increased to €0.50 million (up 5%), with 484 units sold (up 14%), while in Europe outside France sales grew strongly to €0.23 million (up 31%) with volumes up 65% to 890 units. In France, sales were stable in the first quarter of 2018, at €0.40 million, with 1,026 units sold.