Establishment Labs Announces Preliminary Results for Fourth Quarter and Full Year 2019; Reports Record Revenue

NEW YORK, Jan. 28, 2020 (GLOBE NEWSWIRE) -- Establishment Labs Holdings Inc. (NASDAQ: ESTA), a medical technology company focused on Women’s Health – initially in the breast aesthetics and reconstruction market – today announced preliminary financial results for the fourth quarter and full year 2019, with total revenue growth for the quarter of 43% to 49%.

“2019 was another extraordinary year for Establishment Labs, and we ended the year on a strong note with our sixth consecutive quarter of record revenue performance,” said Juan José Chacón-Quirós, Founder and CEO of Establishment Labs. “We achieved increased awareness and acceptance of Motiva’s exceptional safety profile and aesthetic differentiation, and we were proud to have reached the one millionth Motiva implant milestone in December. We continue to gain traction in key direct sales markets in Europe and Brazil and add to our growing body of clinical and scientific data that solidify our position as a leading innovator in our industry. We are well positioned to build on this commercial and clinical momentum in 2020.”

Fourth Quarter and Full Year 2019 Financial Highlights

Preliminary and unaudited revenue for the fourth quarter of 2019 is expected to be in the range of $23.5 million and $24.5 million, representing growth of approximately 43% to 49% over the fourth quarter of 2018. Our loss from operations for the fourth quarter of 2019 is expected to be between approximately $4.0 million and $6.0 million, compared to $8.6 million for the fourth quarter of 2018.

Preliminary and unaudited revenue for full year 2019 is expected to be in the range of $88.8 million and $89.8 million, representing growth of approximately 45% to 47% over full year 2018. Our loss from operations for the full year 2019 is expected to be between approximately $30.5 million and $32.5 million, compared to $23.8 million for the full year 2018. 

As of December 31, 2019, the Company’s cash is expected to be approximately $37.6 million, and the principal and interest outstanding under existing credit facilities is expected to be approximately $65.0 million. 

About Establishment Labs

Establishment Labs Holdings Inc. (NASDAQ: ESTA) is a global medical technology company focused on women’s health, initially in the breast aesthetics and reconstruction market, by designing, developing, manufacturing and marketing an innovative portfolio of silicone gel-filled breast implants, branded as Motiva Implants, the centerpiece of the MotivaImagine platform. Motiva Implants are produced at our two manufacturing sites that are compliant with ISO13485:2016, FDA 21 CFR 820 under the MDSAP program, and are currently commercially available in over 80 countries through exclusive distributors or the Company’s direct salesforce. In March 2018, Establishment Labs received approval for an investigational device exemption (IDE) from the FDA and initiated the Motiva Implant clinical trial in the United States in April 2018. In addition to Motiva Implants, Establishment Labs’ product and technologies portfolio includes the Divina 3D Simulation System, MotivaImagine Centers and other products and services. Please visit the website for additional information: www.establishmentlabs.com.