SpineGuard Announces Its Full-Year 2021 Financial Results and Its First Quarter 2022 Sales

Regulatory News:

SpineGuard (FR0011464452 – ALSGD) (Paris: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 full-year 2021 financial results, as approved by the Board of Directors on April 28, 2022 and its first quarter 2022 sales.

€ thousands – IFRS audited

2021

2020

Revenue

4 405

4 852

Gross Margin

3 606

4 036

Gross margin (% of revenue)

81,9 %

83,2%

Sales, distribution & marketing

2 660

2 578

Administrative costs

1 394

1 740

Research & Development

791

680

Operating profit / (loss)

-1 239

-961

Non-recurring operating costs

-110

-875

Financial Result

-299

-844

Income Tax

-76

-37

Net profit / (loss)

-1 725

-2 716

EBITDA

-1 063

-1 284

Pierre Jérôme, co-founder, Chairman and CEO of SpineGuard, said: “In 2021, we considerably strengthened the company financially while significantly advancing our innovation pipeline and putting in place the necessary means to boost the commercial dynamic in the United States. We are now back to growth in this first quarter of 2022 despite the impact of the Omicron variant on elective surgery’s activity in January and February. This first quarter is already proving particularly fruitful for SpineGuard with consecutively the signing of a very promising partnership with WishBone Medical in pediatric orthopedics, the 19^th clinical publication on our DSG technology, our first patent in robotics and the clearance by the FDA for the commercial release of the Threaded PediGuard in anterior approach spine surgery. Three of these four great achievements directly concern the US market, the largest and most strategic for SpineGuard.”