Sofwave Medical Reports Third Quarter 2023 Financial Results and Business Highlights - Seite 2

Dr. Shimon Eckhouse, Chairman & Co-Founder, added, “We are pleased by the strong results we continue to generate with our SUPERB technology platform and look forward to launching new innovations and further broadening our geographic reach in the most important medical aesthetic markets. Importantly, we believe the success and popularity of a new class of weight-loss, GLP-1 based drugs that have come to market, will further drive demand for our growing line of treatment indications. As such, we are undertaking a number of key initiatives aimed at leveraging our position as a market leader in non-invasive skin tightening and lifting on face and body. Looking ahead, Sofwave has a substantial opportunity to transform a medical aesthetic industry that is clearly in need of enhanced innovation and we are confident in our ability to continue executing our growth strategy.”

Operational Highlights (First nine months of 2023)

• Obtained FDA clearance for reduction of Ance Scars
• Obtained FDA clearance for the “Precise” SUPERB applicator
• Granted FDA clearance for Sofwave Smart IoT Module
• Granted regulatory approval for SUPERB technology in Mexico
• Received second U.S. patent for the Company’s proprietary SUPERB technology
• Launched new subsidiary in the United Kingdom
• Over 185,000 treatments conducted since initial market approval
  
  

Financial Summary

IFRS Results (U.S. dollars in thousands)
	Q3’23			Q3’22			9M’23			9M’22
Revenues	$12,226			$8,200			$35,013			$21,851
Gross Profit	$8,920			$6,035			$25,830			$16,105
Gross Margin	73.0%			73.6%			73.8%			73.7%
Operating Loss	($1,210)			($5,158)			($7,826)			($14,203)
*Non-IFRS Results