SpineGuard Reports its Q4 2023 Revenue - Seite 2

In the rest of the world, the product sales grew by +11% in the fourth quarter and +22% in full year, featuring strong growth in Europe and Latin America, and including a major order in China. However, sales decreased by -29% in Q4 and -10% full year respectively when factoring in the interruption of royalties revenue related to the dental project.

6,138 DSG units were sold full year in 2023 vs. 5,934 units full year in 2022, which is a global growth of +3%. 2,120 units were sold in the United States representing 35% of total units.

Cash position

At December 31, 2023, cash and cash equivalents were € 3.9M.

The Horizon equity line put in place on May 31, 2023 with Nice & Green's for an amount of € 7.5M, remains undrawn and suspended per the information given at the launch of the capital increase with shareholders' preferential subscription rights of € 1.5M in December 2023.

Considering these elements, SpineGuard now has cash flow horizon until 2025.

Perspectives

SpineGuard is intensifying its commercial efforts in particular in the United States and accelerating the introduction of three new products derived from its DSG technology to get back to double digit growth from 2024 onwards. These new products are:

1. PediGuard Threaded adapted to scoliosis correction via anterior approach;
2. Cannulated PediGuard for sacroiliac fusion in collaboration with Omnia Medical; and
3. DSG Drill Bit compatible with power drills and navigation.

In parallel, the Company is actively working on obtaining the clearance of the whole PediGuard product range in China and seeking partners for dental implantology and surgical robotics.

About SpineGuard
Founded in 2009 in France and the USA by Pierre Jérôme and Stéphane Bette, SpineGuard is an innovative company deploying its proprietary radiation-free real time sensing technology DSG (Dynamic Surgical Guidance) to secure and streamline the placement of implants in the skeleton. SpineGuard designs, develops and markets medical devices embedding its technology. Over 95,000 surgical procedures have been secured worldwide thanks to DSG and 29 studies published in peer-reviewed scientific journals have demonstrated the multiple benefits DSG offers to patients, surgeons, surgical staff and hospitals. Building on these strong fundamentals and several strategic partnerships, SpineGuard is expanding the scope of its DSG technology to the treatment of scoliosis via anterior approach, sacroiliac joint fusion, dental implantology and innovations such as the « smart » pedicle screw and power drill or surgical robotics. DSG was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, Biomedical Engineer. SpineGuard has engaged in multiple ESG initiatives.