IMPLANET Reports its 2024 First-Quarter Revenue - Seite 2

Total revenue 1^st quarter

2,223

2,208

+1%

Spine activity generated revenue of €1.96 million in the first quarter of 2024, down 5% compared with revenue of €2.8 million in the first quarter of 2023.

Activity in France continues to show good momentum, with growth of +10%, giving revenue of €1.03 million for the first quarter versus €0.94 million for the same period in 2023. In the United States, following the reorganisation of the sales department in the fourth quarter of 2023 in response to the poor performance recorded in this region, revenue reached €0.31 million in the first quarter of 2024, versus €0.46 million for the same period in 2023. Export activity in the rest of the world recorded revenue of €0.62 million in the first quarter of 2024, versus €0.67 million for the same period the previous year.

The Company is also continuing the rollout of its medical equipment distribution activity with Sanyou Medical subsidiary SMTP’s ultrasound surgical scalpel. The revenue generated by this activity in the first quarter of 2024 was €0.24 million, double the €0.12 million recorded in the same period of the previous year.

Cash position

As of March 31, 2024, the Company’s cash position stood at €2.24 million.

As a reminder, the Company announced on February 2, 2024, the completion of a €5.5 million capital increase. The net proceeds of this capital increase amounted to €5.3 million. As mentioned in its press releases of October 11, and December 11, 2023, the Company redeemed the bond loan contracted in October 2023 for a total amount of €1.3 million.

The Company also concluded an agreement with some of its lenders (Banque Populaire Méditerranée, Bpifrance, Région Nouvelle Aquitaine and Société Générale) to reschedule part of its financial debt over the remaining term of each of the loans concerned, whose maturity has been extended by nine months. This agreement took effect on March 4, 2024.

In view of these elements, and the cash consumption forecasts based on current activity assumptions and anticipated business developments with Sanyou Medical over the 2024 and 2025 financial years, the Company considers that it will be able to cover the financing requirements of its operations for the next twelve months.

Key 2024 Q1 events

• Completion of the capital increase announced on January 4, 2024, raising €5.5 million through the issue of 83,924,897 new shares;
• Appointment of Max W. Painter as Vice President and General Manager of IMPLANET's US subsidiary.

2024 strategy and outlook