Financial

EOS imaging Reports 40% Revenue Growth for the Third Quarter of 2016

October 27, 2016

PARIS–(BUSINESS WIRE)–EOS imaging (Paris:EOSI) (Euronext, FR0011191766 – EOSI – Eligible for PEA-PME savings schemes in France), the pioneer in 2D/3D orthopaedic medical imaging, today announced its consolidated revenue for the third quarter and nine months ended September 30, 2016.

€ millions Sept. 2016

9 months

Sept. 2015

9 months

% change

Equipment sales 16,93 12,29 +38%
As a % of total revenues 82% 82%
Sales of maintenance 3,18 2,04 +56%
As a % of total revenues 15% 14%
Sales of consumables and services 0,65 0,60 +8%
As a % of total revenues 3% 4%
Total revenues 20,75 14,93 +39%
Unaudited data

Marie Meynadier, Chief Executive Officer of EOS imaging, said, “We delivered another quarter of strong growth, building on our positive momentum in 2016 in all three of our key geographical markets and particularly in the important North American one. The combination of our low dose 2D/3D imaging technology and EOSapps continues to position EOS as a standard of care in the evaluation and treatment of musculoskeletal conditions. We expect adoption to increase as we execute our commercial plan and portfolio development and further enhance the value of our solutions for a growing number of medical teams and patients.”

  • Continued sharp increase in sales in the first nine months of 2016

EOS reported total revenue of €20.8 million for the nine months ended September 30, 2016 as compared to €14.9 million for the nine months ended September 30, 2015, an increase of 39%.

The Company sold 41 EOS® systems in the first nine months of 2016, as compared to 30 systems in the same period last year. Revenues from sales of equipment totalled €16.9 million, an increase of 38%.

Sales of maintenance contracts increased 56% to €3.18 million, reflecting the continued increase in the installed base of EOS systems under contract.

Sales of consumables and services were €0.65 million in the first nine months of 2016, an increase of 8%.

  • The strong growth in sales was driven by continued momentum in the United States
€ millions Sept. 2016

9 months

Sept. 2015

9 months

% change
EMEA 7,27 6,12 +19%
North America 11,57 7,35 +57%
Asia-Pacific 1,92 1,47 +31%
Total revenues 20,75 14,93 +39%
Unaudited data

EOS reported continued sales momentum in North America in the first nine months of 2016, generating revenue of €11.6 million, an increase of 57% compared to the same period last year. Sales in North America represented 56% of total revenues for the first nine months of 2016.

Sales in the EMEA region were €7.27 million, an increase of 19%, and sales in the Asia-Pacific region were €1.92 million, an increase of 31%.

  • Third quarter of 2016: up 40% to €6.6 million
€ millions Q1 Q2 Q3 Q1 Q2 Q3 ∆ Q1 ∆ Q2 ∆ Q3
2016 2016 2016 2015 2015 2015
Sales of equipment 4,09 7,36 5,46 2.50 6.00 3.79 +64% +23% +44%
as a % of total revenues 77% 83% 83% 75% 87% 80%
Sales of maintenance 0,99 1,23 0,96 0.63 0.69 0.72 +58% +78% +33%
as a % of total revenues 18% 14% 14% 19% 10% 15%
Sales of consumables and services 0,24 0,22 0,19 0.19 0.19 0.23 +27% +16% -18%
as a % of total revenues 5 % 3% 3% 6% 3% 5%
Total revenues 5,33 8,82 6,60 3.32 6.88 4.74 +60% +28% +40%
Unaudited data

EOS imaging sold 13 EOS® systems in the first nine months of 2016 and generated revenues of €6.60 million, an increase of 40% as compared to the same period last year.

About EOS imaging

EOS imaging designs, develops, and markets EOS®, an innovative medical imaging system dedicated to osteoarticular pathologies and orthopaedics, as well as associated solutions. The Company is authorized to market in 51 countries, including the United States (FDA), Japan, China and the European Union (EC). The Group posted 2015 revenues of €21.8 million and employs 122 people. The Group is based in Paris and has five subsidiaries in Besançon (France), Cambridge (Massachusetts), Montreal (Canada), Frankfurt (Germany) and Singapore.

EOS imaging has been chosen to be included in the new EnterNext© PEA-PME 150 index, composed of 150 French companies and listed on Euronext and Alternext markets in Paris.

EOS imaging is listed on Compartment C of Euronext Paris
ISIN: FR0011191766 – Ticker: EOSI

Contacts

EOS imaging
Anne Renevot, +33 (0)1 55 25 61 24
CFO
investors@eos-imaging.com
or
NewCap
Financial communication and investor relations
Valentine Brouchot, +33 (0)1 44 71 94 96
eosimaging@newcap.eu
or
Press relations
Annie-Florence Loyer, +33 (0)1 44 71 00 12/ +33 (6) 88 20 35 59
afloyer@newcap.fr
or
Daphné Boccara, +33 (0)1 44 71 94 93
dboccara@newcap.fr
or
The Ruth Group (US)
Press relations
Joanna Zimmerman, 646-536-7006
jzimmerman@theruthgroup.com

Tags

Drue De Angelis

Drue is Managing Partner for The De Angelis Group, Executive Search firm exclusively for the Ortho & Spine industry.

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