Financial

EOS imaging Reports Third Quarter 2018 Sales

October 16, 2018

PARIS–(BUSINESS WIRE)–Regulatory News:

EOS imaging (Paris:EOSI) (Euronext, FR0011191766 – EOSI – Eligible PEA – SME), the pioneer of 2D/3D imaging and data solutions for orthopedics, today announced its (non-audited) consolidated sales for the third quarter ended September 30, 2018.

Marie Meynadier, Chief Executive Officer of EOS imaging, commented, “We continue to build a solid foundation for future growth with strong commercial traction, particularly in the North America and Asia-Pacific regions. This continued momentum was partially offset by temporary delays with several accounts, primarily in EMEA. We view this timing setback as short-term and anticipate a strong catch up in the last quarter of the year, leading to a solid growth for the full year. We are confident and committed to accelerating growth across all three of our major markets as we continue to see our solutions gain traction amongst hospitals and private practices.

  • Nine Month 2018 Sales by Product Line
Sales / non-audited / € millions

As of September, 30

9M 2018 9M 2017 % Change

% Change
excl. forex
impact

Equipment Sales 19.10 19.89 -4% -1%

As % of total sales

75% 80%

Sales of Maintenance

5.76

4.29

+34%

+39%

As % of total sales

23%

17%

Sales of consumables and services

0.65

0.74

-12% -12%

As % of total sales

2%

3%

Total Sales 25.51 24.93 +2% +5%

 

In the first nine months of 2018, EOS imaging generated revenue of €25.5 million, up +2% including forex impact compared to same period prior year, and €26.3 million, up +5%, excluding forex impact.

46 EOS® systems have been sold year-to-date (vs. 51 for the same period last year), with a solid average selling price. Total revenues from equipment sales was €19.1 million, compared to €19.9 million in the same period in 2017.

Due to the increased installed base of EOS® systems, recurring revenues grew +27% to €6.4 million, including €5.8 million in maintenance revenue (+34%) and €0.7 million in consumables and services revenues.

  • Nine Month 2018 Sales by Geography

Revenues / non-audited / € millions
As of September 30

9M 2018 9M 2017 % change
(excl. forex
impact)
EMEA 8.19 11.52 -29%
North America 10.86 9.18 +18% (+27%)
Asia-Pacific 5.75 4.23 +36%
LATAM 0.71
Total revenues 25.51 24.93 +2% (5%)

 

Total revenues for the first nine months of 2018 benefited from the strong commercial traction in North America and Asia-Pacific and were partially offset by continued delays in EMEA regions, where revenue decreased -29% primarily attributed to the three largest EMEA markets of the company (France, United Kingdom, and Germany). In this area, several sales were delayed and are expected to contribute to a strong commercial catch-up in the fourth quarter of 2018.

  • Third Quarter Sales by Product Line
Revenues / non-audited / € millions Q3 2018 Q3 2017 % change
Equipment sales 5.49 6.74 -19%
Sales of maintenance 2.30 1.47 +56%
Sales of consumables and services 0.17 0.25 -32%
Total sales 7.96 8.46 -6%

 

In the third quarter of 2018, the Company generated revenue of €7.96 million, down 6% compared to the third quarter of 2017 (4% excluding forex impact).

The Company sold 12 EOS® systems during the third quarter of 2018, compared to 17 systems in the same period last year. Revenue from equipment sales was €5.5 million, down 19% compared to 2017.

Recurring revenues grew +44% to €2.5 million and represented 31% of total sales compared to 20% of total sales in the same period last year. This includes €2.3 million in maintenance revenue (+56%) and €0.2 million revenue of consumables and services.

About EOS imaging

EOS imaging designs, develops and markets EOS®, a major innovative medical imaging solution dedicated to osteoarticular pathologies and orthopedics combining equipment and services and targeting a $2B per year market opportunity. EOS imaging is currently present in 33 countries, including the United States under FDA agreement, Japan, China and the European Union under CE labelling, through the over 280 installed EOS® platforms representing around one million patient exams every year. Revenues were €37.1M in 2017, e.g. a +32% CAGR over 2012-2017. For more information, please visit www.eos-imaging.com.

EOS imaging has been selected to integrate the EnterNext © PEA – PME 150 index, composed of 150 French, listed companies on the Euronext markets in Paris.

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

Contacts

EOS imaging
Marie Meynadier
CEO Ph: +33 (0)1 55 25 60 60
investors@eos-imaging.com
or
Investor Relations (US)
Matt Picciano / Emma Poalillo
The Ruth Group
Ph: 646-536-7008 / 7024
EOS-imagingIR@theruthgroup.com
or
Press Relations (US)
Kirsten Thomas
The Ruth Group
Ph: 508-280-6592
kthomas@theruthgroup.com

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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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