Financial

EOS imaging First Half 2016 Revenue Increases 39% to €14.1 million

July 12, 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 half-year revenues for the period ended June 30, 2016.

€ millions H1 2016 H1 2015 % change
Equipment sales 11.45 8.50 +35%

          As a % of total revenues

81% 83%
Sales of maintenance 2.22 1.32 +68%

          As a % of total revenues

16% 13%
Sales of consumables and services 0.46 0.38 +23%

          As a % of total revenues

3% 4%
Total revenues 14.14 10.20 +39%
Unaudited data
  • Sharp increase in sales in the first half of 2016: up 39% to €14.1 million

The Company sold 28 EOS® systems during the first half of the year, as compared to 20 during the same period last year. Revenues from sales of equipment totalled €11.45 million, an increase of 35%.

Sales of maintenance contracts increased 68% to €2.22 million, reflecting the continued increase in the installed base of EOS systems under contract.

Sales of consumables and services were €0.46 million in the first half of 2016, an increase of 23%.

  • The strong growth in sales was driven by continued momentum in the United States
€ millions H1 2016 H1 2015 % change
EMEA 5.31 4.27 +24%
North America 7.66 5.45 +41%
Asia-Pacific 1.17 0.47 +146%
Total revenues 14.14 10.20 +39%
Unaudited data

EOS reported continued sales momentum in North America during the first half of 2016 with the sale of 16 EOS® systems, as compared to 11 systems in the first half of 2015. The company generated North American revenue of €7.66 million, an increase of 41%.

EOS showed a growth of 24% in the EMEA region, where it generated revenues of €5.31 million, driven by record sales in Germany.

Sales in the Asia-Pacific region were €1.17 million, an increase of 146%.

  • Second quarter of 2016: up 28% to €8.82 million
€ millions 2016 2015
Q1 Q2 Q1 Q2
Equipment sales 4,10 7,36 2,50 6,00

                    As a % of total revenues

76% 83% 75% 87%
Sales of maintenance 0,99 1,23 0,63 0,69

                    As a % of total revenues

19% 14% 19% 10%
Sales of consumables and services 0,24 0,22 0,19 0,19

                    As a % of total revenues

5% 3% 6% 3%
Total revenues 5,33 8,82 3,32 6,88

Unaudited data

EOS imaging sold 18 EOS® systems in the second quarter of 2016, up from 14 systems in the same period last year, and generated revenues of €8.82 million, an increase of 28% as compared to the second quarter of 2015.

Marie Meynadier, Chief Executive Officer of EOS imaging, said, “We had a successful first half of 2016, highlighted by the continued growth in EOS system sales and the achievement of several important regulatory and commercial milestones that will contribute to our ongoing performance. We are pleased that the adoption of our technology in key markets is accelerating, as reflected in our revenue growth. The EOS platform is increasingly being recognized as a standard of care in orthopaedics because of its unique dose reduction and the high quality image and data it produces, which enables physicians to improve and personalize orthopaedic patient care. In addition to our commercial ramp up, the first half of the year included significant steps in China and Korea, the launch of strategic partnerships with two major orthopaedic implant companies in the UK and Japan, and technology license partnerships and regulatory clearances that will fuel our online EOS Apps portfolio. We are delighted with this momentum and will continue our efforts to provide relevant and cost-effective solutions to the challenges within the orthopaedic continuum of care.”

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

Next press release: 2016 Half-Year Results, September 8, 2016 (after market close)

Contacts

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

 

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Josh Sandberg

Josh Sandberg is the President of Ortho Spine Partners and Partner for The De Angelis Group. He also serves as Co-Founder and Editor of OrthoSpineNews.

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