Interim Report 1 January - 30 June 2023
- Gross order intake grew by 57% to SEK 3.1m and the number of customers grew by 42%
- Strategic focus of the business to decrease cost base and accelerate the road to profitability
- One-off expense of SEK 4m related to strategic initiatives
”Today we have announced that we are focusing the business further, with the implementation of several initiatives to improve the company’s results. I am pleased that we are implementing these measures while maintaining a strong financial position, and we are showing strong growth in our key figures. Gross order intake grew by 57% to SEK 3.1m and the number of customers grew by 42% (61 in the quarter). Now we feel that our commercial efforts are developing in the right direction, and we are adding customers, increasing volumes with individual customers and the awareness about our technology is increasing among orthopaedic surgeons. The month of June was by far our best, with more than 2 surgeries scheduled per day Monday to Sunday. This is a good development, and we show that we are taking exactly the right steps. But we see great opportunities ahead of us, and we recently got our first product approved in the US market, and we have another 510(k)-submission coming up
soon. We need to focus the business further, and we need to become more cost-effective in our way of working,” says Pål Ryfors, CEO Episurf Medical.
Second quarter 2023 compared to 2022, Group
» Gross order intake amounted to SEK 3.1m (2.0)
» Group net sales amounted to SEK 2.2m (1.9)
» Order book amounted to SEK 3.0m (1.5)
» Loss for the period amounted to SEK -28.9m (-19.4) including SEK 4.0m extraordinary cost
» Earnings per share amounted to SEK -0.11 (-0.07)
First six months 2023 compared to 2022, Group
» Group net sales amounted to SEK 4.8m (3.4)
» Gross order intake amounted to SEK 5.6m (3.6)
» Loss for the period amounted to SEK -52.1m (-35.8)
» Earnings per share amounted to SEK -0.20 (-0.13)
Significant events during the second quarter 2023
» Episurf Medical provided an update on the establishment of a US commercial organisation
» Episealer® Patellofemoral System is now available in the United Arab Emirates
» Episurf Medical’s first surgery in the EPIC-Knee studyin Canada was scheduled
Significant events during after the second quarter
» Episurf Medical updated strategy and objectives
» Episurf Medical’s first US VAC approval
For more information, please contact:
Pål Ryfors, CEO, Episurf Medical
Tel:+46 (0) 709 62 36 69
Email: pal.ryfors@episurf.com
Veronica Wallin, CFO, Episurf Medical
Tel:+46 (0) 700 37 48 95
Email: veronica.wallin@episurf.com
About Episurf Medical
Episurf Medical is endeavoring to bring people with painful joint injuries a more active, healthier life through the availability of minimally invasive and individualised treatment alternatives. Episurf Medical’s Episealer® individualised implants and Epiguide® surgical drill guides are developed for treating localised cartilage injury in joints. Episurf Medical’s μiFidelity® system enables implants to be cost-efficiently tailored to each individual’s unique injury for the optimal fit and minimal intervention. Episurf Medical’s head office is in Stockholm, Sweden. Its share (EPIS B) is listed on Nasdaq Stockholm. For more information, go to the company’s website: www.episurf.com.
This information is information that Episurf Medical AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CEST on 14 July 2023.
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