Interim Report 1 January – 30 September 2022
- Continued strong growth in customer base, 48% growth year-on-year
- Update on commercial focus areas to be presented at Capital Markets Day
- Progress on all three US regulatory processes – closing in on important milestones
”Following a very turbulent time during the pandemic, with significant volatility between the quarters, we have experienced a positive customer acquisition trend for several consecutive quarters. In the previous CEO statement, I clearly stated that this was a key priority now as we are not only coming out of the pandemic but also having a more commercial focus, as this is the next step for us. Hence, I am pleased with this development. Following growth in our quarterly customer base of 24% and 72% during Q1 and Q2 2022, the customer base grew by 48% in Q3. We are still exposed to significant pandemic-related backlogs of knee replacement patients. Just like last year, we experienced a very low activity level during the European summer months of July and August. This hampered the sales activities during the quarter, so seeing such strong growth in the customer base is very encouraging. We know reasonably well what volumes we can expect in a normalized world. Hence customer acquisition remains a priority”, says Pål Ryfors, CEO Episurf Medical.
Third quarter 2022 compared to 2021, Group
- Gross order intake amounted to SEK 1.5m (1.6)
- Order book amounted to SEK 1.6m (1.4)
- Group net sales amounted to SEK 1.4m (1.5)
- Loss for the period amounted to SEK -17.8m (-15.9)
- Earnings per share amounted to SEK -0.07 (-0.07)
First nine months 2022 compared to 2021, Group
- Gross order intake amounted to SEK 5.0m (5.2)
- Group net sales amounted to SEK 4.8m (5.1)
- Loss for the period amounted to SEK -53.6m (-50.4)
- Earnings per share amounted to SEK -0.20(-0.23)
Significant events during the third quarter
- Episealer® Knee implants were included in the UK NICE guidelines
- Episurf Medical provided update on 510(k) application
- Episurf Medical invited investors to a capital markets day on 16 November 2022
- First Episealer® Talus surgery was performed in Israel
- Presentation by Prof Karl Eriksson about the Episealer® Knee technology and clinical results at the 5th International Conference on Meniscus Science and Surgery in Luxembourg
- Results from study with Episealer® Knee implant were accepted for presentation at a Swedish, German, Australian, and New Zealand orthopaedic congress
- Prof. Leif Ryd was a part of the faculty at Orthopaedic Summit 2022: Evolving Techniques
Significant events after the second quarter
Episealer® Knee technology and clinical results to be presented at scientific congress in the US
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.
The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CET on 16 November 2022.
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