INTERIM REPORT 1 JANUARY – 30 SEPTEMBER 2023
- US: Commercial business started promising with the first surgeries performed. 510(k) application for Episealer® MTP-system submitted
- OUS: Continued steady growth driven by continued strong growth in customer base
- Execution of re-structuring program ongoing
”In connection with the report for the third quarter of 2023, we clearly show we are on the right track. The expansion of the business model, both in terms of the product portfolio and geographies, is now showing clear progress, and we expect this development to continue at an increasingly rapid pace. While posting 86% revenue growth, 67% gross order intake growth, and continued strong growth of the customer base, we believe the interesting phase just started. Our OUS business now shows signs of taking off, and the US business has started promising, and we expect a product launch in an additional US market segment next year. We now have the breath, the products, and the market presence to deliver a commercial breakthrough,” says Pål Ryfors, CEO Episurf Medical.
Third quarter 2023 compared to 2022, Group
» Group net sales amounted to SEK 2.6m (1.4)
» Gross order intake amounted to SEK 2.5m (1.5)
» Loss for the period amounted to SEK -20.8m (-17.8)
» Earnings per share amounted to SEK -0.08 (-0.07)
First nine months 2023 compared to 2022, Group
» Group net sales amounted to SEK 7.4m (4.8)
» Gross order intake amounted to SEK 8.2m (5.0)
» Loss for the period amounted to SEK -72.9m (-53.6)
» Earnings per share amounted to SEK -0.27 (-0.20)
Significant events during the third quarter 2023
» Episurf Medical’s received its first US VAC approval
» Prospective Episealer® Talus clinical study was fully recruited
» Early results from Episealer® Talus study were presented at a scientific congress
» Results from the use of Episealer® were accepted for publication in scientific journal
» Scientific article on Episealer® Talus surgical technique was published in Foot & Ankle Clinics
Significant events after the quarter
» First commercial case in the US was performed
» Episurf Medical has filed 510(k) submission for big toe implant
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 CEST on 27 October 2023.
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