Interim Report 1 January – 31 March 2021

”Whilst this is the best quarter in the history of Episurf, I know that once the Covid-19 pandemic has subsided, we have much more to look forward to. Of course, we recognise that we are at the start of our financial journey. But showing a strong increase in gross order intake, a growing number of surgeons using the Episealer®, an improving annual run-rate indicating continued repeat business, and a strong growth in the number of countries in which we are active, during such a challenging quarter as the first quarter of 2021, gives me a lot of confidence for the future”, says Pål Ryfors, CEO Episurf Medical.

First quarter 2021 compared to 2020, Group

  • Gross order intake amounted to SEK 2.1m (1.6), an increase of 30%. We experienced a 30% increase in orders for Episealer® implants during the quarter with 90 (69) approved orders. Episurf has had the best quarter ever with strong growth in the order book, despite the negative impact of COVID-19
  • Order book amounted to SEK 1.8m (1.0), an increase of 71%
  • Total income of SEK 1.7m (1.6), a growth of 9%
  • Group net sales increased by 10% to SEK 1.6m (1.5)
  • Loss for the period amounted to SEK -16.7m (-17.9); The improved result is primarily due to the company's efforts to reduce costs for Europe in connection with the costs of the IDE study increasing and lower costs due to COVID-19
  • Earnings per share amounted to SEK -0.08 (-0.19)

Significant events during the first quarter

  • Episurf Medical announced its intention to file a 510(k) application in the US for an Episealer® Patellofemoral System
  • First Episealer® Talus surgery in the Asia-Pacific region performed
  • New patents approved in Hong Kong and US for Episurf Medical
  • Episurf Medical entered into distribution agreement for Australia and New Zealand
  • Episealer®: Clinical results with 5-years’ follow-up data has been presented at the 3rd World Arthroplasty Congress
  • Clinical results for Episealer® were accepted for presentation at the 19th ESSKA congress
  • Episurf Medical provided COVID-19 related update ahead of an investor conference

Significant events after the first quarter

  • New patent approved in US for Episurf Medical
  • Episurf Medical reached milestone of 1,000 implants
  • Poster with 5-years’ follow-up data presented at the 3rd World Arthroplasty Congress available

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 EU Market Abuse Regulation and 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 29 April 2021.

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