Posted byOrthoEx Posted in
Posted on Jul 18, 2017

July 18, 2017

PARIS–(BUSINESS WIRE)–EOS imaging (Paris:EOSI) (Euronext, FR0011191766 – EOSI – Eligible PEA – SME), the pioneer of orthopaedic medical imaging, 2D/3D, today announced its (non-audited) consolidated revenue for the first semester ended June 30, 2017.

Marie Meynadier, Chief Executive Officer of EOS imaging, commented: “We continue to experience positive commercial dynamics in the EMEA and Asia-Pacific regions. This was a key driver of our performance during the first half of 2017, in line with our global market expansion strategy. We also benefitted from the strong growth of EOS system service contracts, which contributes to the recurring revenue component of our business. In North America, we have appointed Mike Lobinsky to the newly created position of President North America. In this role, he will lead our global North American operations, providing a stronger leadership presence with a focus on accelerating commercial activities, particularly in the U.S., which is one of the most important markets for the Company. Based on the strength of our business in the EMEA and Asia-Pacific, along with our recent initiatives to invigorate the activity in North America, we are confident that we will see an acceleration in global adoption of the EOS solutions.”

  • Revenue for the First Half 2017
€ millions H1 2017 H1 2016 % change
Equipment sales 13.15 11.45 +15%
As a % of total revenues 80% 81%
Sales of maintenance 2.83 2.22 +28%
As a % of total revenues 17% 16%
Sales of consumables and services 0.49 0.46 +4%
As a % of total revenues 3% 3%
Total revenues 16.46 14.14 +16%
Unaudited data

In the first half of 2017, the Company generated a revenue of €16.5 million, up 16% compared to the first half of 2016. The Company sold 34 EOS® systems during the first half of the year, compared to 28 systems in the same period last year. Sales of maintenance contracts increased by 28% to €2.84 million, reflecting the continued growth of the installed base of EOS systems under contract.

The increase in revenues over the first half of 2017 was driven by strong sales in the EMEA and Asia-Pacific regions, partially offset by lower sales in North America, related to an operational reorganization.

€ millions H1 2017 H1 2016 % change
EMEA 7.39 5.36 +38%
North America 5.74 7.66 -25%
Asia-Pacific 3.34 1.12 +197%
Total revenues 16.46 14.14 +16%
Unaudited data

Revenue grew by 38% in EMEA, primarily driven by results from the United Kingdom and France, where the Company recently installed its 50th EOS system, demonstrating its ability to achieve a significant adoption in its target market.

Revenues tripled in Asia-Pacific, reflecting rapid adoption of the EOS system, particularly in the Chinese and Australian markets.

In North America, revenues declined by 25%, as the Company continued to expand its installed base, predominantly in its existing network of client hospitals.

  • Revenue for the Second Quarter 2017
€ millions 2017 2016
Q1 Q2 Q1 Q2
Equipment sales 5.47 7.67 4.09 7.36

As a % of total revenues

77% 82% 76% 83%
Sales of maintenance contracts 1.40 1.43 0.99 1.23

As a % of total revenues

19% 15% 19% 14%
Sales of consumables and services 0.26 0.23 0.24 0.22

As a % of total revenues

4% 3% 5% 3%
Total revenues 7.13 9.34 5.33 8.82
Unaudited data

In the second quarter of 2017, EOS imaging achieved revenue of €9.34 million, up 6% compared to the second quarter of 2016. The Company sold 20 EOS systems in the quarter and continued to increase in the installed base of EOS systems under maintenance contracts.

About EOS imaging

EOS imaging designs, develops, and markets EOS®, an innovative medical imaging service dedicated to osteo-articular pathologies and orthopaedics, as well as the associated solutions. The Company is authorized to market in 51 countries, including the United States (FDA), Japan, and the European Union (EC). The Group posted revenues of €30.8 million and employs 132 people at December 2016, including an R&D team of 43 engineers. 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 selected to integrate the EnterNext © PEA – SME 150 index, composed of 150 French, listed companies on the Euronext markets in Paris.

EOS imaging is listed on Compartment C of Euronext Paris
ISIN: FR0011191766 – Ticker: EOSI

Next press release: 2017 Half-Year Results, September 8, 2017 (after market close)

Contacts

EOS imaging
CFO
Pierre Schwich, +33 (0)1 55 25 61 24
investors@eos-imaging.com
or
NewCap
Financial communication and investor relations
Pierre Laurent, +33 (0)1 44 71 94 96
eosimaging@newcap.eu
or
The Ruth Group (US)
Press relations
Joanna Zimmerman, 646-536-7006
jzimmerman@theruthgroup.com