- 12% growth in Q3 2020 for direct activity
- Increase in key direct markets: +12% in France and +14% in the United States
Regulatory News:
IMPLANET (Paris:ALIMP), (Euronext Growth: ALIMP, FR0013470168, eligible for PEA-PME equity savings plans), a medical technology company specializing in vertebral and knee-surgery implants, today announces its revenue for the third quarter and first nine months to September 30, 2020.
Ludovic Lastennet, CEO of Implanet, commented: "In keeping with the signs observed before the summer, the third quarter has confirmed the gradual resumption in Spine and Knee operations. During the period, we recorded a similar level of activity to that seen in the third quarter of 2019, which itself was significantly up over the previous year's figure. We have put all the elements in place to benefit from this upturn. Our direct activity, which accounts for 82% of Implanet's business, recorded a significant rally of +12% in the third quarter of 2020. In France and Europe, the situation is gradually improving. Activity is positive in the United States, supported by the resumption of our partnerships, notably with SeaSpine. We are continuing our efforts to accompany this upturn and meet customer requirements while anticipating continued changes in the public health situation. Implanet will make the most of the end of the year by activating every lever at its disposal
Revenue (in thousands IFRS*) | 2020 | 2019 | Change |
1st quarter revenue | 1,567 | 1,904 | -18% |
2nd quarter revenue | 1,029 | 1,915 | -46% |
Spine (JAZZ) | 1,194 | 1,189 | 0% |
Knee | 555 | 550 | +1% |
3rd quarter revenue | 1,749 | 1,739 | +1% |
Spine (JAZZ) | 2,704 | 3,573 | -24% |
Knee | 1,640 | 1,984 | -17% |
Total 9-month revenue | 4,344 | 5,557 | -22% |
*Unaudited data
In the third quarter of 2020, Implanet recorded revenue of €1.75 million, a similar figure to 2019, which was already a +12% improvement compared with 2018.
JAZZ activity sales recovered over the quarter and reached the same level as in 2019, with revenue totaling €1.19 million. The resumption in surgical operations in the United States enabled this region to record a +14% increase in direct sales over the period.
Knee activity is seeing a similar situation with sales totaling €0.56 million, thus marking a return to the level of activity recorded in the same period of 2019. Sales in France increased by +23% over the last three months. Export sales have been stopped for now, to limit country and foreign exchange risks. The first Knee operations with KICo in the United States are expected during the final quarter of 2020.
Over the first 9 months of the year to the end of September 2020, Implanet's revenue reflects the impact of the COVID-19 pandemic, which led to the halting and postponement of scheduled surgical operations, particularly during the second quarter of 2020. To date, the decrease has been 22% with revenue totaling €4.34 million. Spine activity generated revenue of €2.70 million to end-September, versus €3.57 million over the first 9 months of 2019. Knee activity recorded revenue of €1.64 million to end-September 2020, versus €1.98 million over the same period of 2019.
Key 2020 events to date
Acceleration in Implanet's commercial development and strengthening of its organization in Germany with the appointment of Stephan Collardey as Country Manager Germany,
JAZZ Cap intellectual property extended to Japan,
Marketing of MADISON total knee prosthesis implants begins in the United States.
Implanet will hold a DirectDirigeants live webinar in partnership with EasyBourse
tomorrow, Wednesday October 14, from 5 to 6 pm Paris time, in French only
CEO Ludovic Lastennet will be available for a live discussion on an update presenting the current state of the market, Implanet's strategy and the progress it has achieved.
If you would like to take part, please register here
Upcoming financial event:
2020 annual revenue, Tuesday January 19, 2021 after market close*
* Subject to potential change
About IMPLANET
Founded in 2007, Implanet is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its activity revolves around two product ranges, the latest generation JAZZ implant, designed to improve the treatment of spinal pathologies requiring vertebral fusion surgery, and the MADISON implant designed for first-line prosthetic knee surgery. Implanet's tried-and-tested orthopedic platform is based on product traceability. Protected by four families of international patents, JAZZ and MADISON have obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States, the CE mark as well as the ANVISA authorization in Brazil. Implanet employs 36 staff and recorded 2019 sales of €7.4 million. For further information, please visit www.implanet.com. Based near Bordeaux in France, Implanet established a US subsidiary in Boston in 2013. Implanet is listed on Euronext Growth market in Paris.
The Company would like to remind that the table for monitoring the equity line (OCA, OCAPI, BSA) and the number of shares outstanding, is available on its website: http://www.implanet-invest.com/suivi-des-actions-80
View source version on businesswire.com: https://www.businesswire.com/news/home/20201013005829/en/
Contacts:
IMPLANET
Ludovic Lastennet, CEO
David Dieumegard, CFO
Tel.: +33(0)5 57 99 55 55
investors@Implanet.com
NewCap
Investor Relations
Sandrine Boussard-Gallien
Nicolas Fossiez
Tel.: +33 (0)1 44 71 94 94
implanet@newcap.eu
NewCap
Media Relations
Nicolas Merigeau
Tel.: +33 (0)1 44 71 94 94
implanet@newcap.eu
