- Continued stable growth despite restructuring of commercial organization, and satisfactory start in the US with significant opportunities ahead
- Restructuring program completed with planned cost reduction expected 2024
- 510(k)-process ongoing with US FDA for big toe implant
"Despite significantly restructuring our sales force, we ended the year with another record quarter. On average, we have grown our gross order intake by more than 50% during the last five quarters. During 2023, the gross order intake reached SEK 11.1m (+56%). The usage of our technology increased globally and during the fourth quarter, we had a daily usage average of more than 1.4 surgeries per day, Monday to Sunday. Our OUS markets drive this, where we continue to focus on driving clinical acceptance and increasing market penetration, now with an increased focus on distributor sales. In the US, more than one surgery per week has been scheduled since the first booked surgery in August 2023, and we look forward to increasing the pace. All the above is balanced with a continued strong focus on clinical development and product development," says Pål Ryfors, CEO Episurf Medical.
Fourth quarter 2023 compared to 2022, Group
» Gross order intake amounted to SEK 3.1m (2.2)
» Group net sales amounted to SEK 3.0m (1.8)
» Loss for the period amounted to SEK -21.9m (-23.7)
» Earnings per share amounted to SEK -0.08(-0.09)
Twelve months 2023 compared to 2022, Group
» Gross order intake amounted to SEK 11.1m (7.1)
» Group net sales amounted to SEK 10.3m (6.6)
» Loss for the period amounted to SEK -94.8m (-77.3)
» Earnings per share amounted to SEK -0.36 (-0.29)
Significant events during the fourth quarter 2023
» First commercial case in the US was performed
» Episurf Medical has filed 510(k) submission for big toe implant
Significant events after the quarter
» Results from up to 10 years follow-up of Episealer® patients were accepted for presentation
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 9 February 2024.
