EOS imaging Stories 9-month Income up +32% 12 months-on-year

PARIS–(BUSINESS WIRE)–Regulatory Information:

EOS imaging (Euronext, FR0011191766 – EOSI – PEA-PME eligible) (Paris:EOSI), a pacesetter in 2D/3D orthopedic medical imaging and software program options for 3D anatomical modeling and surgical planning, as we speak pronounces unaudited third quarter revenues ending September 30, 2020.

THIRD QUARTER AND NINE-MONTHS 2020 HIGHLIGHTS

• €16.2 million complete revenues (+32%) generated over the primary 9-months of 2020
  • €6.5m in tools revenues vs. €4.3m within the first nine-months of 2019¹
    
    19 methods delivered within the first 9-months of 2020, together with 7 in Q3 2020
  • €9.7m in recurring revenues, up +21% in comparison with 2019, because of the continued progress in upkeep exercise (+26%), offering an elevated resilience to the enterprise mannequin

• €6.Four million complete revenues generated in Q3 2020 (+3.3% vs. Q3 2019 excluding foreign exchange impression)²

• €5.Four million of apparatus orders recorded over Q3 2020 vs. €5.8m in Q3 2019, near historic ranges

• Tools Order Ebook grows in Q3: €16.1m at September 30, 2020 vs. €13.7m at June 30, 2020

• Money place continues to enhance at €10.2m as of September 30, 2020 vs. €9.9m at June 30, 2020

• Confirmed buyer curiosity for EOSedge™ representing 85% of complete 9-months 2020 orders within the international locations the place it’s commercialized

 Mike Lobinsky, CEO of EOS imaging, feedback: “We had been happy to see installs resume to a gentle tempo as we got here out of the lock down interval. As well as, our tools orders have rebound in Q3, pushed by the robust adoption of our new EOSedge system, representing 85% of orders in international locations the place we’re cleared to market. Our money place has additionally continued to enhance. We consider that the Firm is now effectively positioned to seize additional progress within the coming quarters.”

• Tools orders rebound in Q3 2020, approaching prior 12 months ranges

Within the third quarter of 2020, EOS imaging booked 12 tools orders, together with 5 EOSedge, for a complete of €5.Four million, in comparison with 14 orders within the third quarter of 2019 and Four within the second quarter of 2020. Tools orders have considerably rebound in Q3 2020 because of hospitals resuming their funding actions after a primary half of the 12 months impacted by Covid-19.

• The EMEA area is displaying momentum once more with current vital successes:
  • EOSedge has additional entered the German market with an order from the #1 ranked finest German public hospital³ which follows the set up of a 1^st EOSedge in a personal hospital, Asklepios in Hamburg;
  • A brand new EOSedge order has been booked by a big French college hospital;
  • Romania ordered its first EOS for a pediatric hospital in Bucarest.
• Within the U.S., orders resumed in each the hospital and personal orthopedic follow market segments. EOSedge curiosity accelerated in Q3 and continues to be a robust contributor to driving improved world common promoting value.
• In Asia Pacific, Q3 2020 was notably robust with 6 system orders vs. 5 within the earlier 12 months and steady progress in China in addition to in Korea.

Within the first 9 months of 2020, EOS imaging booked a complete of 22 tools orders for a complete worth of €10.Three million, in comparison with 44 orders, for a complete worth of €18.6m in 2019. The lower is a direct results of the COVID-19 pandemic largely in H1 2020.

The typical promoting value continues to extend, pushed by the brand new platform EOSedge.

The order guide worth reached €16.1m on the finish of September 2020 in comparison with €13.7m on the finish of June 2020, as incoming orders exceed deliveries.

• Q3 2020 income +3.3% vs. Q3 2019 (excluding Foreign exchange results)

Q3 2020 income elevated to €6.Four million⁴, i.e. +3.3percent2 vs Q3 2019 excluding Foreign exchange results, and consists of:

• €2.9 million in tools gross sales ensuing from the supply of seven methods, vs. €3.5 million in Q3 2019 when 9 methods had been delivered. Following lockdown associated delays, installations have resumed in Q3 2020.

• €3.5 million in recurring revenues, i.e. +26%, ensuing from:
  • €3.2m (+29%) of Upkeep income fueled by the continual enlargement of the set up base. These revenues haven’t been impacted by the pandemic as they arrive from annual contracts;
  • €0.2m from Consumable and Orthopedic Service revenues, in line vs. earlier 12 months, as elective surgical procedures have resumed in Q3.

Complete income for the primary 9-months of 2020 was €16.2 million (+32%). Tools gross sales amounted to €6.5m (+51%) ensuing from the billing of 19 methods vs. 11 methods within the first nine-months of 2019. Recurring income reached €9.7 million, up +21% in comparison with final 12 months.

• Confirmed buyer curiosity for EOSedge™ and first set up in Australia

The primary 9 months of 2020 confirmed buyer curiosity in EOSedge as 11 out of 22 methods ordered had been EOSedge. Because the begin of the 2020, the EOS imaging modern new platform represented 85% of the orders within the international locations the place it’s commercialized.

EOSedge entered the Asia-Pacific area, with the primary EOSedge set up at Macquarie College Hospital, a number one hospital in Australia.

Since its launch in December 2019, the suggestions from the medical neighborhood has been unanimously constructive, fueling robust market alternatives globally.

• Money place at € 10.2 million as of September 30, 2020

As of end-September 2020, EOS imaging’s money place amounted €10.2 million, in comparison with €9.9 million at 30 June 2020. As famous on the time of the publication of the half-yearly outcomes, the rise in money is pushed by upkeep revenues, tools installations, authorities measures supporting employment, the on-going discount of the working capital and value discount measures carried out by EOS administration.

• COVID-19 replace and outlook

Because it did for a lot of corporations, the COVID-19 pandemic impacted EOS imaging in 2020.

EOS administration monitored intently the scenario and made well timed choices to make sure the protection of staff and prospects whereas persevering with to fulfill the wants of hospitals and caregivers.

The corporate benefited from Authorities applications, designed to offer help through the pandemic.

EOS imaging carried out a price administration plan at the start of the 12 months which the corporate intends to proceed, sustainably reducing bills and contributing to improved profitability.

Through the lock-down EOS Advertising and marketing and Gross sales groups made full use of digital applied sciences to interact with their prospects. The Gross sales group have now regained entry to their prospects and congresses have resumed nearly. Subsequently, the Gross sales and Advertising and marketing actions proceed to generate leads and develop the gross sales pipeline, leveraging the distinctive advantages of the brand new EOSedge platform.

• Q3 and 9-months 2020 orders and revenues by product line

• Q3 2020 and 9-months 2020 revenues by area

ABOUT EOS imaging

EOS imaging is a world medical system firm that designs, develops and markets modern, low dose 2D/3D full physique and weight-bearing imaging, fast 3D modeling of EOS affected person X-ray photos, web-based patient-specific surgical planning, and integration of surgical plan into the working room that collectively bridge the complete spectrum of care from imaging to post-operative evaluation capabilities for orthopedic surgical procedure. With a main deal with hips, knees, and backbone, EOS imaging is focusing on a $2 billion annual market alternative. EOS imaging has over 350 system installations in additional than 40 international locations producing greater than 1 million affected person exams yearly. EOS imaging has company areas in U.S., France, Canada, Germany, and Singapore, and has greater than 165 staff. For extra data, please go to www.eos-imaging.com.

EOS imaging is listed on Compartment C of Euronext Paris

ISIN: FR0011191766 – Ticker: EOSI

¹ To be able to higher meet buyer expectations and enhance its working capital, EOS imaging made a change in its industrial cycle at the start of 2019 by organizing the supply of EOS® methods at the beginning of the set up section, and now not simply after receiving the tools order. Subsequently, (i) new acquired orders construct an order guide and (ii) gross sales are recorded in response to the tempo of supply of the EOS® methods. As installations normally happen Three to 15 months after the order, an identical lag happens on deliveries. Whereas 2019 tools revenues and extra specifically H1 2019 revenues, had been quickly impacted by the transition section, this evolution results in enhancements in manufacturing and logistics administration and helps cut back working capital.

².6% together with Foreign exchange impression

³ For 150-300 beds class, supply: F.A.Z. Institut

⁴ Foreign exchange impression of €(-0.10m) on Q3 2020 and €(0.00m) for 9 months 2020