EOS imaging Reports 35% Revenue Growth for First Nine Months of 2015

246% growth in North America sales

PARIS--()--EOS imaging (Paris:EOSI) (Euronext, FR0011191766 – EOSI), the pioneer in 2D/3D orthopedic medical imaging, today announced its consolidated revenues for the third quarter and nine months ended September 30, 2015.

€ millions   Sept. 30, 2015

9 months

  Sept 30, 2014

9 months

      % change
   
Equipment sales 12.29 9.09 35%
as a % of total revenues   82%   82%  
Sales of maintenance contracts 2.04 1.50 36%
as a % of total revenues   14%   14% -
Sales of consumables and related services 0.60 0.47 28%
as a % of total revenues   4%   4%  
Total revenues   14.93   11.06 35%
Unaudited data
 
  • Robust growth over the first nine months of 2015

EOS imaging reported sales of €14.9 million for the nine months ended September 30, 2015, a 35% increase compared with €11.1 million in the same period of 2014.

With 30 systems sold over the first nine months of 2015, compared with 23 systems in 2014, equipment sales rose by 35% to €12.3 million, compared with €9.1 million over the first nine months of 2014. The average selling price per system was €410 thousand, compared with €395 thousand at September 30, 2014.

The increase in the number of EOS systems installed under contract is continuing to drive sales of maintenance contracts, which grew by 36% to €2.0 million for the nine months ended September 30, 2015.

Sales of consumables and related services, which are primarily associated with the OneFit Medical subsidiary, totaled €0.60 million over the first nine months of September 2015, compared with €0.47 million in the same period of 2014.

  • Continued strong sales growth in North America
€ millions   Sept. 30, 2015

9 months

  Sept. 30, 2014

9 months

      % change
   
EMEA 6.12 4.49 36%
North America 7.35 2.12 246%
Asia-Pacific   1.47   4.45 -67%
Total revenues   14.93   11.06 35%
Unaudited data
 

Over the first nine months of 2015, EOS imaging recorded a 36% increase in sales in the EMEA region, with sales of €6.12 million.

In North America, EOS imaging continued strong sales growth momentum, with sales increasing by 246% to €7.35 million. North America accounted for 49% of the Company’s total revenues. Growth in North America and the EMEA was partially offset by results from the Asia-Pacific region, where sales slowed to €1.47 million following a strong entry to this region in 2014.

  • Quarterly increase in business volumes
€ millions       Q1       Q2       Q3       Q1       Q2       Q3
      2015       2015       2015       2014       2014       2014
Equipment sales 2.50 6.00 3.79 1.56 4.30 3.22
as a % of total revenues       75%       87%       80%       72%       87%       82%
Sales of maintenance contracts 0.63 0.69 0.72 0.45 0.48 0.57
as a % of total revenues       19%       10%       15%       21%       10%       14%
Sales of consumables and related services 0.19 0.19 0.23 0.15 0.17 0.15
as a % of total revenues       6%       3%       5%       7%       3%       4%
Total revenues       3.32       6.88       4.74       2.16       4.96       3.94
Unaudited data
 

In the third quarter of 2015, EOS imaging sold 10 systems, compared with 8 over the same period of 2014, and recorded sales of €4.74 million, a 20% increase compared with the third quarter of 2014.

  • Paula Ness Speers, U.S.-based international specialist for health-sector companies, appointed to the Board of Directors

Paula Ness Speers has more than 30 years of experience in strategic and operational consulting for health-sector companies in the United States, including 7 years with Bain & Company where she was responsible for innovative technologies. In 1992, she co-founded Health Advances, a strategic consultancy firm devoted to the health sector whose 100 staff based between Boston, San Francisco, Washington and Zurich focus on the development of innovative companies. Paula Ness Speers has substantial expertise in analyzing the value of healthcare products and market access in the United States.

Marie Meynadier, CEO of EOS imaging, concludes: “Over the first nine months of this year, we executed a robust growth driven in particular by a remarkable momentum in North America, and we look forward to strong sales into the fourth quarter, historically our highest. We strengthened our executive team in September and are also delighted to welcome to the Board Paula, whose expertise will be a great contribution within the framework of our development in the United States. We are continuing to invest in order to expand our commercial presence and make our low-dose 2D/3D imaging solution available to the greatest possible number of patients.

For more information, please visit www.eos-imaging.com.

EOS imaging has been chosen to be included in the new EnterNext© PEA-PME 150 index, composed of 150 French companies and listed on Euronext and Alternext markets in Paris.

EOS imaging is listed on Compartment C of Euronext Paris

ISIN: FR0011191766 – Ticker: EOSI

About EOS imaging

EOS imaging designs, develops, and markets EOS®, an innovative medical imaging system dedicated to osteoarticular pathologies and orthopaedics, as well as associated solutions. The Company is authorized to market in 48 countries, including the United States (FDA), Japan and the European Union (EC). The Group posted 2014 revenues of €20.1 million and employs 107 people including an R&D team of 39 engineers. The Group is based in Paris and has five subsidiaries in Besançon (France), Cambridge (Massachusetts), Montreal (Canada), Frankfurt (Germany) and Singapore.

Contacts

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

Contacts

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