SuperSonic Imagine Announces Q1 2017 Revenue Growth of +16%

  • Solid performance for both Products (+14%) and Service (+31%)
  • Growth led by the United States (+37%) and China (+21%)

AIX-EN-PROVENCE, France--()--Regulatory News:

SuperSonic Imagine (Paris:SSI) (Euronext: SSI, FR0010526814, PEA-PME eligible), a company specialized in ultrasound medical imaging, today announces its revenue for the 1st quarter of 2017.

Michèle Lesieur, CEO and President of SuperSonic Imagine, comments: “The first quarter of 2017 was very positive, with sales growth of 16% generated by our three key regions (EMEA, Americas and Asia). This performance was driven by excellent results in the United States (+37%) and China (+21%). We are also benefiting from the increase of our installed base through strong growth in Service (+31%). With this third straight quarter of growth, we are entering a new expansion period for SuperSonic Imagine, the main pillars of which are (i) a clinical strategy focused on breast and liver, (ii) a geographical focus on China, the United States and France, (iii) technological innovations with a major and increasingly-acknowledged clinical impact and (iv) the development of repeat sales on a fast-growing installed base. The capital increase we plan to carry out during the second quarter of 2017 will support this new dynamic, in which we have confidence.

                           
In million of euros     2017       2016       Change (%)
Products     3.908       3.429       +14%
% of total sales 86% 88%
Service 0.619 0.474 +31%
% of total sales 14% 12%
Q1 sales     4.527       3.903       +16%
% of total sales     100%       100%        
Other revenue (*)     -       0.226       -

Total Q1 revenue

    4.527       4.129       +10%
 

Unaudited data
Note (*): this revenue is non-recurrent by nature and is not part of the Group’s core business.

SuperSonic Imagine has continued its growth momentum by recording three straight quarters of growth: +10% in Q3-2016, +16% in Q4-2016 and +16% in Q1-2017.

Over the first quarter of 2017, the Company generated growth of +16% to €4.527 million compared with a strong first quarter of 2016 that saw growth of +21% to €3.903 million. At constant currency, growth would have been 15% between these same two quarters.

This improvement was the result of a +14% increase in Product sales to €3.908 million (vs. €3.429 million) and an excellent performance by Service sales, which were up +31% to €619 thousand (vs. €474 thousand). Service sales accounted for 14% of quarterly sales, versus 12% in Q1 2016.

Our key markets that are the United States, the world’s largest ultrasound market, China, which should become the largest market by 2020, and France, our domestic market, generated growth of +16% to €2.572 million (vs. €2.220 million).

The United States and China posted a very strong quarter, with growth of +37% to €677 thousand (vs. €494 thousand) and +21% to €1.171 million (vs. €967 thousand) respectively. France recorded a decrease of 5% to €725 thousand (vs. €759 thousand), given a particularly strong first quarter of 2016.

More globally, the EMEA (Europe, Middle East & Africa), Americas and Asia markets all improved significantly, with growth of +18% to €2.209 million (vs. €1.876 million), +8% to €729 thousand (vs. €676 thousand) and +18% to €1.589 million (vs. €1.351 million) respectively.

Once other revenue, essentially consisting of non-recurrent fees to access the Group’s technology, is taken into account, SuperSonic Imagine’s total revenue for the first quarter of 2017 was €4.5 million, up +10% compared with the first quarter of 2016.

Next press release: H1 sales, on July 19, 2017

About SuperSonic Imagine

Founded in 2005 and based in Aix-en-Provence (France), SuperSonic Imagine is a company specializing in medical imaging. The company designs, develops and markets a revolutionary ultrasound system, Aixplorer®, with an UltraFast™ platform that can acquire images 200 times faster than conventional ultrasound systems. In addition to providing exceptional image quality, this unique technology is the foundation of several innovations which have changed the paradigm of ultrasound imaging: ShearWave™ Elastography (SWE™), UltraFast™ Doppler, Angio PL.U.S – Planewave UltraSensitive™ Imaging and more recently TriVu. ShearWave Elastography allows physicians to visualize and analyze the stiffness of tissue in a real-time, reliable, reproducible and non-invasive manner. This criteria has become an important parameter in diagnosing potentially malignant tissue or other diseased tissue. As of today, over 300 peer-reviewed publications have demonstrated the value of SWE for the clinical management of patients with a wide range of diseases. UltraFast Doppler combines Color Flow Imaging and Pulsed Wave Doppler into one simple exam, providing physicians with exam results simultaneously and helping to increase patient throughput. The latest innovation, Angio PL.U.S, provides a new level of microvascular imaging through significantly improved color sensitivity and spatial resolution while maintaining exceptional 2D imaging. SuperSonic Imagine has been granted regulatory clearances for the commercialization of Aixplorer in key global markets. SuperSonic Imagine is a listed company since April 2014 on the Euronext, symbol SSI. For more information about SuperSonic Imagine, please go to www.supersonicimagine.com.

Contacts

SuperSonic Imagine
Marketing & Communication
Emmanuelle Vella, +33 4 86 79 03 27
emmanuelle.vella@supersonicimagine.com
or
NewCap
Investor Relations – EU
Pierre Laurent / Florent Alba
+33144719855
supersonicimagine@newcap.fr
or
Pascale Communication
Media Relations - US
Amy Phillips, +1 412 327 9499
amy@pascalecommunications.com

Contacts

SuperSonic Imagine
Marketing & Communication
Emmanuelle Vella, +33 4 86 79 03 27
emmanuelle.vella@supersonicimagine.com
or
NewCap
Investor Relations – EU
Pierre Laurent / Florent Alba
+33144719855
supersonicimagine@newcap.fr
or
Pascale Communication
Media Relations - US
Amy Phillips, +1 412 327 9499
amy@pascalecommunications.com