SuperSonic Imagine Announces 2017 Sales Growth of +11% to €24.7 Million (+13% Constant Currency)

  • Strong growth in Services: +34%
  • Annual growth driven by China (+29%) and France (+16%)
  • Strong increase in the installed base (+16%), with more than 1,900 platforms

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

SuperSonic Imagine (Paris:SSI) (Euronext: SSI, FR0010526814, PME-PEA eligible), the highly-innovative ultrasound company, today announces its sales for the 4th quarter and full year to December 31, 2017.

In thousands of euros   2017   2016   Change (%)
Products   3,908   3,429   +14%
% of total sales 86% 88%
Services 619 474 +31%
% of total sales 14% 12%
1st quarter sales   4,527   3,903   +16%
Products   5,122   4,434   +16%
% of total sales   89%   89%    
Services   642   522   +23%
% of total sales   11%   11%    
2nd quarter sales   5,764   4,956   +16%
Products   5,680   5,175   +10%
% of total sales   88%   91%    
Services   766   519   +48%
% of total sales   12%   9%    
3rd quarter sales   6,446   5,694   +13%
Products 7,117 7,036 +1%
% of total sales 89% 92%
Services 841 628 +34%
% of total sales 11% 8%
4th quarter sales   7,958   7,664   +4%
             
Products   21,827   20,073   +9%
% of total sales   88%   90%    
Services   2,869   2,143   +34%
% of total sales   12%   10%    
2017 total sales   24,695   22,217   +11%
Other revenues   -   1,023   -
Total revenues   24,695   23,240   +6%

Taking “Other revenues” – essentially consisting of non-recurrent fees to access the Group’s technology – into account, SuperSonic Imagine recorded total revenues of €24.7 million in 2017, up +6% on 2016.

Q4 2017 sales

Despite supply difficulties with certain suppliers, which had a negative impact on its sales, SuperSonic Imagine recorded growth of +4% to €8.0 million in Q4 2017 compared with Q4 2016. At constant currency, growth was +8%.

In China, distributors had brought forward some of their purchases to the 3rd quarter (growth of +105% at constant currency) with the objective of reducing inventory levels before the end of the year, resulting in lower volumes in Q4 2017 (+4% at constant currency). In its other major markets, the United States recorded a slight fall of 1% at constant currency, while France grew by 3%.

Solid growth in 2017

Over 2017 as a whole, SuperSonic Imagine recorded all time high sales of €24.7 million, up +11% on 2016. At constant currency, sales increased by +13% to €25.1 million.

Product sales grew by +9% (+10% at constant currency) and accounted for 88% of total annual sales.

Service sales recorded strong growth of +34% to €2.9 million (+35% at constant currency), and accounted for 12% of total sales compared with 10% in 2016. This strong increase was the result of the continuous growth in the installed base of Aixplorer platforms and their routine use by doctors.

At constant currency, China and France recorded annual growth of 33% to €7.7 million and 16% to €5.1 million respectively, while the United States saw sales fall 18% to €3.3 million.. In this market, the Company began to increase its Sales & Marketing resources in the 4th quarter thus reaffirming its objective of intensifying its efforts and building a platform for sustainable growth. These three key countries generated 64% of annual sales.

As of December 31, 2017, SuperSonic Imagine had an installed base of more than 1,900 Axiplorer worldwide, an increase of 16%.

Michèle Lesieur, CEO and President of SuperSonic Imagine, says: “I am pleased with what we achieved in 2017. We delivered a 3 percentage point acceleration in our growth over 2016 at constant currency, while carrying out an in-depth reorganization of our processes and operating methods in order to make the Company more flexible, more agile and thus more efficient. In 2017, we continued to invest in our team in China in order to support our growth there (+33% in 2017), and also began to strengthen our sales & marketing team in the United States in the 4th quarter to offset the decrease in sales observed in 2017. This investment will therefore need to continue in 2018, because the United States is a powerful significant growth opportunity for SuperSonic Imagine, and we should see the initial effects of this investment by the middle of 2018. We begin this new year in a confident mood, given the structuring phases successfully achieved in 2017, the arrival of our future platform and the strengthening of our American sales teas, all of which will help maintain the ongoing acceleration of our growth.

Next financial press release: 2017 full-year results, on March 14, 2018

About SuperSonic Imagine

Founded in 2005 and based in Aix-en-Provence (France), Supersonic Imagine is a company that specialises in medical imaging. The company designs, develops and markets a revolutionary ultrasound platform, Aixplorer®, which uses UltraFast™ technology that can acquire images around 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™), Angio PL.U.S – Planewave UltraSensitive™ Imaging and, more recently, TriVu and Needle PL.US. ShearWave Elastography allows physicians to visualise and analyse the stiffness of tissue in real-time using a reliable, reproducible and non-invasive procedure. This is an important parameter in diagnosing potentially malignant lesions or other diseased tissue. As of today, over 300 publications have demonstrated the value of SWE in the care of patients with a wide range of diseases. The UltraFast Doppler combines colour flow imaging and pulsed wave Doppler into one simple test, providing physicians with the results of both simultaneously, therefore enhancing the efficiency. The latest innovation, Angio PL.U.S, provides a higher level of microvascular imaging through significantly improved colour sensitivity and spatial resolution, while maintaining exceptional 2D image quality. SuperSonic Imagine has been granted regulatory clearances for the commercialization of Aixplorer® on the main markets. Since April 2014, the SuperSonic Imagine company has been listed on Euronext, symbol: SSI).

Contacts

SuperSonic Imagine
Marketing & Communication
Emmanuelle Vella
emmanuelle.vella@supersonicimagine.com
+33 4 86 79 03 27
or
FP2COM
Florence Portejoie
fportejoie@fp2com.fr
+33 6 07 76 82 83
or
NewCap
Investor Relations – EU
Pierre Laurent / Florent Alba
supersonicimagine@newcap.fr
+33 1 44 71 98 55
or
Pascale Communications
Media Relations - US
Amy Phillips
amy@pascalecommunications.com
+1 412 327 9499

Contacts

SuperSonic Imagine
Marketing & Communication
Emmanuelle Vella
emmanuelle.vella@supersonicimagine.com
+33 4 86 79 03 27
or
FP2COM
Florence Portejoie
fportejoie@fp2com.fr
+33 6 07 76 82 83
or
NewCap
Investor Relations – EU
Pierre Laurent / Florent Alba
supersonicimagine@newcap.fr
+33 1 44 71 98 55
or
Pascale Communications
Media Relations - US
Amy Phillips
amy@pascalecommunications.com
+1 412 327 9499