PARIS & SAN FRANCISCO--(BUSINESS WIRE)--Regulatory News:
SpineGuard (Paris:ALSGD) (FR0011464452 – ALSGD), an innovative company that develops and markets instruments designed to secure the placement of surgical implants by bringing real-time digital technology into the operating room, reported today its first-quarter 2018 revenue of €1.95m decreasing 7.9% in constant currency (-2.9% in the USA) and of €1.8m at actual exchange rate.
Stéphane Bette, CEO and co-founder of SpineGuard, said: “The sales result in the first quarter was impacted by a base effect as well as an unfavorable dollar-euro exchange rate. This trimester also includes the preparation work for deploying the “Smart Screw” embedded with DSG™ sensing technology in the USA, where we signed with Zavation an additional distribution agreement allowing us to directly serve our customers and contribute from now on to significantly increase our revenue per surgery. Our teams are mobilized to reach our goal of operational profitability by year-end thanks to expense control discipline as well as geographic focus on the USA, France and China where we just delivered a second order.”
Global revenue in the first quarter of 2018 was €1,769k vs. €2,169k in Q1 2017 strongly impacted by the decrease of the US Dollar relative to the Euro, i.e. -18.4%. The decrease was 7.9% cc.
SpineGuard sold 2,351 DSG™ units in the first quarter of 2018 vs. 2,397 units in Q1 2017. 1,306 units (56%) were sold in the USA where the revenue decreased 2.9% in constant currency (-15.9% at actual exchange rate) at USD 1,846k vs. USD 1,901k.
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Next financial press release: 2018 Half-year revenue: July 11, 2018
Founded in 2009 in France and the USA by Pierre Jérôme and Stéphane Bette, SpineGuard’s mission is to make spine surgery safer by bringing real-time digital technology into the operating room. Its primary objective is to establish its proprietary DSG™ (Dynamic Surgical Guidance) technology as the global standard of surgical care, starting with safer screw placement in spine surgery and then in other surgeries. PediGuard®, the first device designed using DSG, was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, Biomedical Engineer. It is the world’s first and only handheld device capable of alerting surgeons to potential pedicular or vertebral breaches. Over 60,000 surgical procedures have been performed worldwide with DSG™ enabled devices. Numerous studies published in peer-reviewed medical and scientific journals have demonstrated the multiple benefits that PediGuard® delivers to patients, surgical staff and hospitals. SpineGuard is expanding the scope of its DSG™ platform through strategic partnerships with innovative medical device companies and the development of smart instruments and implants. SpineGuard has offices in San Francisco and Paris. For further information, visit www.spineguard.com.
The SpineGuard securities may not be offered or sold in the United States as they have not been and will not be registered under the Securities Act or any United States state securities laws, and SpineGuard does not intend to make a public offer of its securities in the United States. This is an announcement and not a prospectus, and the information contained herein does and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in the United States in which such offer, solicitation or sale would be unlawful prior to registration or exemption from registration.