Implanet: First-Quarter 2018 Revenue

Jazz® revenue: €1.1 million, up 5% at constant exchange rates
US Sales up 16% (32% at constant exchange rates)

BORDEAUX, France & BOSTON--()--Regulatory News:

Implanet (Paris:ALIMP) (OTCQX:IMPZY) is holding a conference call in French at 6:30pm this evening. To join the conference call, dial in on +33(0)1.70.71.01.59 then enter PIN code 56375595#.

Implanet (Euronext Growth: ALIMP, FR0010458729, eligible for PEA-PME equity savings plans; OTCQX: IMPZY), a medical technology company specializing in vertebral and knee-surgery implants, is today announcing its first-quarter 2018 revenue.

 

in thousands of euros - IFRS*

  Q1 2018   Q1 2017   Change  

Change
at constant
exchange rates

Spine (Jazz)   1,050   1,066   -2%   +5%
Knee + Arthroscopy   817   982   -17%   -17%
Total revenue   1,867   2,048   -9%   -6%

*Unaudited data

Ludovic Lastennet, Implanet’s Chief Executive Officer, commented: Our first quarter revenue was affected by the contraction in the Knee business in export markets and by unfavorable fluctuations in the dollar-euro exchange rate. These trends were offset by strong growth in Jazz® sales in the United States, especially in adult degenerative surgery.
The publication of the highly encouraging clinical results obtained with Jazz® in the treatment of complex spine indications (PJK prevention) reinforces our decision to accelerate the Company’s development in adult degenerative pathologies, a market estimated to be worth over $2 billion—4 to 5 times the size of the deformity market.
We will also set up our direct sales force in several European countries, replicating what we did in Germany last year, to strengthen our local surgeon support.
In the current environment, we are confident in our growth prospects for 2018 and beyond. We will continue to keep a tight grip on our costs and deliver operating performance improvement.

Overall, Implanet recorded first-quarter 2018 revenue of €1.9 million, down 9% (vs. €2.1 million in Q1 2017), down 6% at constant exchange rates. Jazz® sales dipped 2% to €1.0 million (vs. €1.1 million in Q1 2017), but were up 5% at constant exchange rates. Revenue from the Knee business posted a 17% decline to €0.8 million, as a result of the arthroscopy export business.

Jazz® sales in France edged down 5% to €0.4 million compared with the first quarter of 2017. Strong growth of 16% was recorded in the United States (32% at constant exchange rates), with 425 units sold (37% increase).

In sum, Implanet sold 2,018 Jazz® units during the quarter, which was stable versus Q1 2017.

Next press release: 2018 Half-year revenue, July 11th 2018

Implanet’s Combined General Meeting will be held at 10:00am on May 18, 2018 at the Company’s head office at Technopole Bordeaux Montesquieu, Allée François Magendie, 33650 Martillac. You are cordially invited to this event. For further information. Please send your contact details to the following email address: implanet@newcap.eu

About IMPLANET
Founded in 2007, IMPLANET is a medical technology company that manufactures high-quality implants for orthopedic surgery. Its flagship product, the JAZZ® latest-generation implant, aims to treat spinal pathologies requiring vertebral fusion surgery. Protected by four families of international patents, JAZZ® has obtained 510(k) regulatory clearance from the Food and Drug Administration (FDA) in the United States and the CE mark. IMPLANET employs 46 staff and recorded 2017 sales of €7.8 million. For further information, please visit www.implanet.com.

Based near Bordeaux in France, IMPLANET established a US subsidiary in Boston in 2013.

IMPLANET is listed on Euronext™ Growth market in Paris. The Company would like to remind that the table for monitoring the BEOCABSA, OCA, BSA and the number of shares outstanding, is available on its website: http://www.implanet-invest.com/suivi-des-actions-80

Contacts

IMPLANET
Ludovic Lastennet, Tel. : +33 (0)5 57 99 55 55
CEO
investors@implanet.com
or
NewCap
Investor Relations
Julie Coulot, Tel. : +33 (0)1 44 71 20 40
implanet@newcap.eu
or
NewCap
Media Relations
Nicolas Merigeau, Tel. : +33 (0)1 44 71 94 98
implanet@newcap.eu
or
AlphaBronze
US-Investor Relations
Pascal Nigen, Tel.: +1 917 385 21 60
implanet@alphabronze.net

Contacts

IMPLANET
Ludovic Lastennet, Tel. : +33 (0)5 57 99 55 55
CEO
investors@implanet.com
or
NewCap
Investor Relations
Julie Coulot, Tel. : +33 (0)1 44 71 20 40
implanet@newcap.eu
or
NewCap
Media Relations
Nicolas Merigeau, Tel. : +33 (0)1 44 71 94 98
implanet@newcap.eu
or
AlphaBronze
US-Investor Relations
Pascal Nigen, Tel.: +1 917 385 21 60
implanet@alphabronze.net