SpineGuard Reports Its Full-year 2025 Revenue

PARIS & BOULDER, Colo.--(BUSINESS WIRE)--Regulatory News:

SpineGuard (FR0011464452 – ALSGD), an innovative company that deploys its digital surgical guidance (DSG®) technology, which measures the electrical conductivity of tissues in real time at the local level to secure and simplify the placement of bone implants, today announced its revenue for the fiscal year ended December 31, 2025.

Pierre Jérôme, Chairman, CEO and co-founder of SpineGuard, said: " The actions taken in 2025 to adapt our cost structure, particularly in the United States, significantly improved our operating performance, while having a temporary downward impact on our revenue. The growth recorded in Europe and Asia, as well as the sequential increase in our overall revenue in the fourth quarter, demonstrate the resilience of our model. The settlement of our main debt is a key milestone that will facilitate the finalization of the sale of our US subsidiary to Omnia Medical, our US partner, which is set to launch its new sacroiliac fusion system incorporating our PsiFGuard device this week at the NANS (North American Neuromodulation Society) conference in Las Vegas. In this context, SpineGuard is actively pursuing its efforts to achieve operational break-even by the end of 2026, while evaluating various opportunities for strategic partnerships around its DSG® technology for surgical power tools, robotics, and dental applications."

REVENUE IN 2025

€ thousands – IFRS (Unaudited)	2025	2024	Variance At current exchange rates
First Quarter	1,206	1,351	-10.7%
Second Quarter	915	1,095	-16.4%
Third Quarter	770	1,174	-34.4%
Fourth Quarter	867	1,028	-15.7%
Full Year over 12 months	3,758	4,648	-19.1%

SpineGuard's consolidated revenue amounted to €3,758K for the full year 2025, down 19% at current exchange rates (-17% at constant exchange rates) compared to 2024.

In the fourth quarter of 2025, consolidated revenue was down 16% at current exchange rates (-11% at constant exchange rates) compared to the fourth quarter of 2024, while growing sequentially by 13% compared to the third quarter of 2025.

In the United States, revenue for the fourth quarter of 2025 increased by 11% compared to the third quarter of 2025. For the full year, revenue amounted to $2,627K compared to $3,467K in 2024, representing a 24% decrease in dollar terms. This change reflects the gradual transformation of SpineGuard's business model as part of its strategic partnership with Omnia Medical. While this transition is leading to an apparent decline in revenue in the short term, it should result in improved operating margins and increased commercial synergies in the medium and long term.

In other markets, revenue in the fourth quarter of 2025 was up 15% compared to the third quarter of 2025. For the full year, revenue was down slightly by 2% compared to 2024, despite growth of 1% in Europe and 40% in Asia. These developments were offset by a 9% decline in Latin America and a 27% decline in the Middle East, where a significant order related to a recently won tender in Saudi Arabia is expected in the first half of 2026.

In 2025, 5,482 DSG® units were sold, compared with 6,142 units in 2024, representing an overall decline of 11%. Sales in the United States accounted for 1,982 units, or 36% of total units sold during the financial year.

2026 Outlook

SpineGuard is actively pursuing its efforts to achieve operational break-even by the end of 2026. The gradual transformation of its business model in the United States is a key lever in achieving this objective. The ongoing sale of SpineGuard Inc. to Omnia Medical remains subject to customary conditions precedent, primarily the repayment of bonds issued to Norgine Venture and Harbert European Growth, which are due to mature in January 2026. Following the repayment of its main debt, the balance of the safeguard plan will run until March 2030. SpineGuard would like to warmly thank Maître Bastien Mathieu for his swiftness and the quality of his support during the safeguard procedure.

The Company's cash position amounted to €1,791,000 as of December 31, 2025.

Given the net proceeds from the capital increase carried out in December 2025, the reduction in its expenses, its commercial and financial projections, and the progress of discussions with potential partners with a view to new strategic agreements, SpineGuard believes it will be able to cover its financing needs until the fourth quarter of 2026. The Company also notes that subscriptions for the bond financing of up to €1 million concluded on September 10, 2025, are now closed. SpineGuard is actively pursuing new strategic partnerships, expanding the applications of its DSG® technology, and exploring various options to strengthen its financial structure.

Next Financial release:

2025 financial results and 2026 first quarter revenue: April 8, 2026.

About SpineGuard®
Founded in 2009 in France and the USA by Pierre Jérôme and Stéphane Bette, SpineGuard is an innovative company deploying its proprietary radiation-free real time sensing technology DSG® (Dynamic Surgical Guidance) to secure and streamline the placement of implants in the skeleton. SpineGuard designs, develops and markets medical devices embedding its technology. Over 110,000 surgical procedures have been secured worldwide thanks to DSG® and 39 studies published in peer-reviewed scientific journals have demonstrated the multiple benefits DSG® offers to patients, surgeons, surgical staff and hospitals. Building on these strong fundamentals and several strategic partnerships, SpineGuard is expanding the scope of its DSG® technology to the treatment of scoliosis via anterior approach, sacroiliac joint fusion, dental implantology and innovations such as the « smart » pedicle screw and power drill or surgical robotics. DSG® was co-invented by Maurice Bourlion, Ph.D., Ciaran Bolger, M.D., Ph.D., and Alain Vanquaethem, Biomedical Engineer. SpineGuard has engaged in multiple ESG initiatives.

For further information, visit www.spineguard.com

Disclaimer
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.