EOS imaging REPORTS THIRD QUARTER 2018 SALES
Continued momentum in Asia-Pacific and North America, offset by delayed timing of capital sales in EMEA
▪Strong commercial traction in Q3 in North America (+23% sales growth, excluding forex impact) and in Asia-Pacific (+47%)
▪Delays in sales continuing to impact EMEA, with commercial catch-up anticipated next quarter
▪€25.5 millionof consolidated sales for the 9-months ended September 30, 2018 (+5% excluding forex impact)
▪Strong dynamics anticipated in fourth quarter expected to drive solid growth for full year 2018
Paris, October 16, 2018-6 pm (CEST)-EOS imaging (Euronext, FR0011191766 - EOSI - Eligible PEA - SME), the pioneer of 2D/3D imaging and data solutions for orthopedics, today announced its (non-audited) consolidated sales for the third quarter ended September 30, 2018.
Marie Meynadier, Chief Executive Officer of EOS imaging, commented, "We continue to build a solid foundation for future growth with strong commercial traction, particularly in the North America and Asia-Pacific regions. This continued momentum was partially offset by temporary delays with several accounts, primarily in EMEA. We view this timing setback as short-term and anticipate a strong catch up in the last quarter of the year, leading to a solid growth for the full year. We are confident and committed to accelerating growth across all three of our major markets as we continue to see our solutions gain traction amongst hospitals and private practices."
▪Nine Month 2018 Sales by Product Line
Sales / non-audited /€ millionsAs of September, 30
Equipment Sales
As % of total sales
Sales of Maintenance
+34%
As % of total sales
5.7623%
4.2917%
+39%
Sales of consumables and services
As% of total sales
0.652%
0.743%
-12%
-12%
Total Sales
25.51
24.93
+2%
+5%
In the first nine months of 2018, EOSimaging generated revenue of €25.5 million, up +2%including forex impact compared to same period prior year, and€26.3 million, up +5%, excluding forex impact.
46 EOS® systems have been sold year-to-date (vs. 51 for the same period last year), with a solid average selling price. Total revenues from equipment sales was €19.1 million, compared to €19.9 millionin the same period in 2017.
Due to the increased installed base of EOS® systems, recurring revenues grew +27% to €6.4 million, including€5.8 million in maintenance revenue (+34%) and €0.7million in consumables and services revenues.
▪Nine Month 2018 Sales by Geography
Revenues / non-audited / € millionsAs of September 30 | 9M 2018 | 9M 2017 | % change(excl. forex impact) | |
EMEA North America Asia-Pacific LATAM | 8.19 10.86 5.75 0.71 | 11.52 9.18 4.23 - | -29% +18%(+27%) +36% - | |
Total revenues | 25.51 | 24.93 | +2%(5%) |
Total revenues for the first nine months of 2018 benefited from the strong commercial traction in North America and Asia-Pacific and were partially offset by continued delays in EMEA regions,where revenue decreased -29% primarily attributed to the three largest EMEA markets of the company (France, United Kingdom, and Germany). In this area, several sales were delayed and are expected to contribute to a strong commercial catch-up in the fourth quarter of 2018.
▪Third Quarter Sales by Product Line
Revenues / non-audited / € millions | Q3 2018 | Q3 2017 | % change |
Equipment sales | 5.49 | 6.74 | -19% |
Sales of maintenance | 2.30 | 1.47 | +56% |
Sales of consumables and services | 0.17 | 0.25 | -32% |
Total sales | 7.96 | 8.46 | -6% |
In the third quarter of 2018, the Company generated revenue of €7.96 million, down 6% compared to the third quarter of 2017 (4% excluding forex impact).
The Company sold 12 EOS® systems during the third quarter of 2018, compared to 17 systems in the same period last year.Revenue from equipment sales was €5.5 million, down 19% compared to 2017.
Recurring revenues grew +44% to €2.5 million and represented 31% of total sales compared to 20% of total sales in the same period last year. This includes €2.3 million in maintenance revenue (+56%)and €0.2 million revenue of consumables and services.
About EOS imaging
EOS imaging designs, develops and markets EOS®, a major innovative medical imaging solution dedicated to osteoarticular pathologies and orthopedics combining equipment and services and targeting a $2B per year market opportunity. EOS imaging is currently present in 33 countries, including the United States under FDA agreement, Japan, China and the European Union under CE labelling, through the over 280 installed
EOS® platforms representing around one million patient exams every year. Revenues were €37.1M in 2017,e.g. a +32% CAGR over 2012-2017. For more information, please visitwww.eos-imaging.com.
EOS imaging has been selected to integrate the EnterNext © PEA - PME 150 index, composed of 150 French, listed companies on the Euronext markets in Paris.
EOS imaging is listed on Compartment C of Euronext Paris ISIN: FR0011191766 - Ticker: EOSI
CONTACTS
EOS imagingMarie Meynadier CEO
Ph: +33 (0)1 55 25 60 60investors@eos-imaging.com
Investor Relations (US)
Matt Picciano / Emma Poalillo The Ruth Group
Ph: 646-536-7008 / 7024
EOS-imagingIR@theruthgroup.com
Press Relations (US)
Kirsten Thomas The Ruth Group Ph: 508-280-6592kthomas@theruthgroup.com
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EOS imaging SA published this content on 16 October 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 October 2018 16:22:04 UTC