Financial

IMPLANET announces Q2 2016 record revenue of €2.1 million with Spine sales growing by +68%

Bordeaux, Boston, July 12, 2016 – IMPLANET (Euronext: IMPL, FR0010458729, PEA-PME eligible; OTCQX: IMPZY), a medical technology company specializing in vertebral and knee-surgery implants, today announces its revenue for its second quarter and first half to 30 June, 2016.

Ludovic Lastennet, CEO of Implanet, says: “For the second straight quarter, we have recorded solid revenue growth, notably driven by the significant growth in JAZZ sales in all of our priority markets. Since its launch in mid-2013, and with almost 15,000 implants sold, we estimate the number of patients treated with JAZZ at more than 2,800, including almost 800 in the first half of 2016. Positive clinical outcomes have resulted in considerable acceleration in the number of surgical procedures in both adult and adolescent indications, driving technology adoption and further enhancing our confidence in Implanet’s growth prospects.”

In € thousands – IFRS*  

1st quarter revenue 2016– 1,988  2015– 1,599   Δ+24%

2nd quarter revenue 2016– 2,107  2015– 1,707   Δ+23%

Total 1st half revenue 2016– 4,094   2015-3,307  Δ+24%

Spine (including JAZZ)  2016-2,012   2015-1,455  Δ+38%

Knee + Arthroscopy  2016– 2,082  2015– 1,852   Δ+12%

*Unaudited data

Q2 2016: record revenue of €2.1 million with Spine activity growing by +68%

In Q2 2016, Implanet recorded a +23% increase in revenue to €2,107 thousand (vs. €1,707 thousand in Q2 2015). Sales from Spine activity grew by +68% to €1,175 thousand (vs. €700 thousand), bolstered by a doubling of JAZZ sales in the United States for the second consecutive quarter, and a solid performance in France (+35%) and the Rest of the world (+45%).

Over the quarter, Implanet sold 1,093 JAZZ units in France, 508 in the United States and 336 in the rest of the world, giving a total of 1,937 units and representing growth by volume of +42%.

Knee activity recorded sales of €932 thousand in Q2 2016 (vs. €1,008 thousand), with the French market accounting for 70% of sales and recording buoyant growth of +51% to €644 thousand (vs. €425 thousand), partially offsetting the level of activity in Brazil, where macroeconomic difficulties are continuing to limit performance.

H1 2016: further ramping of JAZZ sales on a global scale

Implanet’s global activity was up by +24% to €4,094 thousand over the half (vs. €3,307 thousand in H1 2015), driven by a +38% increase in Spine activity to €2,012 thousand (vs. €1,455 thousand in H1 2015) and +12% increase in Knee activity to €2,082 thousand (vs. €1,852 thousand).

In the United States and France, markets on which Implanet markets JAZZ directly, the Company recorded a solid performance based on powerful fundamentals, with a doubling of Spine sales (+101%) to €1,099 thousand (vs. €546 thousand) in the United States and growth of +19% to €637 thousand (vs. €536 thousand) in France.

The Company has accelerated the recruitment of surgeons, with 111 regular users of Jazz technology as of June 30, 2016 (x1.8 vs. June 30, 2015), 64 of them in the United States (x2.2) and 47 in France (x1.4).

Implanet has also continued its acceleration on the high-potential degenerative bone disorder segment. These surgical procedures generated growth of +137% to €520 thousand over the half (vs. €219 thousand). At the same time, the Company has continued to see an increase in JAZZ sales devoted to major deformity (scoliosis) operations on adolescents, recording growth of +57% to €1,128 thousand over the half (vs. €719 thousand).

In the Rest of the world, the fine performance recorded by Spine activity in Q2 2016 (+45%) in part offset the delay in sales seen in Brazil in Q1 2016, which totaled €276 thousand (vs. €373 thousand).

Altogether over H1 2016, Implanet sold 1,805 JAZZ units in France, 773 in the United States and 556 in the rest of the world, giving a total of 3,134 units.

Next financial press release: results for the 1st half of 2016, on September 23, 2016

• 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 48 staff and recorded 2015 sales of €6.7 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 Compartment C of the Euronext™ regulated market in Paris.

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

 

 

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Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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