SpineGuard Reports €1.7M Revenue for 3Q 2016, and 9 Months Growth of 15%
October 13, 2016SpineGuard announced today that its third quarter revenue grew to €1.7 million, a 2% increase compared with 3Q 2015.
Pierre Jérôme, CEO and co-founder of SpineGuard, said: “After six consecutive quarters of more than 20% growth in the US, sales growth slowed in the third quarter of 2016. Since the US FDA clearance of the PediGuard Threaded in June, the US team has been actively preparing the commercial launch of this breakthrough product scheduled for the NASS (North American Spine Society) congress at the end of October in Boston. Our sales managers and product specialists are already promoting this very promising new extension of SpineGuard’s DSG technology with agents, surgeons and hospital purchasing committees. We experienced similar situations in the past when launching the PediGuard Curved, the PediGuard Cannulated and the PediGuard XS. In the rest of world, the quarter growth was solid, mainly driven by Europe and the Middle East.”
Global revenue in the third quarter of 2016 increased 2% to €1,678k, compared with €1,646k in the third quarter of 2015. In the USA, the decrease was 3% both as reported and at constant exchange rate (cc), while the rest of the world increased 29%.
For the 9 months, global revenue increased 15% to €5,311k, compared with € 4,616k in the first nine months of 2015. The growth in the United States was 15% at both actual exchange rate and cc.
6,324 PediGuard units were sold in the first nine months of 2015 compared with 5,580 in the first nine months of 2015, including 3,581 in the United States, representing 57% of total units sold.
