In This Article:
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Growth acceleration to continue in Q3 2024: +20% globally and +30% in the US
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Revenue up +13% over the first 9 months, to €3.6 million
PARIS & BOULDER, Colo., October 09, 2024--(BUSINESS WIRE)--Regulatory News:
SpineGuard (FR0011464452 – ALSGD), an innovative company that deploys its DSG® (Dynamic Surgical Guidance) local conductivity sensing technology to secure and streamline the placement of bone implants, today announced its third quarter 2024 revenue.
Pierre Jérôme, Co-founder, Chairman and CEO of SpineGuard, stated: "SpineGuard sales growth continued to accelerate in the third quarter 2024, up 20%, driven by the strengthened and now well-established US commercial structure and our partnership with Omnia Medical. The CE-MDR certification obtained early September for the utilization in Europe of the Threaded PediGuard for scoliosis correction via anterior approach and the clearance in the United States recently announced of the "PsiFGuard" device co-developed with Omnia Medical to secure the sacroiliac fusion, constitute two major regulatory steps that will enable us to sustain our commercial momentum moving forward. These two new DSG technology applications are indeed particularly promising given the market opportunities they represent. We already received extremely positive feedback from early adopters. All these advances confirm, once again, that we are on track to reach our goal of financial breakeven in the course of 2026."
Q3 2024 revenue
| € thousands – IFRS (Unaudited) | 2024 | 2023 | Variance |
| First Quarter | 1,351 | 1,271 | +6% |
| Second Quarter | 1,094 | 963 | +14% |
| Third Quarter | 1,174 | 978 | +20% |
| Year-To-Date 9 months | 3,619 | 3,211 | +13% |
SpineGuard’s consolidated revenue sets at € 1,174K in Q3 2024, up 20% compared to Q3 2023, bringing revenue for the first nine months of 2024 to € 3,619K, up 13% over € 3,211K recorded for the corresponding period in 2023.
In the United States, the third quarter 2024 revenue is up 30% in USD, to $ 947K from $ 728K, mainly spurred by the recovery driven by the now well-established American team and a large order from Omnia Medical. In the rest of the world, the third quarter 2024 revenue grew by 1%.
4,813 DSG units were sold in the first nine months of 2024 vs. 4,395 units in the first nine months of 2023, representing an overall growth of 10% in units sold. 1,987 units were sold in the United States representing 41% of total units.
Q4 2024 outlook
In the fourth quarter of 2024, SpineGuard will continue to focus on sustaining its sales momentum, by relying on the introduction of its new products on the market, the Threaded PediGuard for scoliosis correction via anterior approach recently CE marked, and the PsiFGuard device co-developed with Omnia Medical for sacroiliac fusion which just obtained FDA clearance. The Company is also pursuing the registering process of the whole PediGuard product range in China. Moreover, SpineGuard is working on building new strategic partnerships and on strengthening its financial position.