Episurf: Interim Report 1 January - 30 September 2022

2022-11-16 08:30:00

"Following a very turbulent time during the pandemic, with significant volatility between the quarters, we have experienced a positive customer acquisition trend for several consecutive quarters. In the previous CEO statement, I clearly stated that this was a key priority now as we are not only coming out of the pandemic but also having a more commercial focus, as this is the next step for us. Hence, I am pleased with this development. Following growth in our quarterly customer base of 24% and 72% during Q1 and Q2 2022, the customer base grew by 48% in Q3. We are still exposed to significant pandemic-related backlogs of knee replacement patients. Just like last year, we experienced a very low activity level during the European summer months of July and August. This hampered the sales activities during the quarter, so seeing such strong growth in the customer base is very encouraging. We know reasonably well what volumes we can expect in a normalized world. Hence customer acquisition remains a priority", says Pål Ryfors, CEO Episurf Medical.

Third quarter 2022 compared to 2021, Group
  • Gross order intake amounted to SEK 1.5m (1.6)
  • Order book amounted to SEK 1.6m (1.4)
  • Group net sales amounted to SEK 1.4m (1.5)
  • Loss for the period amounted to SEK -17.8m (-15.9)
  • Earnings per share amounted to SEK -0.07 (-0.07)
First nine months 2022 compared to 2021, Group
  • Gross order intake amounted to SEK 5.0m (5.2)
  • Group net sales amounted to SEK 4.8m (5.1)
  • Loss for the period amounted to SEK -53.6m (-50.4)
  • Earnings per share amounted to SEK -0.20(-0.23)
Significant events during the third quarter
  • Episealer® Knee implants were included in the UK NICE guidelines
  • Episurf Medical provided update on 510(k) application
  • Episurf Medical invited investors to a capital markets day on 16 November 2022
  • First Episealer® Talus surgery was performed in Israel
  • Presentation by Prof Karl Eriksson about the Episealer® Knee technology and clinical results at the 5[th] International Conference on Meniscus Science and Surgery in Luxembourg
  • Results from study with Episealer® Knee implant were accepted for presentation at a Swedish, German, Australian, and New Zealand orthopaedic congress
  • Prof. Leif Ryd was a part of the faculty at Orthopaedic Summit 2022: Evolving Techniques

Significant events after the second quarter

Episealer® Knee technology and clinical results to be presented at scientific congress in the US

Cision