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Mar 31, 2021
Establishment Labs Q1 2021 Earnings Report
Reported record first-quarter financial results and raised full-year guidance.
Key Takeaways
Establishment Labs reported a record first quarter with worldwide sales of $30.3 million, a 24% increase year-over-year. The company raised its full-year 2021 revenue guidance to a range of $118 million to $122 million.
First quarter worldwide sales reached $30.3 million, a 24% increase year-over-year and a new quarterly record.
2021 guidance increased to a new range of $118 million to $122 million, reflecting a 39% to 44% increase over 2020.
First quarter operating expenses decreased by 4% compared to the first quarter of 2020, totaling $22.2 million.
The company maintained a strong cash balance of $78.0 million as of March 31, 2021.
Forward Guidance
Establishment Labs raised its full year 2021 revenue guidance to a new range of $118 million to $122 million, which is an annual growth rate of 39% to 44%.
Positive Outlook
- Commercial launch of Motiva Flora tissue expander in Europe on track.
- Timelines for US and China market entry remain unchanged.
- Delivered record first quarter revenue of $30.3 million, which was up 24% from the first quarter of 2020 and 13% sequentially from the fourth quarter of 2020
- Preparing for the commercial launch of our Motiva Flora tissue expander in Europe this summer
- Regulatory and commercial timelines to begin selling Motiva implants in the U.S. and Chinese markets are progressing as planned
Historical Earnings Impact
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