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Jun 30, 2020
Establishment Labs Q2 2020 Earnings Report
Financial results for the second quarter ended June 30, 2020 were announced.
Key Takeaways
Establishment Labs reported a challenging quarter impacted by COVID-19, but saw improvement throughout the quarter as countries reopened. Total revenues were $10.5 million, and the company reduced operating expenses by 27% compared to Q1 2020. The company's cash balance at June 30, 2020 was $86.4 million.
Worldwide sales of $10.5 million with steady monthly increases recorded during the quarter.
Q3 2020 revenue expected to be $18 to $21 million.
Operating expenses reduced by 27% compared to Q1 2020.
Strong cash balance of $86.4 million at June 30.
Forward Guidance
Plastic surgeons are reporting strong interest in aesthetic procedures, reinforcing confidence in the long-term fundamentals of the business. The company is in a solid financial position with a strong and adaptable team.
Positive Outlook
- Plastic surgeons all over the world are reporting strong interest in aesthetic procedures from new patients
- Innovation and commitment to women’s health resonate very strongly with plastic surgeons and their patients
- Company has been able to gain market share over the years
- Establishment Labs is in a solid financial position
- Company has a strong and adaptable team
Historical Earnings Impact
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Avg. Return Before/After Earnings
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