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Jun 30, 2021
Establishment Labs Q2 2021 Earnings Report
Reported record second quarter financial results and raised full year guidance.
Key Takeaways
Establishment Labs reported a record second quarter revenue of $32.0 million, a 205% increase year-over-year. The company raised its full year 2021 revenue guidance to a new range of $122 million to $126 million.
Second quarter worldwide sales reached $32.0 million, a 205% increase year-over-year.
2021 guidance increased to a new range of $122 million to $126 million, representing a 44% to 49% increase over 2020.
Second quarter operating expenses were $26.1 million, a 55% increase compared to the second quarter of 2020.
Total net cash burn was $1.1 million in the second quarter, with a cash balance of $76.8 million as of June 30, 2021.
Forward Guidance
The company raised its full year 2021 revenue guidance to a new range of $122 million to $126 million.
Positive Outlook
- Strong second quarter revenue growth of 205% year-over-year.
- Increased full year 2021 revenue guidance.
- Publication of landmark study showing superior biocompatibility of Motiva® SmoothSilk® implant technology.
- Expanding marketing and commercial activities with Motiva Ergonomix2®.
- Continuing commercial launch of Motiva Flora® tissue expander in Europe.
Challenges Ahead
- Ongoing challenges from the pandemic.
- Net loss from operations for the second quarter was $5.3 million.
- Cash decreased $7.7 million from December 31, 2020.
- Total operating expenses for the second quarter were $26.1 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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