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Jun 30, 2023
Establishment Labs Q2 2023 Earnings Report
Reported record second quarter financial results with revenue increase and ongoing strategic initiatives.
Key Takeaways
Establishment Labs reported a record second quarter with a revenue of $48.6 million, an 18% increase year-over-year. The company is progressing with its U.S. PMA approval and commercialization preparations, alongside the global roll-out of Mia Femtech. A new Sulàyöm Innovation Campus was opened to expand manufacturing capacity and R&D capabilities.
Second quarter worldwide revenue reached a record $48.6 million, up 18.0% year-over-year.
2023 revenue guidance remains between $200 million and $210 million, representing a 24% to 30% increase over 2022.
Second quarter loss from operations was $13.7 million, compared to $10.4 million in the year-ago period.
Cash balance totaled $90.2 million as of June 30, 2023.
Forward Guidance
Establishment Labs anticipates a strong finish to the year, driven by the global roll-out of Mia Femtech and the pending approval of Motiva in China. The company's U.S. PMA is progressing through the approval process, and preparations for commercialization are underway.
Positive Outlook
- Ongoing global roll-out of Mia Femtech
- Pending approval of Motiva in China
- U.S. PMA progressing through the approval process
- Preparations for commercialization continue in earnest
- Fourteen Mia clinic partners established
Challenges Ahead
- Not mentioned
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