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Sep 30, 2023
Establishment Labs Q3 2023 Earnings Report
Reported a slight increase in revenue and updated 2023 revenue guidance, while experiencing a wider loss from operations compared to the previous year.
Key Takeaways
Establishment Labs reported a slight increase in third-quarter revenue, up 0.8% year-over-year to $38.5 million. The company updated its 2023 revenue guidance to approximately $165 million, representing a 2% increase over 2022. However, the loss from operations widened to $21.0 million, and the net loss increased to $29.3 million.
Third quarter worldwide revenue increased 0.8% year-over-year to $38.5 million.
2023 revenue guidance updated to approximately $165 million, an increase of 2% over 2022.
Third quarter loss from operations was $21.0 million.
Cash balance of $52.2 million as of September 30, 2023.
Forward Guidance
Establishment Labs updated its 2023 revenue guidance to approximately $165 million, an increase of 2% over 2022.
Positive Outlook
- Expected China approval in 2023.
- Taking market share globally.
- Launch of Motiva into the US and China.
- Global rollout of Mia Femtech.
- Expect strong growth for many years to come.
Challenges Ahead
- Lower demand for breast procedures globally.
- Cycles of reduced demand in our industry are transitory.
- Removed China approval from forecasts.
- Loss from operations was $21.0 million compared to a loss of $10.5 million in the year-ago period.
- Cash decreased $14.2 million from December 31, 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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