Establishment Labs reports Q1 revenue down 20% YoY; narrows operating loss sequentially; reaffirms 2024 guidance

ESTABLISHMENT LABS HOLDINGS INC.

2024-Q1 EPS reported -$0.58 revenue$37,167,000

Q1 2024 revenue $37.2M (down 20% YoY from $46.5M); net loss $16.2M vs $11.9M loss in Q1 2023.
Adjusted EBITDA loss improved to $3.7M from $17.3M in Q4 2023; operating loss $8.8M vs $22.1M in Q4 2023.
Cash balance $73.0M, up $32.9M from Dec 31, 2023 due to private placement; 2024 revenue guidance reaffirmed at $174M-$184M.
Company presented 4-year Motiva US IDE study data with low capsular contracture/rupture rates; expects FDA approval in 2024.
Launched Motiva implants in China and Flora tissue expander in US; cost reduction initiatives lowered SG&A and R&D expenses.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ESTABLISHMENT LABS HOLDINGS INC. reported the three months ended March 31, 2024 results: revenue $37.2 million, net income $16.2 million. Guidance reaffirmed.

Period: the three months ended March 31, 2024
Revenue: $37.2 million
Net income: $16.2 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

and reconstruction, today announced financial results for the first quarter ended March 31, 2024. First Quarter Highlights and Outlook • First quarter worldwide revenue of $37.2 million. • 2024 revenue guidance remains $174 million to $184 million, an increase of 5% to 11% over 2023. Guidance does not include revenue from Motiva Implants ® in the United States,

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Source: SEC EDGAR

accession 0001688757-24-000056

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