Fri. Nov 15th, 2019

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ALSGD: SpineGuard (Paris:ALSGD)

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SpineGuard (Paris:ALSGD) (FR0011464452 – ALSGD), an innovative company that deploys its DSG® (Dynamic Surgical Guidance) sensing technology to secure and streamline the placement of bone implants, declared newly fiscal results for the half year ending June 30, 2k19, as approved by the Board of Directors on September 17, 2k19.

Non-recurring Operating loss improves by 51.00 percent at -0.4M€

Non-recurring operating loss improves by 51.00 percent at – €409.00K- vs. – €839.00K and EBITDA improves by 27.00 percent at € -351.00K at June 30, 2k19 contrast to – €483.00K at June 30, 2k18.

Operating costs were €3,332.00K contrast with €3,970.00K for H1 2k18, a decrease of €648.00K (16.00 percent) contrast with June 30, 2k18.

Gross margin of 84.60 percent at June 30, 2k19 remains consistent contrast with prior year result of 86.30 percent. The change mainly reflects a lower 2.0 percent ASP in the USA within the PediGuard Classic range that was partially offset by improved manufacturing costs.

For H1 2k19, the Company stated revenues of €3,445.00K, down 5.0 percent (10.00 percent cc) contrast with H1 2k18.

Revenue in the United States reduced 5.0 percent cc (-11.00 percent stated) to €2,867.00K in the 1st-half of 2k19, contrast with €3,022.00K in the 1st-half of 2k18. In the rest of the world, revenue reduced by 4.0 percent during the 1st-half of 2k19 to €578.00K contrast with €604.00K in the 1st-half of 2k18.

3,875 DSG units were sold in the 1st-half of 2k18 contrast with 4,352 in the 1st-half of 2k18, counting 2,256 in the United States, representing 58.00 percent of total units sold.

Working capital requirements were €919.00K contrast with €806.00K at December 31, 2k18.

At June 30, 2k19, cash and cash equivalents were €988.00K contrast with €1,062.00K at December 31, 2k18, and is explained as follows:

  • Operating cash flow of €(491.00)K contrast with the similar duration previous year of €(566.00)K.
  • Equity funding using the equity line (OCAPI) for a gross amount of €1,000.00K throughout the duration.
  • The payment of interests to Norgine Ventures and Harbert European Growth of €223.00K and to Bpifrance of €31.00K.
  • The repayment of capital to Bpifrance of €150.00K.

The Company’s workforce count is 16 at H1 2k19, contrast to 19 at the end of December 2k18.

Recent events and outlook:

In line with 2k18, the Company maintained strong financial discipline and improved EBITDA by 27.00 percent at €-351.00K as of June 30, 2k19 contrast to €-483.00K in the similar duration of 2k18.

 

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