Year-end Report 1 January – 31 December 2023
- Continued stable growth despite restructuring of commercial organization, and satisfactory start in the US with significant opportunities ahead
- Restructuring program completed with planned cost reduction expected 2024
- 510(k)-process ongoing with US FDA for big toe implant
“Despite significantly restructuring our sales force, we ended the year with another record quarter. On average, we have grown our gross order intake by more than 50% during the last five quarters. During 2023, the gross order intake reached SEK 11.1m (+56%). The usage of our technology increased globally and during the fourth quarter, we had a daily usage average of more than 1.4 surgeries per day, Monday to Sunday. Our OUS markets drive this, where we continue to focus on driving clinical acceptance and increasing market penetration, now with an increased focus on distributor sales. In the US, more than one surgery per week has been scheduled since the first booked surgery in August 2023, and we look forward to increasing the pace. All the above is balanced with a continued strong focus on clinical development and product development,” says Pål Ryfors, CEO Episurf Medical.
Fourth quarter 2023 compared to 2022, Group
» Gross order intake amounted to SEK 3.1m (2.2)
» Group net sales amounted to SEK 3.0m (1.8)
» Loss for the period amounted to SEK -21.9m (-23.7)
» Earnings per share amounted to SEK -0.08(-0.09)
Twelve months 2023 compared to 2022, Group
» Gross order intake amounted to SEK 11.1m (7.1)
» Group net sales amounted to SEK 10.3m (6.6)
» Loss for the period amounted to SEK -94.8m (-77.3)
» Earnings per share amounted to SEK -0.36 (-0.29)
Significant events during the fourth quarter 2023
» First commercial case in the US was performed
» Episurf Medical has filed 510(k) submission for big toe implant
Significant events after the quarter
» Results from up to 10 years follow-up of Episealer® patients were accepted for presentation