The following is a summary of the Establishment Labs Holdings Inc. (ESTA) Q1 2024 Earnings Call Transcript:
Financial Performance:
Establishment Labs reported Q1 revenue of $37.2 million, and an adjusted EBITDA loss of less than $4 million, a significant improvement from a previous loss of $17 million.
The first quarter gross profit was reported as $24.4 million, or 65.6% of revenue.
SG&A expenses for Q1 declined approximately $2.8 million to $28.9 million.
R&D expenses also declined by approximately $2.2 million to $4.3 million compared to the same quarter of the previous year.
The net loss from operations for Q1 was $8.8 million.
The cash position at the end of Q1 was $73 million, and revenue guidance for 2024 is set at $174 million to $184 million.
Business Progress:
Establishment Labs launched Motiva implants in China and Flora tissue expander in the US.
The company made significant progress towards US approval of Motiva implants.
Mia Femtech is advancing, with new centers opening in the Middle East and Latin America.
Establishment Labs has entered the Chinese market, and the pending US launch of Motiva implants is expected to significantly boost the company.
The company is confident of achieving a revenue run rate of $1 million per Mia partner clinic and is continuing to expand its network in European and distributor markets.
More details: Establishment Labs IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.