EOS imaging Reports Third Quarter 2018 Sales

Continued momentum in Asia-Pacific and North America, offset by delayed
timing of capital sales in EMEA

  • Strong commercial traction in Q3 in North America (+23% sales growth,
    excluding forex impact) and in Asia-Pacific (+47%)
  • Delays in sales continuing to impact EMEA, with commercial catch-up
    anticipated next quarter
  • €25.5 million of consolidated sales for the 9-months ended September
    30, 2018 (+5% excluding forex impact)
  • Strong dynamics anticipated in fourth quarter expected to drive solid
    growth for full year 2018

PARIS–(BUSINESS WIRE)–Regulatory News:

EOS imaging (Paris:EOSI) (Euronext, FR0011191766 – EOSI – Eligible PEA –
SME), the pioneer of 2D/3D imaging and data solutions for orthopedics,
today announced its (non-audited) consolidated sales for the third
quarter ended September 30, 2018.

Marie Meynadier, Chief Executive Officer of EOS imaging, commented, “We
continue to build a solid foundation for future growth with strong
commercial traction, particularly in the North America and Asia-Pacific
regions. This continued momentum was partially offset by temporary
delays with several accounts, primarily in EMEA. We view this timing
setback as short-term and anticipate a strong catch up in the last
quarter of the year, leading to a solid growth for the full year. We are
confident and committed to accelerating growth across all three of our
major markets as we continue to see our solutions gain traction amongst
hospitals and private practices.

  • Nine Month 2018 Sales by Product Line
Sales / non-audited / € millions

As of September, 30

  9M 2018   9M 2017   % Change  

% Change
excl. forex
impact

Equipment Sales   19.10   19.89   -4%   -1%

As % of total sales

  75%   80%        

Sales of Maintenance

 

5.76

4.29

+34%

+39%

As % of total sales

 

23%

 

17%

       

Sales of consumables and services

 

0.65

 

0.74

 

-12% -12%

As % of total sales

 

2%

 

3%

       
Total Sales 25.51 24.93 +2% +5%
 

In the first nine months of 2018, EOS imaging generated revenue of €25.5
million, up +2% including forex impact compared to same period prior
year, and €26.3 million, up +5%, excluding forex impact.

46 EOS® systems have been sold year-to-date (vs. 51 for the same period
last year), with a solid average selling price. Total revenues from
equipment sales was €19.1 million, compared to €19.9 million in the same
period in 2017.

Due to the increased installed base of EOS® systems, recurring revenues
grew +27% to €6.4 million, including €5.8 million in maintenance revenue
(+34%) and €0.7 million in consumables and services revenues.

  • Nine Month 2018 Sales by Geography

Revenues / non-audited / € millions
As of September
30

  9M 2018   9M 2017       % change
(excl. forex
impact)
EMEA   8.19   11.52 -29%
North America 10.86 9.18 +18% (+27%)
Asia-Pacific 5.75 4.23 +36%
LATAM   0.71  
Total revenues   25.51   24.93 +2% (5%)
 

Total revenues for the first nine months of 2018 benefited from the
strong commercial traction in North America and Asia-Pacific and were
partially offset by continued delays in EMEA regions,
where revenue
decreased -29% primarily attributed to the three largest EMEA markets of
the company (France, United Kingdom, and Germany). In this area, several
sales were delayed and are expected to contribute to a strong commercial
catch-up in the fourth quarter of 2018.

  • Third Quarter Sales by Product Line
Revenues / non-audited / € millions   Q3 2018   Q3 2017       % change
Equipment sales   5.49   6.74       -19%
Sales of maintenance   2.30   1.47       +56%
Sales of consumables and services   0.17   0.25       -32%
Total sales   7.96   8.46       -6%
 

In the third quarter of 2018, the Company generated revenue of €7.96
million, down 6% compared to the third quarter of 2017 (4% excluding
forex impact).

The Company sold 12 EOS® systems during the third quarter of 2018,
compared to 17 systems in the same period last year. Revenue from
equipment sales was €5.5 million, down 19% compared to 2017.

Recurring revenues grew +44% to €2.5 million and represented 31% of
total sales compared to 20% of total sales in the same period last year.
This includes €2.3 million in maintenance revenue (+56%) and €0.2
million revenue of consumables and services.

About EOS imaging

EOS imaging designs, develops and markets EOS®, a major innovative
medical imaging solution dedicated to osteoarticular pathologies and
orthopedics combining equipment and services and targeting a $2B per
year market opportunity. EOS imaging is currently present in 33
countries, including the United States under FDA agreement, Japan, China
and the European Union under CE labelling, through the over 280
installed EOS® platforms representing around one million patient exams
every year. Revenues were €37.1M in 2017, e.g. a +32% CAGR over
2012-2017. For more information, please visit www.eos-imaging.com.

EOS imaging has been selected to integrate the EnterNext © PEA – PME
150 index, composed of 150 French, listed companies on the Euronext
markets in Paris.

EOS imaging is listed on Compartment C of Euronext Paris
ISIN:
FR0011191766 – Ticker: EOSI

Contacts

EOS imaging
Marie Meynadier
CEO Ph: +33 (0)1 55 25 60 60
investors@eos-imaging.com
or
Investor
Relations (US)

Matt Picciano / Emma Poalillo
The Ruth Group
Ph:
646-536-7008 / 7024
EOS-imagingIR@theruthgroup.com
or
Press
Relations (US)

Kirsten Thomas
The Ruth Group
Ph:
508-280-6592
kthomas@theruthgroup.com

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