EOS imaging 2016 Revenue Increases 41% to €30.8 million

PARIS–(BUSINESS WIRE)–EOS imaging (Paris:EOSI) (Euronext, FR0011191766 – EOSI), the pioneer in 2D/3D orthopaedic medical imaging, today announces its consolidated revenue for the fourth quarter and full year ended December 31, 2016.

Marie Meynadier, CEO of EOS imaging, said: “In 2016 we delivered a strong year of execution of our growth strategy. At a commercial level, our teams and partners continued to drive adoption of the EOS solution, including strong growth in the important North American market. We also entered Latin America, supporting the outlook for our business in these markets. At the same time, we continued to develop our product and service offerings through internal and partnership programs, highlighted by the initial roll out of our EOSApps portfolio in the European and North American markets. We look forward to continue building on this strategy in 2017 and further position our unique and cost-effective imaging solutions and software as a key solution for the needs of osteo-articular treatment and orthopedic surgery.”

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• 2016: up 41% to €30.8 million

EOS imaging recorded annual revenue of €30.8 million in 2016, up 41% compared to 2015.

In 2016, the Company sold 60 EOS® systems compared to 44 systems in 2015. Revenue from equipment sales was €25.1 million in 2016, up 40% compared to 2015.

Recurring revenues were €5.7 million, up 44% compared to 2015. Sales of maintenance contracts increased by 50% to €4.69 million. Sales of consumables and services increased by 22% to €1.02 million.

• Strong momentum in all markets, including entry into Latin America market
  

• 							In millions of euros					2016				2015		Change (%)
  							EMEA					11.4				9.19		+25%
  							North America					15.4				10.4		+47%
  							Asia-Pacific					3.24				2.21		+47%
  							Latin America					0.75				–		na
  							Total revenue					30.8				21.8		+41%
  							Non audited data

EOS imaging recorded annual revenue of 15.4 million in North America in 2016, up 47% compared to 2015 and representing 50% of total revenues.

In Europe and the Middle East, EOS imaging recorded annual revenue of €11.14 million, up 25% compared to 2015.

In Asia-Pacific, EOS imaging recorded annual revenue of €3.24 million, up 47% compared to 2015. This increase reflects the reinforcement of the Company’s distribution network that began in early 2016.

During the year, EOS imaging entered the Latin America Market with the signing of the first contract in Brazil. As a result, the Company recorded revenue of €0.75 million in Latin America in 2016.

• Fourth quarter of 2016: up 46% to €10.0 million, driven by 19 systems sold
• 
  

  In millions of euros			2016																					2015
  										Q1						Q2					Q3					Q4					Q1			Q2			Q3							Q4
  							Equipment sales			4.09						7.36					5.46					8.14					2.50			6.00			3.79							5.58
  							% of total revenue			77%						83%					83%					81%					75%			87%			80%							81%
  							Sales of maintenance contracts			0.99						1.23					0.96					1.51					0.63			0.69			0.72							1.05
  							% of total revenue			18%						14%					14%					15%					19%			10%			15%							15%
  							Sales of consumables and services			0.24						0.22					0.19					0.37					0.19			0.19			0.23							0.22
  							% of total revenue			5 %						3%					3%					4%					6%			3%			5%							3%
  							Total revenue			5.33						8.82					6.60					10.0					3.32			6.88			4.74							6.85
  							Non audited data

EOS imaging sold 19 systems and recorded revenue of €10.0 million in the fourth quarter of 2016, up 46% compared with the fourth quarter of 2015.

For more information, please visit www.eos-imaging.com.

EOS imaging has been chosen to be included in the new EnterNext© PEA-PME 150 index, composed of 150 French companies and listed on Euronext and Alternext markets in Paris.

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

About EOS imaging

EOS imaging designs, develops, and markets EOS^®, an innovative medical imaging system dedicated to osteoarticular pathologies and orthopaedics, as well as associated solutions. The Company is authorized to market in 51 countries, including the United States (FDA), Japan and the European Union (EC). The Group posted 2016 revenues of €30.8 million and employs 132 people at December 2016, including an R&D team of 43 engineers. The Group is based in Paris and has five subsidiaries in Besançon (France), Cambridge (Massachusetts), Montreal (Canada), Frankfurt (Germany) and Singapore.

Next press release: 2016 Results, March 22, 2017 (after market close)