Establishment Labs Announces Preliminary Unaudited Results for First Quarter 2023
25 April 2023 - 6:41AM
Business Wire
Establishment Labs Holdings Inc. (NASDAQ: ESTA) (the “Company”),
a global medical technology company dedicated to improving women’s
health and wellness, principally in breast aesthetics and
reconstruction, today announced preliminary unaudited financial
results for the first quarter of 2023.
In the three months ended March 31, 2023, the Company’s revenue
is expected to be approximately $46.5 million, as compared to $38.5
million for the three months ended March 31, 2022. As of March 31,
2023, the Company’s cash balance is expected to be approximately
$42.8 million, and the principal and interest outstanding under the
Company’s credit facility is expected to be approximately $184.0
million.
The preliminary revenue results provided in this release have
yet to be audited and are subject to change.
About Establishment Labs
Establishment Labs Holdings Inc. is a global medical technology
company dedicated to improving women’s health and wellness through
the power of science, engineering, and technology. The Company
offers a portfolio of Femtech solutions for breast health, breast
aesthetics and breast reconstruction. The over three million
Motiva® devices Establishment Labs has delivered to plastic and
reconstructive surgeons since 2010 have created a new standard for
safety and patient satisfaction in the 85 countries in which they
are available. The Motiva Flora® tissue expander is the only
regulatory-approved expander in the world with an integrated port
that is MRI conditional and is used to improve outcomes in breast
reconstruction following breast cancer. Mia Femtech™, Establishment
Lab’s unique minimally invasive experience for breast harmony, is
the Company’s most recent breakthrough innovation. These solutions
are supported by over 200 patents and patent applications in 25
separate patent families worldwide and over 50 scientific studies
and publications in peer reviewed journals. Establishment Labs
manufactures at two facilities in Costa Rica compliant with all
applicable regulatory standards under ISO13485:2016 and FDA 21 CFR
820 under the MDSAP program. In 2018, the Company received an
investigational device exemption (IDE) from the FDA for Motiva
Implants® and began a clinical trial to support regulatory approval
in the United States. Please visit our website for additional
information at www.establishmentlabs.com.
Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”). You can find many (but not all) of
these statements by looking for words such as “approximates,”
“believes,” “expects,” “anticipates,” “estimates,” “intends,”
“plans,” “intends to,” “would,” “will,” “may” or other similar
expressions in this press release. Any statements that refer to
projections of our future financial or operating performance,
anticipated trends in our business related to the Company’s
performance are forward-looking statements. We claim the protection
of the safe harbor contained in the Private Securities Litigation
Reform Act of 1995. We caution investors that any forward-looking
statements presented in this press release, or that we may make
orally or in writing from time to time, are expressions of our
beliefs and expectations based on currently available information
at the time such statements are made. Such statements are based on
assumptions, and the actual outcome will be affected by known and
unknown risks, trends, uncertainties, and factors that are beyond
our control. Although we believe that our assumptions are
reasonable, we cannot guarantee future performance, and some will
inevitably prove to be incorrect. As a result, our actual future
results and the timing of events may differ from our expectations,
and those differences may be material. Factors, among others, that
could cause actual results and events to differ materially from
those described in any forward-looking statements include risks and
uncertainties relating to: our ability to successfully, timely and
cost-effectively develop, seek and obtain regulatory clearance for
and commercialize our product offerings; the rate of adoption of
our products by healthcare providers or other customers; the
success of our marketing initiatives; the safe and effective use of
our products; our ability to protect our intellectual property; our
future expansion plans and capital allocation; our ability to
expand upon and/or secure sources of credit or capital; our ability
to develop and maintain relationships with qualified suppliers to
avoid a significant interruption in our supply chains; our ability
to attract and retain key personnel; our ability to scale our
operations to meet market demands; the effect on our business of
existing and new regulatory requirements; and other economic and
competitive factors. These and other factors that could cause or
contribute to actual results differing materially from our
expectations include, among others, those risks and uncertainties
discussed in the Company’s quarterly report and annual reports, and
other filings made by the Company with the Securities and Exchange
Commission. The risks included in those documents are not
exhaustive, and additional factors could adversely affect our
business and financial performance. We operate in a very
competitive and rapidly changing environment. New risk factors
emerge from time to time, and it is not possible for us to predict
all such risk factors, nor can we assess the impact of all such
risk factors on our business or the extent to which any factor, or
combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements.
We are not undertaking any obligation to update any forward-looking
statements. Accordingly, investors should use caution in relying on
past forward-looking statements, which are based on known results
and trends at the time they are made, to anticipate future results
or trends.
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version on businesswire.com: https://www.businesswire.com/news/home/20230424005883/en/
Investor/Media Contact Raj Denhoy 415-828-1044
rdenhoy@establishmentlabs.com
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