April 07, 2016

MEDTECH REPORTS REVENUE GROWTH OF 81% TO €3.1 MILLION FOR FISCAL THIRD QUARTER 2015/16

Montpellier, France, April 7, 2016 – MEDTECH (Euronext, FR0010892950 – ROSA), a company specialized in designing, developing and marketing surgical robots, has today announced its revenue for the fiscal third quarter of 2016 (3 months period ended March 31, 2016).

In thousands of euros 2014/2015 2015/2016
H1 Revenue (July 1 to September 30) 1688 3960
Q3 Revenue (January 1 to March 31) 1720 3105
9 Month Revenue (July 1 to March 31) 3408 7065

 

Steady growth momentum throughout Q3

During the 3rd quarter of the 2015/16 fiscal period, Medtech continued to expand with steady progress in revenue of €3.1 million, up 81% compared with the same period in the prior year. With the sale of 10 new ROSA® systems during the quarter (7 in the United States, 2 in China and 1 in France), Medtech has pursued its strategy to increase market share. Furthermore, this quarter Medtech recorded the first sale of its ROSATM Spine robot in the United States, following FDA clearance in January 2016.

At the end of the first 9 months of the 2015/16 fiscal period, Medtech reported revenue of €7.1 million, up 107% compared to the same period in the prior year.

Third quarter revenue from the sale of service contracts was €310,000 compared with €228,000 for the same period in the prior year.

At the end of March 2016, the fleet of ROSA® systems delivered worldwide was 69, including 21 delivered over the first 9 months of the 2015/16 fiscal period, demonstrating the Company’s steady execution of its commercial expansion strategy.

Cash available as of March 31, 2016 was €20.2 million, compared with €23.8 million as of December 31, 2015 and €12.6 million as of March 31, 2015.

Bertin Nahum, CEO and Founder of Medtech said, “Our fiscal third quarter performance clearly illustrates the growth momentum to which we are committed and confirms our strategy to conquer new markets, especially on an international scale.”