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Edge20 Feb 2026
Dollar General: The Rural Retailer Playbook
How Dollar General built a small-box empire across rural America, scaling value and convenience into one of retail's most durable business models.
Spineway
Spineway (ALSPW) investor relations material
Spineway Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary17 Feb, 2026
Executive summary
Revenue increased by 4% year-over-year to €12.4 million, driven by geographic diversification and new product launches.
Gross margin improved to 69.6% of revenue, up 0.6 percentage points from the previous year.
Operating loss remained stable at €2.1 million, reflecting controlled expenses despite ongoing regulatory investments.
Net loss narrowed by €1.6 million year-over-year to €2.2 million, aided by lower financial expenses and normalized tax credits.
Cash position at year-end was €3.5 million, with net cash of €2 million after debt.
Financial highlights
Revenue: €12.4 million in 2025, up from €11.95 million in 2024.
Gross margin: €8.6 million (69.6% of revenue), up from €8.25 million (69.0%) in 2024.
Net operating expenses: €10.8 million, up 5% year-over-year (pro forma).
Operating loss: €2.1 million, nearly unchanged from €2.0 million in 2024 (pro forma).
Net loss: €2.2 million, improved from €3.9 million in 2024.
Outlook and guidance
Regulatory expenses are expected to increase further in 2026 due to ongoing approvals and clinical studies.
Continued investment in R&D, marketing, and regulatory affairs to support growth ambitions.
2026 regulatory expense increase outlook?
Mitigate Latin America/Asia delays plan?
Future financing strategy post-Negma?
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Next Spineway earnings date
Q1 202615 Apr, 2026
Spineway
Next Spineway earnings date
Q1 202615 Apr, 2026
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Frequently asked questions
Spineway SA is a French medical technology company that specializes in the design, production, and marketing of implants and surgical instruments used in spinal surgery. The company's product portfolio includes spinal systems, cervical and lumbar cages, cervical plates, and bone substitutes, among other items. These products are designed to address a variety of spinal conditions and are used in complex spinal surgeries. Spineway operates internationally, with its products distributed across Europe, Latin America, Asia, the Middle East, and Africa. The company is headquartered in Écully, France, and its shares are listed on the Euronext Paris.
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