Episurf Medical (EPIS) Q1 2025 earnings summary

Executive summary

• Achieved record sales, order intake, and customer base in Q1 2025, with net sales rising to SEK 4.0m from SEK 3.1m year-over-year.

• European sales force expanded via partnership with Joint Operations, expected to triple sales staff in key markets.

• US knee implant sales grew 46% year-over-year; US customer base increased 200%, surpassing strategic targets.

• First surgeries with Johnson & Johnson-affiliated distributors completed, supporting US expansion.

Financial highlights

• Gross order intake reached SEK 3.8m (up from SEK 2.7m year-over-year); order book at SEK 2.4m (up from SEK 2.0m).

• Loss for the period improved to SEK -16.6m from SEK -20.5m; EPS at SEK -0.03 (was SEK -0.07).

• Cash flow from operating activities improved by SEK 7.2m to SEK -15.1m.

• Cash and cash equivalents at period end were SEK 32.6m (SEK 34.6m prior year).

• Equity ratio stable at 78.4%.

Outlook and guidance

• Medium-term target to reach SEK 150–200m turnover and achieve cash flow positivity, requiring annual doubling of sales and order intake.

• Focus on US knee business growth, US launch of Episealer® MTP implant, and European expansion with Joint Operations.

• Cost-saving program expected to yield further improvements as new sales partnership matures.