Establishment Labs (ESTA) Stephens 26th Annual Investment Conference | NASH2024 summary

Company overview and product differentiation

• Focuses on women's health, specifically breast augmentation and reconstruction, with products showing complication rates 10 times lower than competitors.

• Sells in 85 countries, recently expanding into China and the U.S., with all manufacturing in Costa Rica.

U.S. market launch and commercial progress

• Over 300 U.S. accounts onboarded, with 15-20 new accounts added daily and more than 100 already placing orders.

• Targets 2,000-2,500 high-volume U.S. plastic surgeons, with 40 sales reps expected by year-end, each servicing 20-30 accounts.

• Surgeons typically shift majority of their volume over time after initial trials, with women often choosing the product when given options.

Supply chain and manufacturing

• Decommissioned one facility in September, causing short-term Q4 supply constraints, but expects to resolve by Q1 with added shifts and raw materials.

• No supply constraints anticipated for next year, supporting at least $35 million in U.S. sales.