SMAIO (ALSMA) H2 2024 earnings summary

Executive summary

• Sales surged 114% year-over-year to €5.5 million in 2024, with Q1 2025 sales up 140% to €2.5 million, driven by rapid US market expansion.

• US sales now represent 53% of total revenue, reflecting successful adoption of Kheiron system implants and custom rods.

• Strategic focus on the US market, supported by a new North American scientific board and expansion of reference centers.

Financial highlights

• 2024 sales reached €5.5 million, up from €2.6 million in 2023 (excluding a €2.8 million milestone payment).

• Gross margin on implant sales improved to 79% in 2024, up 8 points from 2023.

• EBITDA loss reduced by 33% to -€1.8 million in 2024 from -€2.6 million in 2023.

• Net loss for 2024 was €2.3 million, after accounting for R&D amortization and tax credits.

• Cash position at year-end 2024 was €3.2 million, down from €6.9 million at end-2023.

Outlook and guidance

• Continued commercial expansion in the US, with ongoing registration in five new North American centers.

• Ongoing investments in AI integration for surgical planning solutions.

• Targeting profitable and sustainable growth, with a focus on innovation and market leadership in spinal realignment.