SMAIO (ALSMA) Q2 2024 TU earnings summary

Executive summary

• First-half 2024 sales reached €2.2 million, down from €4.0 million in H1 2023 due to a one-time €2.8 million milestone payment last year.

• Excluding the milestone payment, core business sales (implants and instruments) grew by 81% year-over-year.

• Strong commercial momentum in the US, with sales more than doubling compared to H2 2023, reaching over €800 thousand.

Financial highlights

• Implant sales rose 84% year-over-year to €2.1 million.

• US sales of the Kheiron implant system reached €823 thousand in H1 2024, more than double H2 2023.

• Instruments sales increased 31% to €717 thousand year-over-year.

• Keops licenses grew 39% to €50 thousand.

• Total group sales declined 45% year-over-year due to the absence of the prior year’s milestone payment.

Outlook and guidance

• Focus on accelerating US market expansion, with ongoing surgeon training and new hospital registrations.

• Continued investment in AI-driven functionalities for the i-Kontrol planning solution.

• Sustained growth momentum expected in upcoming semesters.

• Next financial results scheduled for October 15, 2024.