Q3 2024 Establishment Labs Holdings Inc Earnings Call Transcript
Key Points
- The approval of Motiva implants in the U.S. has exceeded expectations, with rapid onboarding of new accounts and strong order placements.
- Establishment Labs Holdings Inc (ESTA) has strengthened its balance sheet with a $25 million credit facility and a $50 million equity raise.
- The company has significantly reduced its cash loss by over 60% compared to the previous year, despite increased investments in the U.S.
- The U.S. launch of Motiva implants is expected to generate over $35 million in revenue in 2025, indicating strong growth potential.
- Mia Femtech is creating a new category in breast aesthetics, attracting new customers with a shorter consideration period and higher price points.
- Global demand remains uneven due to macroeconomic pressures, with significant underperformance in Latin America, particularly Brazil.
- The company faces short-term supply challenges due to the decommissioning of a manufacturing facility, impacting Q4 performance.
- Gross profit margins have decreased compared to the previous year, partly due to currency revaluation impacts.
- The company's net loss from operations remains significant, although it has improved compared to the previous year.
- The approval of Motiva implants in the U.S. came 6 to 8 weeks later than expected, affecting revenue guidance for the year.
Good afternoon. Welcome to establishment labs, third quarter, 2024 earnings conference call. At this time, all participants will be in a listen-only mode. At the end of this call, we will open the line for a question and answer session and instructions will follow at that time.
As a reminder, today's call is being recorded. I will now turn the call over to your host, Raj Denhoy, Chief Financial Officer. Please go ahead.
Thank you operator and thank you for joining us with me. Today is Juan is a Aon Quiros, our Chief Executive Officer following our prepared remarks. We'll take your questions before we begin. I would like to remind you that comments made by management during this call will include forward-looking statements within the meetings of federal securities laws.
These include statements on establishment labs', financial outlook, and the company's plans and timing for product development and sales.
These forward-looking statements are based on management's
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