(Boursier.com) — SMAIO a French player specializing in complex spinal surgery with a global offer made up of software, implantable devices and associated services, today published its 2022 annual results approved by the Board of Directors on April 11, 2023.
The increase in turnover for 2022 is 15% to 2.4 ME, driven by international activities. The group underlines the significant improvement in the margin on cost of sales to 63%, against 55% in 2021 thanks to an increased presence in high value-added markets. The exceptional result is +6.6 ME, resulting from the abandonment of the current account held by the Otsuka Group in favor of SMAIO.
After taking into account a research tax credit of 0.3 million euros, the net profit for 2022 is a profit of 2.8 million euros against a loss of 3.1 million euros over the same period. 2021.
Solid financial structure
Cash at December 31, 2022 amounted to 5.69 ME, compared to 0.57 ME at December 31, 2021. This strengthening is explained by the integration of the net proceeds of 7.5 ME from the capital increase carried out on the occasion of the IPO of SMAIO on Euronext Growth in April 2022. This level of cash makes it possible to cover the financing needs related to the developments presented to the financial community on the occasion of this fundraising.
The level of equity stood at 9.75 ME as of December 31, 2022 compared to -0.62 ME as of December 31, 2021.
As a reminder, on February 1, 2022, Otsuka announced the cessation of its orthopedic activities and took the decision to transfer its shares to the Vice-President in charge of SMAIO Operations, as well as its current account, to the sole other shareholder of SMAIO, Sylorus Scientific. It has also taken the decision to completely cancel the current account debt vis-à-vis SMAIO, thus completely reducing the company’s debt.
Philippe Roussouly, Chairman and CEO of SMAIO, declared: “The year 2022 enabled SMAIO to consolidate its foundations which should enable it to achieve the main objectives for 2023: to develop its surgical planning software solutions in new countries and above all Accelerate penetration of the North American market, the world’s largest spine market, by strengthening our presence there during 2022 by obtaining two 510(k) registrations and carrying out educational programs and first surgeries. In addition, since our initial public offering which has helped to strengthen our financial structure, we continue to cooperate closely with our partner and shareholder NuVasive, a US leader in technological innovations for the spine. achieve, during the first half of 2023, a first milestone of $3 million as part of this collaboration, as well as recurring revenues thanks to imaging analysis services provided by SMAIO operators for NuVasive customers. We are therefore approaching 2023 with confidence by focusing on the ramping up of our international development strategy, particularly in the United States.”
Upcoming financial news:
-Annual General Meeting: June 20, 2023
– Turnover for the 1st half of 2023: July 18, 2023 (after market)
-Results for the first half of 2023: October 18, 2023 (after market)