(AOF) – Spineway announces having achieved a turnover of 10.5 million euros in 2023, an increase of 42% compared to 2022. The medtech specifies that the gross margin is “maintained” at 69 %, stable compared to 2022, while the net loss widens to 6.51 million euros compared to 3.13 million the previous year. At the end of December 2023, Spineway’s cash position amounts to 1.8 million euros. The group’s management has initiated austerity measures which will result in a constrained operational expenditure budget and the reduction of around ten positions in its workforce.
Spineway also plans to postpone investments dedicated to very expensive projects for which financing is not yet assured.
The measures taken, combined with a solid business base and a good level of gross margin, should enable the group to “recover in the medium term the operational balance and the path to profitability necessary to sustain its cash flow needs.” and the deployment of its strategic plan for innovation and commercial growth”, estimates Spineway.
It says it is “confident in the development potential of its turnover in 2024”, which “should allow the financing of its growth and innovation by non-dilutive means in the medium term”.
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