Loading...
01/11 03:39
Loading...
Access earnings results, analyst expectations, report, slides, earnings call, and transcript.
The earnings call highlights strong financial performance with record high revenue, positive EBITDA, and increased cash position. The company raised its revenue guidance and expects continued growth in the U.S. and international markets. The Q&A session confirmed positive momentum, strong market share goals, and strategic expansions. Despite some uncertainties, the overall sentiment is very positive, especially with significant growth expectations and strategic initiatives in place. Given the company's small-cap status, a strong positive stock price reaction is anticipated.
Global Revenue $53.8 million in Q3 2025, a 34% increase year-over-year. The growth was driven by meaningful revenue growth in the U.S. and other direct markets.
U.S. Revenue $11.9 million in Q3 2025, up 16% sequentially. This growth is notable as Q3 is typically a seasonally slower quarter for breast procedures, which can decline 20%-30% sequentially.
Gross Profit Margin 70.1% in Q3 2025, a 620 basis point increase from 63.9% in Q3 2024. The improvement is attributed to higher-margin sales in the U.S.
Adjusted EBITDA $1.2 million in Q3 2025, compared to a loss of $8.5 million in Q2 2025 and $12.1 million in Q1 2025. This marks the first positive EBITDA quarter in the company's history, driven by strong sales and higher gross profit in the U.S.
Operating Expenses $41.7 million in Q3 2025, an increase of $2.9 million year-over-year. The increase is due to investments in U.S. commercial operations and the minimally invasive portfolio.
Cash Position $70.6 million at the end of Q3 2025, up from $54.6 million at the end of Q2 2025. The increase was primarily due to drawing the remaining $25 million tranche of the credit facility, offset by operating cash use.
European Direct Market Sales Increased approximately 20% in Q3 2025 compared to Q3 2024, excluding the benefit of currency and the acquisition of the Benelux distributor. This growth reflects the benefits of implemented changes.
Asia-Pacific Sales Rebounded sharply with a sequential growth of 46% in Q3 2025, as expected orders from distributors were realized.
Preserve minimally invasive procedure: Preserve is a breast tissue-preserving procedure that can be done without general anesthesia, offering smaller scars and fast recovery. Surgeons have embraced this new concept, and it has driven category growth and improved economics for surgeons. Early adoption has been positive, with 300 cases performed in the U.S. and growing waitlists.
Flora Tissue Expander: Flora Tissue Expander is now in use at over 150 hospitals in the U.S., supporting the expected launch into breast reconstruction. The company remains on track to file a PMA supplement by the end of the year.
U.S. market growth: The U.S. business is the most important growth segment, with Q3 revenue of $11.9 million, up 16% sequentially. The company expects to achieve a 20% share in the U.S. breast augmentation market by the end of 2025.
International market growth: Direct markets outside the U.S. grew 15% versus last year, with strong performances in Europe, Latin America, and Asia-Pacific. European direct market sales increased approximately 20% this quarter over Q3 2024.
Positive EBITDA: Achieved the first quarter of positive EBITDA in company history with $1.2 million in Q3 2025. The company expects to remain EBITDA positive moving forward.
Gross profit margin: Exceeded 70% gross profit margin for the first time, reaching 70.1% in Q3 2025, driven by higher-margin sales in the U.S.
Market expansion through innovation: The company is leveraging its minimally invasive portfolio, including Preserve and Mia, to expand the breast augmentation market. The portfolio is expected to exceed $30 million globally in 2026.
Surgeon engagement and training: Over 250 surgeons have been trained in Costa Rica since launch, with plans to continue training sessions in 2026. This initiative aims to increase adoption of Motiva implants and Preserve procedures.
Regulatory Approvals: The company is preparing for U.S. approval in the breast reconstruction segment and filing a PMA supplement by the end of the year. Delays or issues in obtaining these approvals could impact growth plans.
Market Competition: The company faces competitive pressures from legacy brands in the breast augmentation market. Convincing surgeons to offer Motiva implants and patients to choose them over legacy brands is critical for market share growth.
Economic Conditions: Economic uncertainties could impact consumer spending on elective procedures like breast augmentation, potentially affecting revenue growth.
Supply Chain and Tariffs: Goods imported from Costa Rica to the U.S. are subject to duties, which could impact gross margins if not managed effectively.
Cash Flow and Financing: The company aims to reach cash flow positive in 2026 without further equity raises. Any failure to achieve this could necessitate additional financing, impacting financial stability.
Operational Efficiency: The company has made structural changes to manage operating expenses. Inefficiencies or failure to maintain cost controls could impact profitability.
Surgeon Adoption and Training: The success of new procedures like Preserve depends on surgeon adoption and training. Delays or challenges in scaling training programs could hinder market expansion.
Geopolitical and Currency Risks: Sales in international markets are subject to currency fluctuations and geopolitical risks, which could impact revenue and profitability.
Revenue Guidance for 2025: The company has raised its 2025 revenue guidance to exceed $210 million, up from the previous range of $208 million to $212 million. This represents growth of at least 26%.
U.S. Market Growth: The U.S. business is expected to accelerate significantly in Q4 2025, with the company projecting to finish 2025 with an approximate 20% share in the U.S. breast augmentation market. Growth in the breast reconstruction segment is anticipated following expected approval and launch in 2026.
Minimally Invasive Portfolio: The Preserve procedure is expected to drive category growth and improve surgeon economics, with a 40% price premium over standard breast augmentation. The company plans to expand Preserve training sessions in 2026, with two sessions scheduled for Q1 and a similar cadence expected throughout the year. Globally, the minimally invasive portfolio (Mia and Preserve) is projected to exceed $30 million in revenue in 2026.
Gross Margin Improvements: Gross margins are expected to improve by approximately 300 basis points in 2025 compared to 2024, driven by higher-margin U.S. sales.
Cash Flow and Profitability: The company expects to achieve cash flow positive status in 2026 without the need for further equity raises. EBITDA is expected to remain positive moving forward, with meaningful and increasing earnings anticipated in 2027 and beyond.
Global Market Expansion: Revenue growth of more than 20% is expected for several more years, supported by strong performance in direct markets outside the U.S. and increasing adoption of the company's products globally.
The selected topic was not discussed during the call.
The earnings call highlights strong financial performance with record high revenue, positive EBITDA, and increased cash position. The company raised its revenue guidance and expects continued growth in the U.S. and international markets. The Q&A session confirmed positive momentum, strong market share goals, and strategic expansions. Despite some uncertainties, the overall sentiment is very positive, especially with significant growth expectations and strategic initiatives in place. Given the company's small-cap status, a strong positive stock price reaction is anticipated.
The earnings call highlights strong financial performance with double-digit growth in Latin America and a 27% growth in European direct markets. Despite challenges in China, the U.S. market shows good growth and market share gains. Positive guidance for U.S. revenues and strategic focus on account expansion and utilization suggest a positive outlook. The Q&A session confirms strong U.S. growth, premium pricing, and effective inventory strategies, though some uncertainties remain regarding China. Given the company's small-cap status, the stock is likely to react positively in the short term.
The earnings call highlights several positive factors: a 41% revenue increase, improved gross profit margins, and reduced net loss and EBITDA loss compared to the previous year. The company has a strong cash position and expects significant revenue growth in 2025. However, competitive pressures and foreign currency volatility pose risks. The absence of a shareholder return plan is offset by operational improvements and positive guidance. Given the small market cap, these factors suggest a positive stock price movement of 2% to 8% over the next two weeks.
Basic Financial Performance: 3 - Revenue growth and reduced losses are positive, but a registered direct offering and supply chain issues are concerning.\nProduct Development and Business Update: 3 - Positive FDA approval, but regulatory delays and demand fluctuations are negative.\nMarket Strategy: 3 - Expansion plans are promising, but economic conditions pose risks.\nExpenses and Financial Health: 3 - Decreased expenses are good, but increased operational activity raises concerns.\nShareholder Return Plan: 2 - Registered direct offering at a discount is negative.\nQ&A insights: Analysts showed cautious optimism, but uncertainties remain.\nConsidering market cap, a neutral stock price movement is expected.
All transcripts are sourced directly from the official live webcast or the company’s official investor relations website. We use the exact words spoken during the call with no paraphrasing of the core discussion.
Full verbatim transcripts are typically published within 4–12 hours after the call ends. Same-day availability is guaranteed for all S&P 500 and most mid-cap companies.
No material content is ever changed or summarized in the “Full Transcript” section. We only correct obvious spoken typos (e.g., “um”, “ah”, repeated 10 times”, or clear misspoken ticker symbols) and add speaker names/titles for readability. Every substantive sentence remains 100% as spoken.
When audio quality is poor or multiple speakers talk over each other, we mark the section instead of guessing. This ensures complete accuracy rather than introducing potential errors.
They are generated by a specialized financial-language model trained exclusively on 15+ years of earnings transcripts. The model extracts financial figures, guidance, and tone with 97%+ accuracy and is regularly validated against human analysts. The full raw transcript always remains available for verification.
