Business
Establishment Labs Reports Preliminary Results for Fourth Quarter and Fiscal Year 2020
Preliminary Revenue of $26.5 million to $27.5 million for the 4th Quarter, and $84.2 million to $85.2 million for Fiscal Year 2020 Strong Performance
About this update from Establishment Labs Holdings Inc.
[{"type":"text","content":"\n\nPreliminary Revenue of $26.5 million to $27.5 million for the 4th Quarter, and $84.2 million to $85.2 million for Fiscal Year 2020\n\n\nStrong Performance Throughout Europe and Rebound to Pre-Pandemic Levels in Latin America Drive Record Quarterly Sales\n\n\nCash Balance at December 31, 2020 an Estimated $84.0 million, up from $81.4 million on September 30, 2020\n\n\n SANTA BARBARA, Calif.--(BUSINESS WIRE)--\nEstablishment Labs Holdings Inc. (NASDAQ: ESTA), a medical technology company focused on women’s health, initially in the breast aesthetics and reconstruction market, today reported preliminary revenue and cash figures for the fourth quarter and fiscal year ended December 31, 2020.\n\nPreliminary and unaudited revenue for the fourth quarter 2020 is expected to be in the range of $26.5 million to $27.5 million, reflecting approximately 10% to 13% growth compared to the $24.2 million reported in the same period in 2019, and approximately 16% to 20% higher than the $22.8 million reported for the quarter ended September 30, 2020.\n\nPreliminary and unaudited fiscal year 2020 revenue is expected to be in the range of $84.2 million to $85.2 million, above the $80 to $82 million guidance provided during the Company’s third quarter earnings call.\n\nCash at December 31, 2020 is expected to be approximately $84.0 million, an increase from the $81.4 million reported as of September 30, 2020.\n\n“Establishment Labs finished 2020 with incredible momentum surpassing even our own expectations,” said Juan José Chacón-Quirós, Chief Executive Officer. “Our contingency planning related to COVID-19 in Q2 of 2020 contributed significantly to our second half success and has us very well positioned for 2021. We continue to gain market share globally, and a suite of new products and services, including our launch into breast reconstruction, should further advance our sales growth and market share gains.\n\n“I would also like to highlight the incredible teamwork here at Establishment Labs,” Chacón-Quirós continued. “Our company-wide response to this pandemic has been a testament to our organizational agility, and every member of our team deserves recognition and credit.”\n\nFourth Quarter Earnings Call Information\n\nEstablishment Labs expects to announce its full fourth quarter and fiscal year 2020 results in early March 2021 and host a confe...