Notable Runner: Establishment Labs Holdings Inc. (NASDAQ:ESTA)

The company has 20.41M of outstanding shares and 446.145M shares were floated in the market. Establishment Labs Holdings Inc. (NASDAQ:ESTA) moved with change of -1.75% to $21.86 with the total traded volume of 17,303 shares in recent session versus to an average volume of 78,853. After opening the first trading session at $22.26, it registered a day’s high of $22.35 and touched a day’s low of $21.80.

Establishment Labs Holdings Inc. (ESTA) recently reported its financial results for the first quarter ended March 31, 2019.

First Quarter 2019 Financial Results

Revenues raised $6.0M, or 40.2%, to $20.8M for the first quarter of 2019, as contrast to $14.8M in the same period in 2018. Raised sales of Motiva Implants® were primarily driven by the continued volume growth across addressable markets, alongside the improved average selling prices driven by the Company’s direct market strategy in Brazil and key geographies in Europe.

Gross profit for the first quarter of 2019 was $11.3M, or 54.2% of revenues, contrast to gross profit of $7.9M, or 53.4% of revenues in the same period in 2018. The raise in gross margin for the first quarter was the result of an raise in production volume and growing direct market revenues with generally higher average selling prices, offset by the amortization related to the fair value of inventory recorded from asset acquisitions from certain distributors during the quarter and in the fourth quarter of 2018. 

Total operating expenses for the first quarter of 2019 raised $8.8M, or 81.9%, to $19.6M, as contrast to $10.8M in the same period in 2018.

Sales, general and administrative expenses for the first quarter of 2019 raised $7.4M, or 85.7%, to $16.1M, as contrast to $8.7M in the same period in 2018, primarily Because of an raise in personnel costs as a result of the hiring of additional sales, marketing and administrative employees, as well as expenses related to consultants, marketing activities, freight and insurance.  

Research and development expenses for the first quarter of 2019 raised $1.4M, or 66.9%, to $3.6M, as contrast to $2.2M in the same period in 2018, primarily Because of an raise in personnel costs and investments related to the Company’s pivotal clinical trial in the United States that is required to obtain FDA authorization for Motiva Implants®.  

Net loss for the first quarter of 2019 was $10.8M, as contrast to a net loss of $6.5M in the same period in 2018, a result of the Company’s continued growth and investments in operations to support the predictable raise in market demand.

The Company’s cash balance as of March 31, 2019 was $43.1M.

Full Year 2019 Financial Outlook

The Company anticipates full-year 2019 revenues in the range of $80.0 to $84.0M.  

In the profitability analysis, net profit margin of the firm was recorded at -37.70% and operating profit margin was calculated at -43.70% while gross profit margin was measured as 58.70%. The corporation has the institutional ownership of 26.20%.

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