Full Press Release Details
Establishment Labs Announces Preliminary Unaudited
Results for First Quarter 2023
NEW YORK, N.Y., April 24, 2023 -- Establishment Labs Holdings
Inc. (NASDAQ: ESTA) (the "Company"), a global medical technology company dedicated to improving women's health and
wellness, principally in breast aesthetics and reconstruction, today announced preliminary unaudited financial results for
the first quarter of 2023.
In the three months ended March 31, 2023, the Company's revenue
is expected to be approximately $46.5 million, as compared to $38.5 million for the three months ended March 31, 2022. As of March 31,
2023, the Company's cash balance is expected to be approximately $42.8 million, and the principal and interest outstanding under
the Company's credit facility is expected to be approximately $184.0 million.
The preliminary revenue results provided in this release have yet to
be audited and are subject to change.
Establishment Labs Holdings Inc. is a global medical technology company
dedicated to improving women's health and wellness through the power of science, engineering, and technology. The Company offers
a portfolio of Femtech solutions for breast health, breast aesthetics and breast reconstruction. The over three million Motiva devices
Establishment Labs has delivered to plastic and reconstructive surgeons since 2010 have created a new standard for safety and patient
satisfaction in the 85 countries in which they are available. The Motiva Flora tissue expander is the only regulatory-approved expander
in the world with an integrated port that is MRI conditional and is used to improve outcomes in breast reconstruction following breast
cancer. Mia Femtech , Establishment Lab's unique minimally invasive experience for breast harmony, is the Company's
most recent breakthrough innovation. These solutions are supported by over 200 patents and patent applications in 25 separate patent families
worldwide and over 50 scientific studies and publications in peer reviewed journals. Establishment Labs manufactures at two facilities
in Costa Rica compliant with all applicable regulatory standards under ISO13485:2016 and FDA 21 CFR 820 under the MDSAP program. In 2018,
the Company received an investigational device exemption (IDE) from the FDA for Motiva Implants and began a clinical trial to support
regulatory approval in the United States. Please visit our website for additional information at www.establishmentlabs.com.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"). You can find many (but not all) of these statements by looking for words such as
"approximates," "believes," "expects," "anticipates," "estimates,"
"intends," "plans," "intends to," "would," "will," "may" or
other similar expressions in this press release. Any statements that refer to projections of our future financial or operating
performance, anticipated trends in our business related to the Company's performance are forward-looking statements. We claim
the protection of the safe harbor contained in the Private Securities Litigation Reform Act of 1995. We caution investors that any
forward-looking statements presented in this press release, or that we may make orally or in writing from time to time, are expressions of
our beliefs and expectations based on currently available information at the time such statements are made. Such statements are
based on assumptions, and the actual outcome will be affected by known and unknown risks, trends, uncertainties, and factors that
are beyond our control. Although we believe that our assumptions are reasonable, we cannot guarantee future performance, and some
will inevitably prove to be incorrect. As a result, our actual future results and the timing of events may differ from our
expectations, and those differences may be material. Factors, among others, that could cause actual results and events to differ
materially from those described in any forward-looking statements include risks and uncertainties relating to: our ability to
successfully, timely and cost-effectively develop, seek and obtain regulatory clearance for and commercialize our product offerings;
the rate of adoption of our products by healthcare providers or other customers; the success of our marketing initiatives; the safe
and effective use of our products; our ability to protect our intellectual property; our future expansion plans and capital
allocation; our ability to expand upon and/or secure sources of credit or capital; our ability to develop and maintain relationships
with qualified suppliers to avoid a significant interruption in our supply chains; our ability to attract and retain key personnel;
our ability to scale our operations to meet market demands; the effect on our business of existing and new regulatory requirements;
and other economic and competitive factors. These and other factors that could cause or contribute to actual results differing
materially from our expectations include, among others, those risks and uncertainties discussed in the Company's quarterly
report and annual reports, and other filings made by the Company with the Securities and Exchange Commission. The risks included in
those documents are not exhaustive, and additional factors could adversely affect our business and financial performance. We operate
in a very competitive and rapidly changing environment. New risk factors emerge from time to time, and it is not possible for us to
predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any
factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking
statements. We are not undertaking any obligation to update any forward-looking statements. Accordingly, investors should use
caution in relying on past forward-looking statements, which are based on known results and trends at the time they are made, to
anticipate future results or trends.
Investor/Media Contact