French medical device maker SpineGuard's H1 loss widens on US sales model shift

Spineguard SA

09/09/2026 17:14

Overview
France medical device maker's H1 2026 revenue fell 32% yr/yr due to U.S. business model shift
Net loss widened, impacted by asset sale costs and deferral of proceeds
European sales grew 17% in H1 2026, offsetting some U.S. revenue decline

Outlook
SpineGuard aims to achieve operational breakeven in the fourth qtr of 2026
Company expects improved operating income by end-2026 due to U.S. distribution model shift
SpineGuard projects sufficient financing through Q2 2027 based on business and financial forecasts

Result Drivers
U.S. BUSINESS MODEL SHIFT - Co said transition from direct sales to distribution in U.S. drove revenue and gross margin decline, with pricing effect and inventory build-up by Omnia Medical
ASSET SALE COSTS - Co said costs related to sale of U.S. subsidiary assets and deferral of proceeds under IFRS 15 impacted net loss
EUROPEAN SALES MOMENTUM - Co said strong sales momentum in Europe with 17% growth helped offset some U.S. revenue decline

Company press release: ID:nBwb3JBM5a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Sales
 
EUR 1.45 mln
 
H1 Net Loss
 
EUR 1.23 mln
 
H1 Gross Margin Rate
 
61.3%
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"
Wall Street's median 12-month price target for Spineguard SA is €0.39, about 195.5% above its September 8 closing price of €0.13

Reuters Recommended Reads
Sept 9 - Swiss medical device maker Medacta H1 revenue rises on Asia Pacific, EMEA strength
Sept 8 - UK's Inspiration Healthcare H1 revenue falls on absence of prior-year export contracts
Sept 9 - Israel's Nano-X Imaging Q2 revenue misses estimates

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)