Establishment Labs Holdings Inc. reported a revenue of $41.4 million for the first quarter of 2025, marking an increase of 11.3% from $37.2 million in the same period of 2024. The company attributed this growth primarily to higher sales of its Motiva Implants in North America following FDA approval in September 2024, which contributed $6.2 million in sales during the quarter. However, the company also experienced net losses of $20.7 million, compared to a loss of $16.2 million in the prior year, resulting in an accumulated deficit of $465.4 million as of March 31, 2025.
The financial performance reflects significant changes in operating expenses, which rose to $44.8 million from $33.2 million year-over-year. This increase was driven by a 37.4% rise in sales, general, and administrative expenses, largely due to higher personnel costs, commissions, and marketing expenses. Research and development expenses also increased by 18.6% to $5.1 million, reflecting ongoing investments in product development and clinical trials.
Operationally, Establishment Labs has made strides in expanding its market presence. The company launched its new product, Preservé, in Brazil in February 2025, with plans for further international launches throughout the year. Additionally, the company completed the construction of a new manufacturing facility in Costa Rica, which is expected to enhance production capacity by approximately 730,000 units annually. As of March 31, 2025, the company had 48 employees in Brazil and 4 in Argentina, indicating a focus on regional growth.
Looking ahead, Establishment Labs anticipates continued revenue growth driven by the successful adoption of its Motiva Implants in the U.S. market and the introduction of new products. However, the company remains cautious about macroeconomic conditions, including inflation and consumer spending trends, which could impact demand for its products. The management expects to manage operating expenses carefully while pursuing growth opportunities, particularly in the U.S. and emerging markets.
About ESTABLISHMENT LABS HOLDINGS INC.
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