The Medicrea Group reported its 2017 full-year and 2018 first quarter results.
Here are nine things to know.
1. Medicrea saw $33.27 million in 2017 sales, down 8 percent from 2016 sales.
2. The company reported a 15 percent sales growth in the French market.
3. The gross margin was 73 percent in 2017, reflecting a drop of 300 basis points compared to 2016. Medicrea reports this was due to a poor geographic mix of sales and higher production costs. The gross margin rate in the second half of 2017 started looking up, though, and the company anticipates improvement through 2018.
4. Medicrea saw an increase in operating expenses of $740,000 in 2017 compared to 2016, due to commissioning new property infrastructures in Lyon and New York as well as other strategic decisions.
5. The company's operating income after considering depreciation and provisions in 2017 was a negative $9.33 million.
6. Medicrea had a cash position of $14.71 million on Dec. 31, 2017.
7. For the first quarter of 2018, the company saw sales of $10.05 million, a 25 percent increase from the first quarter of 2017.
8. U.S. sales totaled $4.4 million in the first quarter of 2018, a 7 percent boost compared to the same period the year prior. Medicrea reported a 60 percent increase in the number of personalized surgeries and a 40 percent increase in revenue from UNiD ASI technology platform.
9. Revenue increased by 45 percent outside of the U.S. in the first quarter of 2018, due to the French market and a new distribution subsidiary in Belgium. Belgium sales increased five-fold in the first quarter of 2018 compared to the same period the year prior.