SuperSonic Imagine Q3 Results

On October 14th 2020, SuperSonic Imagine published its financial results for the third-quarter of 2020. These show that the companies sales revenue continued to contract during the quarter, although sales activity strengthened relative to the second quarter. The sales revenue in Q3 2020 reached €5.21m, compared with €6.45m in Q3 2019, a decrease of approximately -20% year-on-year. This took cumulative sales revenue for the first nine months to €13.25m, compared with €18.24m during 2019, a decrease of -27% year-on-year.

For the first nine months, lower sales were lead by declines in service sales which contracted by circa -30%, followed by product sales which contracted -27%. The company citied that the coronavirus pandemic has been the dominate driver behind this recent sales performance and that it has observed a decrease in activity across all of it’s major geographical markets.

The inability to install against orders due to the pandemic has resulted in lower revenue for many cart-based ultrasound systems. The companies ultrasound systems are targeted toward the diagnosis of breast, prostate and thyroid cancers, as well as liver diseases. While these types of health issues remain important, hospital operations have been significantly disrupted as they prioritise emergency response care and adjust to new operational procedures.

 Antoine Bara, General Manager of SuperSonic Imagine, commented: “After a first half of 2020 marked by the Covid-19 public health crisis, the Company is continuing to be impacted by the pandemic. SuperSonic Imagine’s three key markets have recorded a decrease in sales compared with the same period of 2019. However, commercial activity saw an upturn in the third quarter, with sales increasing by over 65% compared with the second quarter. This momentum can be seen in all three regions in which the Company is present”.