SPINEWAY : 2025 revenue of €12.4 million, with an acceleration of sales in Q4 2025 (+34%)

Core Insights - Spineway achieved a full-year revenue of €12.4 million in 2025, reflecting a 4% increase compared to 2024, despite facing challenges such as postponed approvals in Latin America and delays in Asia [4] - The company experienced a significant acceleration in sales during Q4 2025, with revenue reaching €3.8 million, marking a 34% increase from Q4 2024 [3] Revenue Breakdown - H1 revenue for 2025 was €5.573 million, down 15% from €6.535 million in 2024 [2] - H2 revenue for 2025 was €6.857 million, up 27% from €5.415 million in 2024 [2] - The total revenue for 2025 was €12.430 million, compared to €11.950 million in 2024 [2] Market Performance - The growth in Q4 2025 was attributed to an increase in sales across all markets and the fulfillment of key account orders that were deferred from the first half of the year [3] - The geographical diversification of Spineway, particularly in Asia and Latin America, contributed positively to its performance, allowing the company to enter new countries [4] Future Outlook - Spineway plans to obtain new approvals in 2026 for its premium product ranges in Latin America and Asia, aligning with its commercial development strategy [5] - The company aims to leverage its strong commercial momentum and diversified geographical presence to solidify its position as a major player in spine surgery [5]