Financial Performance
Spineart delivered a strong financial performance in 2024, achieving revenue exceeding €120 million, a 16% increase compared to 2023. All three sales regions—US Direct, Europe Direct, and Distributors—contributed to this growth.
These results demonstrate the market relevance of our strategic initiatives and, most importantly, the dedication and strength of our teams.
Expanding Market Presence in Europe and the U.S.
We have continued to strengthen our presence in Europe, with revenue from our Europe Direct region growing by 19% in 2024. Significant contributions came from Spain, France, the DACH region (Germany, Austria, Switzerland), and Italy. We are now established as one of the leading spine companies in Europe and aim to continue expanding our market share in this region.
Our US Direct revenue grew by 11% in local currency. We continue to roll out the PERLA® posterior fixation platform and Ti-LIFE 3D-printed titanium cages range. Of note was a successful US expert phase for SCARLET® AC-Ti for anterior cervical fusion which will be fully commercially released in the second quarter of 2025.
Commercial Milestones
We reached significant commercial milestones in 2024, with 100,000 3D-printed Ti-LIFE titanium cages sold globally and 70,000 BAGUERA® C sold outside of the U.S. These achievements highlight the growing demand for our innovative products and our ability to meet the needs of the market.
Opening the US Market for BAGUERA® C Cervical Disc Prosthesis
Our efforts to enter the U.S. market with the BAGUERA® C cervical disc prosthesis are progressing according to plan. We are gathering long-term clinical evidence from nearly 600 artificial disc patients enrolled in our two BAGUERA® C U.S. studies, with a particular focus on patient outcomes at 2 years after surgery.
Innovation in Navigation and Robotics
The Dallas Innovation Center, inaugurated in November 2024, is now operational and being used for R&D, Education and Marketing activities. Our first Spineart App on the open eCential robotic platform received U.S. FDA clearance in the first quarter of 2025.
Looking Ahead
As we move forward, our focus remains on driving innovation in spinal surgery, expanding our global market presence and delivering long-term value to our investors.
We are committed to advancing spinal care worldwide through Quality, Innovation, and Simplicity.