Mission Statement, Vision, & Core Values (2024) of Establishment Labs Holdings Inc. (ESTA)

An Overview of Establishment Labs Holdings Inc. (ESTA)

An Overview of Establishment Labs Holdings Inc. (ESTA)

Establishment Labs Holdings Inc. (NASDAQ: ESTA) is a global medical technology company, primarily focused on enhancing women's health and wellness through innovative solutions in breast aesthetics and reconstruction. Founded in 2010, the company has established itself as a leader in the Femtech sector, delivering nearly four million Motiva® devices to plastic and reconstructive surgeons across over 85 countries. The company's flagship products include the Motiva Implants and the Motiva Flora® tissue expander, which is the only regulatory-approved expander in the world with an integrated port utilizing radio-frequency technology that is MRI conditional. Establishment Labs is committed to advancing patient safety and satisfaction, supported by over 200 patent applications and more than 100 scientific studies published in peer-reviewed journals.

As of 2024, Establishment Labs continues to expand its market presence, with a projected revenue guidance for the year set between $165 million and $168 million. This represents a shift from previous guidance of $174 million to $184 million, reflecting adjustments made due to market conditions, including challenges in Brazil and the successful launch of their products in the United States.

Company's Financial Performance in the Latest Financial Reports

In the third quarter of 2024, Establishment Labs reported total revenue of $40.2 million, up from $38.5 million in the same period of 2023. The gross profit for the quarter was $25.7 million, which accounts for 63.9% of total revenue, compared to $26.1 million or 67.7% in the previous year. This decline in gross profit margin is attributed to a geographic mix and foreign exchange rate fluctuations.

Total operating expenses for the third quarter were $38.9 million, a decrease from $47.1 million in Q3 2023. The components of operating expenses included:

The net loss for the third quarter of 2024 was $16.7 million, a significant improvement compared to a net loss of $29.3 million in the same quarter of the previous year. The company’s cash balance as of September 30, 2024, stood at $39.7 million. This is a slight decrease from $40.0 million at the end of 2023, influenced by operating losses and investments in a new manufacturing facility. The company anticipates a pro forma cash balance of approximately $114.0 million following recent financing activities, including a $50 million sale of common stock on November 7, 2024.

Introduction to Establishment Labs as an Industry Leader

Establishment Labs has positioned itself as one of the foremost companies in the Femtech industry, particularly in breast health and aesthetics. The company’s innovative product offerings and commitment to safety have driven its rapid growth and market adoption. The successful launch of Motiva in the U.S. has exceeded expectations, with over 250 new accounts onboarded in just the first three weeks, and the addition of 15 new accounts daily. As of 2024, the company is on a trajectory for significant growth, with expectations for U.S. revenue to surpass $35 million in 2025.

With a strong focus on research and development, along with a robust patent portfolio, Establishment Labs is well-equipped to continue its leadership in the industry. Investors and stakeholders are encouraged to explore further insights into the company’s operations and strategic initiatives to understand the factors contributing to its success.

Mission Statement of Establishment Labs Holdings Inc. (ESTA)

Company's Mission Statement Overview

Establishment Labs Holdings Inc. (NASDAQ: ESTA) is dedicated to improving women's health and wellness through innovative medical technologies. The mission statement reflects the company's commitment to quality, safety, and patient satisfaction, ensuring that all products meet rigorous standards. As of 2024, the mission statement emphasizes a robust dedication to advancing breast aesthetics and reconstruction, supported by cutting-edge research and a strong patent portfolio.

Core Component 1: Commitment to Quality

Establishment Labs prioritizes the delivery of high-quality products, which is evident in its nearly four million Motiva® devices distributed across over 85 countries since 2010. This commitment has established a new standard for safety and patient satisfaction in the breast aesthetics market. The company’s facilities in Costa Rica are compliant with ISO13485:2016 and FDA 21 CFR 820 under the MDSAP program, ensuring adherence to international quality standards.

Core Component 2: Innovation in Women's Health

The company is at the forefront of innovation in Femtech solutions, focusing on breast health, aesthetics, and reconstruction. The launch of the Motiva Flora® tissue expander, the only regulatory-approved expander with an integrated port using radio-frequency technology, exemplifies this commitment. The company's latest innovation, Mia Femtech™, offers a minimally invasive experience, further enhancing patient care.

Core Component 3: Focus on Patient Satisfaction

Establishment Labs is committed to enhancing patient satisfaction through the safety and efficacy of its products. The performance metrics indicate a focus on patient outcomes, with a gross profit margin of 63.9% for the third quarter of 2024, reflecting the company's ability to maintain high-quality standards while managing costs effectively. The net loss for the third quarter was $16.7 million, a significant improvement from a net loss of $29.3 million in the same period the previous year, indicating progress towards profitability.

Vision Statement of Establishment Labs Holdings Inc. (ESTA)

Vision Statement Overview

Establishment Labs Holdings Inc. (ESTA) aims to enhance women's health and wellness through innovative medical technology. The vision statement emphasizes global market leadership in breast aesthetics and reconstruction, focusing on safety and patient satisfaction.

Global Market Leadership

As of 2024, Establishment Labs is targeting a significant expansion in global market share, particularly in breast aesthetics. The company has successfully launched the Motiva® implants in the U.S., with expectations of U.S. revenue exceeding $35 million by 2025. The company has onboarded over 250 new accounts in just three weeks post-launch, adding approximately 15 new accounts daily.

Commitment to Innovation

Establishment Labs continues to invest in research and development, with R&D expenses amounting to $14.6 million for the nine months ended September 30, 2024. This represents a strategic focus on developing new technologies and enhancing existing product lines to improve patient outcomes.

Focus on Safety and Satisfaction

The company has delivered nearly four million Motiva devices globally since 2010, establishing a new standard for safety and patient satisfaction. This commitment is underscored by over 200 patent applications and more than 100 scientific studies supporting their product efficacy.

Financial Performance

For the third quarter of 2024, Establishment Labs reported revenue of $40.2 million, a year-over-year increase from $38.5 million. The gross profit for the same period was $25.7 million, which constitutes 63.9% of revenue. However, the company recorded a net loss of $16.7 million, improving from a net loss of $29.3 million in the prior year.

Strategic Partnerships and Funding

Establishment Labs has secured a $50 million investment agreement with R-Bridge Fund to support market growth in China. Additionally, the company amended its Oaktree credit facility, extending availability of $25 million until December 31, 2025.

Regulatory Approvals

The FDA approved Motiva Implants on September 26, 2024, a critical milestone that supports the company’s vision of expanding its market presence and enhancing product offerings.

Core Values of Establishment Labs Holdings Inc. (ESTA)

Innovation

Innovation is a core value at Establishment Labs Holdings Inc. (ESTA), emphasizing the importance of continuous improvement and the development of cutting-edge solutions in women's health.

In 2024, Establishment Labs launched the FDA-approved Motiva Implants, which have been received positively by the market, leading to onboarding over 250 new accounts within the first three weeks of the launch. The company has also reported an expected U.S. revenue exceeding $35 million in 2025 as a result of this innovative product offering.

Integrity

Integrity forms the foundation of trust within Establishment Labs, guiding its interactions with customers, partners, and employees. The company is committed to maintaining transparency and ethical practices in all operations.

In its financial dealings, Establishment Labs has demonstrated integrity by amending its Oaktree credit facility to extend the availability of $25 million Tranche D to December 31, 2025, contingent on achieving specific revenue milestones.

Collaboration

Collaboration is essential for Establishment Labs, promoting teamwork and partnerships to achieve common goals in healthcare innovation.

The company has entered an agreement in principle with R-Bridge Fund to invest up to $50 million in a Chinese distributor, which will support the growth of Motiva in China, showcasing its collaborative approach to expanding market reach.

Excellence

Excellence is pursued through high standards in product development and customer service at Establishment Labs.

During the third quarter of 2024, Establishment Labs reported a gross profit of $25.7 million, representing 63.9% of revenue, despite a decrease from the previous year's gross profit margin. This reflects the company's commitment to maintaining quality while managing costs effectively.

Accountability

Accountability is a key value that drives Establishment Labs to take responsibility for its actions and commitments.

In 2024, the company reported a net loss of $16.7 million for the third quarter, a significant improvement from a net loss of $29.3 million in the same period the previous year. This reduction in losses demonstrates the company's accountability in managing its financial performance and operational efficiency.

Updated on 16 Nov 2024

Resources:

1. Establishment Labs Holdings Inc. (ESTA) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Establishment Labs Holdings Inc. (ESTA)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View Establishment Labs Holdings Inc. (ESTA)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.