Establishment Labs Holdings Inc. (NASDAQ:ESTA) Q2 2023 Earnings Conference Call August 8, 2023 4:30 PM ET

Company Participants

Raj Denhoy - Chief Financial Officer

Juan José Chacón-Quirós - Chief Executive Officer

Conference Call Participants

Young Li - Jefferies

Anthony Petrone - Mizuho Group

Josh Jennings - Cowen & Company

Sam Eiber - BTIG

Neil Chatterji - B. Riley

George Sellers - Stephens

Operator

Good afternoon. Welcome to Establishment Labs’ Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. At the end of this call, we will open the line up for question-and-answer session. [Operator Instructions] As a reminder, today’s call is being recorded.

I will now turn the call over to Raj Denhoy, Chief Financial Officer. Please go ahead.

Raj Denhoy

Thank you, operator, and thank you, everyone, for joining us. With me today is Juan José Chacón-Quirós, our Chief Executive Officer. Following our prepared remarks, we’ll take your questions.

Before we begin, I would like to remind you that comments made by management during this call will include forward-looking statements in the meaning of federal securities laws. These include statements on Established Labs’ financial outlook and the company’s plans and timing for product development and sales. These forward-looking statements are based on management’s current expectations and involve risks and uncertainties.

For a discussion of the principal risk factors and uncertainties that may affect our performance or cause actual results to differ materially from these statements. I encourage you to review our most recent annual and quarterly reports on Form 10-K and Form 10-Q as well as other SEC filings, which are available on our website at establishmentlabs.com.

Please also note that Establishment Labs received an investigational device exemption from the FDA for Motiva Implants and is under clinical trial to support regulatory approval in the United States. We continually seek to expand the geographies in which our products are regulatorily approved. Please check to the local authorities for specific product availability.

The content of this conference call contains time-sensitive information accurate only as of the date of this live broadcast, August 8, 2023. Except as required by law Establishment Labs undertakes no obligation to revise or otherwise update any statements to reflect events or circumstances after the date of this call.

With that, it is my pleasure to turn the call over to our CEO, Juan José.

Juan José Chacón-Quirós

Thank you, Raj, and good afternoon, everyone. Revenue in the second quarter of 2023 totaled $48.6 million, an 18% increase over the second quarter of 2022 in a new quarterly record for our company. We are growing well in excess of our underlying markets, and there are a number of positive catalysts we expect over the coming months, all of which is providing a strong foundation on which to build for 2024 and beyond. Raj will provide additional details on our second quarter performance and our outlook in a moment.