Establishment Labs Holdings, Inc. (NASDAQ:ESTA) Q1 2022 Earnings Conference Call May 9, 2022 4:30 PM ET

Company Participants

Juan Jose Chacon Quiros - Founder, Chief Executive Officer & Executive Director

Rajbir Denhoy - Chief Financial Officer

Conference Call Participants

Josh Jennings - Cowen

Philip Coover - Goldman Sachs

Marie Thibault - BTIG

Chris Cooley - Stephens

Zach Weiner - Jefferies

Operator

Good afternoon. Welcome to Establishment Labs First Quarter 2022 Earnings Call. [Operator Instructions] As a reminder, today's call is being recorded.

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

Rajbir Denhoy

Thank you, operator and thank you, everyone, for joining us. With me today is Juan Jose Chacon Quiros, 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 within the meaning of federal securities laws. These include statements on Establishment 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. As a reminder, Establishment Labs received an investigational device exemption from the FDA for Motiva Implants and is undergoing a clinical trial to support regulatory approval in the United States. We continually seek to expand the geographies in which our products are regulatory 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, May 9, 2022. 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 Jose.

Juan Jose Chacon Quiros

Thank you, Raj and good afternoon, everyone. I hope everyone is healthy and continues to remain safe. Revenue in the first quarter of 2022 totaled $38.5 million, a 27% increase over the first quarter of 2021. This is a new quarterly record for our company. Our singular focus on developing highly differentiated technologies based on science and patient-centric design with far superior clinical results continues to be the key for our market share gains and we expect these gains to continue. Most importantly, our innovations are aimed at creating new categories and markets that will help sustain our growth far beyond the current market as we know it today. We see a future of women empowered with abundant new options. Raj will provide additional detail on our first quarter performance and our outlook in a moment.