ESTA - Earnings call transcript Q1 2021 | Establishment Labs Holdings Inc.

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Operator

Greetings and welcome to Establishment Labs' First Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this call is being recorded. It is now my pleasure to introduce your host Raj Denhoy, Head of Strategy and Investor Relations. sir. you, Thank ahead. Please go

Raj Denhoy

Officer. operator With and our for you, Chief you Executive thank today are us. Financial our me Gaeta, Quirós, and joining Juan Officer; Thank Renee everyone José Chief Chacón

Following their prepared we'll take your questions. remarks,

and to federal would by this include for Labs' differ forward-looking on securities timing include laws. Before will that within statements financial during you the Establishment like the These begin, risks and comments remind outlook company's company's development we the sales. call may involve forward-looking results statements I made and management meaning plans and materially. and product uncertainties, of actual statements These material

May I which establishmentlabs.com. The For over as reflect events on live date file to expect contains date review you at update to to report Juan will our accurate the website this that turn the of a time-sensitive is factors, to statement as this our my undertakes that, tomorrow SEC required be information we any With revise circumstances CEO, call or pleasure XXXX. after obligation call. discussion Labs only with Establishment of broadcast, available and encourage the of call or conference the no on of to risk content it quarterly Form XX-K law, our otherwise by Xth, this José. of to Except

Juan José Chacón Quirós

everyone continues is Thank you, remain and hope good healthy I and Raj everyone. morning safe. to

India, and are more a than in suffering of do in pandemic. the countries cases. the our experiencing to including effects We First sympathy everyone around like would from currently Thailand, the others world all, we surge express Rica, to business that Costa XX of

hard-hit and our areas through We ad conditions employees we over these in and time communities continue forward next the months. to to coming improving look difficult this support

revenue record for first million, our business to was XXXX quarter turning Now, company. our $XX.X performance, a new

up was XXXX quarter the the XX% increased fourth first XX% and First quarter of over quarter XXXX. sequentially revenue of from

range our Our the continues strong singular resonate superior are the the of our $XXX is guidance in significant upward Motiva guidance million platform health and safety XX% for profile of growth the our in or XXXX million. momentum women's focus from $XXX we million to million. outlook of This our business, to year With on raising and revision start to of a This to to aesthetic represents full a and $XXX XX% substantial to marketplace. $XXX over XXXX. updated year previous

to our especially Renee be and additional they performance guidance. a detail always, outlook and provide in As during moment. conservative pandemic, are going with we will our on a first quarter updated

share our Before reported continues rate to more her, as million of I implants contracture. breast well With implants with the like XXXX, than call development to is update Labs. our XX to sales, key a on to surveillance there due On reoperation relation or European surface committee opinion ALCL. This events have surface the around textured Commission years polyurethane implant published high developed an Establishment causal most X.X than significantly April after Motiva. data than implants roughness, as report surface namely, smooth being standards under recognized. implants We implants. silk in found micro to ago issues in smooth that of the of show I'd is with capsular of agencies classified intermediate to lymphoma, other been been to a X% its ALCL. and a of relationship final has we and are XXrd, recent post-market world, initiatives And the scientific over less case as single at commercial an than what still a by The and underway concluded on more provide largely reiterates decade which turn includes anaplastic that textured coated regulatory now between to ISO address had large ALCL has which more cell not technology, safety

company women's on solely the As be mission our focused a from that the health, a conclusion celebrate do competitors we improving of can tied to directly products illness. not manmade

sales and this the issues evidence strong clinical products safe no that available future science with we possible a However, resonating our invasive to behind we history be tools using and longer And a this show and In our breast Motiva pleased us is am first made certain important recently ErgonomixX provided discussed, that in industry forward our of The should into XXX Motiva products the and our implant. of look we woman. competition. is building are IRB from cases companies Diamond our Asia procedure in that on by the while enrollment Rica. acknowledge message technique look to used. it proprietary rigorous in with are Mia sets approved apart results February, our data the in surgeons Motiva Mia, study After with where minimally not innovation, with completed longer no that legacy standardized Costa and XXXX, patient enhancement report I first classes

around surgeons United of Europe, the Latin from this We from theories, we traveled and plastic to innovation. in journey States. received world surgeons hosted participate in During latest from America, the who feedback the

hour, less later cup to activities high and feedback will Mia less typically Patients with and outcomes Mia able supports any not study our potential normal the technology IRB Motiva minutes. make multicenter with breast their pain, if Static require daily to considered in look than and very Mia Mia XX more anesthesia, are forward an is three many are many Motiva view cases a year. remains breast continue takes time under in the We us much size initiate has an these excellent, a The with does increase our has Motiva addressable leaving and market. less procedures also able half with total feedback early approved initial and plan to it to report or work learn can Motiva surgeons Because done short, enhancement return the this scores. Thailand used continuing very our the previously that clinical positive justified. to have in routinely with than in general to hour. not clinic had who during who optimize discomfort two esthetics. potential a patients in as with Mia than little, tell days. leave perform to helping women refine to for Mia you from that We Overall, than to I and expand proven amount procedure. tremendous Mia its The the from as satisfaction are our surgeons enthusiasm appealing

procedures of part implant report total Europe X.X Mia for tools a addressable also December. Mia pleased And we filed million Mark have ErgonomixX our global Diamond estimate the Mia for of As reminder, year. used that in to the I'm that are for the market is in per The system. initial Motiva regulatory received CE in clearance

the medical begin year. in CE in June Mia pre-market commercial launch expect XXXX We of before education we Motiva end Mark received the Europe preparing to expander novel activities for and in improvement first With tissue Europe are Motiva integrated of is a with RFID Flora, an for With our standard full its mastectomy. allows current care. of Flora during kind significant port, Flora of is used non-magnetic MRI the the an after this imaging time summer. port, expander and

cancer. with that safer potential clinicians has could improve also improvements potentially available patients. them Flora to women in metal be radiation deliver The and way way noted limitation to and tissue Many the plan partnering changing are the can for imaging, their Flora treated effective have of more oncologists expanders Beyond a to the health deliver currently the treatments by in women's in allow are their treatment. we

not future. have come The several reconstruction could XX% in breast projects can long-term create and the aesthetic our standard with breast new studies forward treatments be women mastectomy. benefits is game-changing to a world, indeed we what women's recon, development We offering oncology less clinical that of part additional we than make I outcomes of an strategy with a Flora important many better stage. patients. alternatives in that similar In under safer, technologies Flora breast you solution from a after have how countries breast underway substantially Flora health part area improve number call in one to have to mission. for a only provide around the help esthetic to of but of define sharing also this of the and a look during critical is reconstruction this goal to radiation reconstruction

ongoing are China this in efforts to commercial progress process. we and in regulatory make clinical Our and continue

in in Motiva launch XXXX. market is plan Our important this

U.S. Rene. regulatory patients study also esthetic the we two-year I for turn More will remain over IDE in patients approval the and our of unchanged. enroll now in now the continue timelines the mark cohorts reached Our U.S. to cohorts reconstruction the have trial. half than of call to

Renee Gaeta

based sales Juan again up of of are to approximately XX%, of operating $XX.X in globally our regional Direct saw for which inventory at this revenue sales for East can balance. significant Asia-Pacific into XX% were million. of balance. Thank changes sales. quarter America end The made cash was distributor perspective, reorders Total in accounted the while managed the this comprised approximately a José. you, on momentum sales Brazil, in quarterly our approximately timing global Europe strong of total, made sales, the we fluctuate largest which the the and is expenses a saw and record quarter level Middle and XX% growth new total levels We single effectively. year. this being XXXX Latin From market continued and and was sales up XX%

in the million first gross $XX.X to was for the quarter XX.X% XXXX. XX.X% revenue for or of reported compared $XX.X period Our profit revenue same million of or

The Our gross the revenue also increased. was Average of our XX.X% the ago volumes to in absorption first the profit increase in reported period. this quarter fourth growth from from prices XXXX. quarter year year-over-year in better production as improved due quarter the selling the slightly and improved

this margins. As fluctuations be gross we saw in there in and last, will quarter

the continue decreased $XX.X gross XX% to XXXX. quarter quarter reported near-term. first progress in for the the best quarter $XX our approximately on million to in gauge low to SG&A and comfortable range the level with to consistent of time the the remain we $XXX,XXX over was in with expenses of million compared margin aggregate fourth first believe way basis for first the is XXXX. SG&A quarter We for an the

clinical of quarter were $X expenses. million. the first expenses $XXX,XXX million, to to ago a from trial quarter quarter, for a decrease period. R&D operating of for other period. due expenses from $X.X $XXX,XXX from decreased and period from loss of to first expenses net was the ago R&D the Our approximately year decrease timing $X.X the quarter same million the down several projects. fourth quarter $XX.X approximately due year ago expenses of year of in The timing the Net $X was loss to for million first operations Total compared the was million the this

position at Our million as XX. $XX.X to remained $XX strong on compared cash million of December XXst March

range As $XXX to Juan range the a million growth million for our XX% represents annual to sales to noted new José $XXX This million. are we million of of XX%. to previous range earlier, raising $XXX XXXX of guidance from $XXX

to as to expect significant for into programs of and portfolio down to look underway. increase product top rest drive a commercialization prioritize remains priority. the levels growth our in we spending markets we P&L, entry new the As our Strengthening number see continue we development future preparing have of investment and we

José as our tied these strategic become have position. strong programs result use efficiency of increased will continuing call financial company operating I Juan back However, very concluding strong we to Overall, growth cash even efficiency expected competitive investments. to the in we This implemented levels, expenses over past trend as while we pre-pandemic permanent. turn year should revenue to over increase, we programs in now from number our remains for as the will a down remarks. and new our increase cost have believe well

Juan José Chacón Quirós

Thanks Renee.

we company revenue developments are a is first aesthetics and the that right The in and to our quarter off recent We on very leading show start the the breast be ESTGA again path record to good in reconstruction. this year. in industry generated

current the are we However, share market. just with satisfied not within taking breast implant

launch breast We each the journey on of reconstruction changing Motiva our this and will where breast Flora entry the segment, focused millions cancer in the Motiva fundamentally Mia a women we outcomes with opportunity to transform breast reconstruction aesthetics of breast real year. and are mark innovation, an the technology. and improve has diagnosed through potential patient aesthetics year to science, into see for

become that market with these As by their in turn woman's things around challenging dedication to total the world, I available, and could perceptions of we want the and over for health. countries entire I change the call I technologies to addressable for in new team remain the will mission substantially. want the possibilities for operations operator as for noting grow Labs' over improving Establishment close unsettled questions. our that many. are times mindful now to our to your thank XX

Operator

from questions. Jennings Our now the of is Thank you. Josh ahead. question go [Operator gentlemen, open Ladies for Please and is floor Cowen. Instructions] coming first

Josh Jennings

to another quarter. Juan and individual on the how put understand digest over regions? help should for share the countries congratulations type questions potential -- expect the And expect share want regulatory Hi, I we of out to processes you XX in follow-up comments José good should share here was restrictions. your with from the to could Are any ongoing international on morning. report decisions hoping us to the results what Thanks report there regulatory -- path report are months? any forward forward that the for on decision, or any we next wanted taking record the play and and

Juan José Chacón Quirós

breast causal and you, ALCL. Yes. is important between information textured the from share a most there's the is public Josh. report that implants relationship it Thank that Actually, now thing

the side So, not may the be that them. at also the the It about have basically advised that have those What at potential Commission in is physicians, same European Union, moving who use they need time, that of basically health they if European But physicians individual been of legislative from to here action decisions can by another information provides patients the of take for time. against when that hand, that informing their future, in now they patients take they think own risks their means properly can authorities goes to action. there devices. that ahead

to is -- but implants asking going not women more continue the more very surgeons I happen worldwide short-term, don't us, it's in thing use and statured the most of we Motiva is to So, it's are not their to that the and safety think prove important unparalleled, to devices.

of smooth trend is threat is in So, is texture bodies devices And choosing I away the implants. implant, think into when a Motiva. someone the Other from outside technology and definitely clear do smooth regulatory most decisions advanced indication to European countries But other any Union on ones to may want or yet they as don't so. which we have based take will when also the report. that

Josh Jennings

us public entire data year. follow-up the potential of for IDE Motiva the for data? end the primary of augmentation Thanks on just laying augmentation and cohort before U.S. for -- for paths the Great. and Can your wanted the understand submit revision excuse enhanced Then data the you out to on us. releasing cohort potential FDA trial that that your I for me, to follow-up Thanks or the to to revision follow-up be taking to questions. could the cohorts to just help --

Juan José Chacón Quirós

Yes, Thanks, Josh.

were we and a keep challenge but have FDA been numbers that rates. happy so patients to able definitely we approval fact helped move has half aesthetic the passed to follow-up those consultation cohorts. And that the the quick we virtual want our pandemic, during So, the from get them. that enough quite where for two-year now to to mark very the with our We're that's have in do of

fall mindful we want at we can. mark. our the keep the all in So, And as of at open share propriety. regulatory we will two-year as be to the data to be time, and we have cohorts But patients have aesthetical we to want this our certainly the same to

as million surveillance that the We with as report sharing same data. in to and are have latest the we'll we post-market trend implants past. had get We more But company the keeping you now we keep mark. -- is than closer two-year at XX our updated X.X recently released years always

Josh Jennings

you. Thank

Operator

Thank you.

go Osborn Our Stephens. next is Please Ross coming ahead. question from of

Ross Osborn

Good questions. taking Thanks for morning. my

a wanted couple I So, on Mia.

does to traditional As benefits data how undermining without to what activity? business Mia envision the envision generate procedures? any you you you. and inherent technique consumer preclude implant of that or in Do highly to-dates? learnings positioning reconstruction related the of and Thank marketplace then your tissue are breast continues Or radiated to clinical augmentation off company of the in delivery utilized placement there cases limitations cannibalizing And traditional the do adoption And relative Mia, of some procedures? being surgery are recon? use limit in that, then the just of kind Mia augmentation of Mia going

Juan José Chacón Quirós

try all thank I'll those. to answer Yes, of you.

that interested half, that less that definitely going minutes back recovery, of XX are it, other is over, home procedure appealing. the Mia a they very awareness to takes spoke less our and and Mia we patient potential the procedure esthetics. this and truly XXX just So, just has finished transform we Investor million that is than about general augmentation. procedure series half our We the see are reiterated per breast in that and But breast the the go traditional of would augmentation, what anesthesia, to XX interesting new procedure this, one within is the in there's that appeal for pain, cite patients that after the those the fast patients, patients of the that X.X there minutes, all when are market that year is but at which not breast traditional patients things benefits patients of have

a there be positive So, will and the it's upgrading procedure. think because I of case cannibalization more of

all will that take long. we day So,

point, path in a Mia see yes. for at it and aesthetics. minimally an Mia designed be I But comes Do when for Definitely, designed this to procedure. is will breast reconstruction? Now, breast reconstruction, aesthetic invasive is

Ross Osborn

if competitive a Thank of focus longer you sense. in may, more environment, competitive less makes as then And by direct price-based just landscape because the of the seeing that competitors? a simply And use on RFID are then on -- I competition? you there SS Okay, use to any I view tech just a lack the Or just hear is ultrasound changes seeing your you are you. with any term? guess, of I threat

Juan José Chacón Quirós

profile, our awareness Yes. The safety day importance of increase. among think as patients every levels I is

biggest to do time important the pandemic, during convert mostly thing things So, the there especially is being that do to the actually online. others that that is most with us for and perhaps The it's driver we that go difficult visit resurgence, implants where and is our cannot. us face-to-face still medical education this of are to patient-centric pretty

operation, the it's you our very that can a is they give example, woman fact to full So, have exactly implant that the verify In after to received. are implants decision verify thing, this to important called fact they control it. an the geographies, what empowerment, many the women's give power that over fully and RFID-enabled they and

companies that's FDA over important. is think FDA why positive that look of the the So, RFID goal. women may in enablement breast devices achieving most them many expressed at ways implant that its find may fact the the concern safety, I don't seem panel that know have and what on other to the they so as a and At

That's that's to and it's a in the you old improve continue we magnets able on rid metals effect on generation saw health, already about. a RFID were great of going use we to that get are technologies. of where technology Flora we is an fact protocols, in our have going to and What expander. tissue to and So, RFID improvement, the work next women's

Ross Osborn

on and a you Thank great congrats quarter.

Juan José Chacón Quirós

you. Thank

Operator

you. Thank

Anthony ahead. is coming Our of next Petrone Jefferies. go question Please from

Anthony Petrone

couple Thanks, generally on and a a strong you're quarter. a then Mia. congratulations then on and Motiva on seeing that have I volumes and few

there discretionary quantify a through on the it's is higher relatively spend from level how from was is hearing for much of instance, actually is demographic where elsewhere. volumes, allocated spending? coming way We're a a just that key lower a sort refractive the spend to on of level Just and discretionary of side, pandemic, being there there

on -- And the textured the something that select aesthetics? side as And that, the other a that of then exit regions implants? Mia. of with would have I'll from textured you be of a is well so from how is So, on you of issues And seeing in benefit world? there's then around much implants the think course, follow-up are going quick

Renee Gaeta

Sure. Anthony. Thank you,

most spend, not probably States it's I think talking discretionary to at device think unlike more you're when United so largely medical important that about and that's I in we're moment. companies, the note U.S. focused the global

seeing to that. necessarily a not data strong response and seeing we're But we're of them. still the direct implants impact So, safety our behind

and in our plastic sales direct and So, markets I with distributor surgeons. patients see think our to messages continue both markets volumes with resonating their and

Anthony Petrone

Thanks. trying just of street progress that? when follow-up and on exits in be from spend And quickly about And XXXX XXXX marketing sense then XXXX a get about in launch then, Mia, of the share push? the from -- feet think ahead should the way to P&L that And launch? versus the to XXXX, that the the on gains for again, much EU a in there think of how how sort that that on of competitors, How ahead is allocated will you really progresses? to

Renee Gaeta

down to actions we that of Yes, continue penetrate. I a more logical we're will think we've sort response the right the as that we're and we've that major best path, confident gap market, competitor of of are got the taking and the our sort the With way technology. opened out one marketplace ever pulling some have to competitors that are in that our that we up, of the innovation

that's we're with and both media social the focused I medical just we're So, message continuing and where think involvement. education

Anthony Petrone

much. you Thank

Operator

you. Thank

coming ahead. question go Goldman Hazan Sachs. is next of Please from Our Amit

Phil Coover

Can Hey, for Phil Amit. you good is morning. on guys hear This me okay?

Operator

Yes.

Phil Coover

Thanks so much. Awesome.

the could interested could of the in in but what But guys sorry beat are talk then in increase above rates being COVID? was still guys short I'm obviously, maybe from if quarter. confidence for what saw you I impacted the the guys you by regions, month, especially the notably exit ford, layer just -- that seeing dynamics, for interested the you the hoping what the within about saw kind you're question, that given guidance quarter you sided in those First, with Thanks. inter-quarter? And different inter-quarter

Renee Gaeta

Yes, of certainly. temporary we do quarter largely suspensions. are impacted that are do We and have by the the sort it variability seems restrictions work within quarter work pandemic. to happening through any and as through due But various countries lockdowns sort still of to either that as and though most able

that when a that I lens countries the balancing guidance, daily think saw are still the the we quarter, a momentum basis. on we're think we and with strength of in about fact we're that that of lot handling but obviously also during the pandemic still

we're on So, provided. we're we've and that's comfortable what focused -- we're with guidance that very the

Phil Coover

ears hoping on little broadly one, you into with a that's OpEx that that permanent thoughts delve some deeper side, on your versus cost these profitability answered prior Maybe you my that. you then about. sort also programs since bit cost for up you. talking talk savings? about stick I'll of of And could Right, given timelines the perked efficiency were I'm great. the

Renee Gaeta

remotely, making does of investment. really and of the was them business, sort us, permanent like it always great ultimately we that as return and just Yes, to taking it ramped do those And of the was that see we've certainly, wanted cost experience institute focus operate I travel things we sort some on the where online. core to learnings and for It a but efficiencies. think best pandemic, learning business, and up of foundation our want on mean how more certainly from are a we more we to

core we're on Some as But to really do the of in think investments our the gatherings. how person internal opportunities organization that. an we rather more strategic we mindset in-person you by travel our focus that or stuff would come run permitted know of the restrictions is this have efficiently, when and going and took we and have think because I back thought we about business, to business critical much dollars to we'll in about do

Phil Coover

following be OpEx strategic on bit on OpEx moving up basis little just to that one, to have around guidance would on comment where but dollar Just investments with all from a you forward, XX% see growth. imagine X that of topline year-over-year just a it's these trending be here. down some I'd Maybe going there with helpful.

Renee Gaeta

are to see Yes, we have increase we were entries levels commercial certainly, have going launches prioritize where about we to new and that the we spend. up to up, spending that's as significant coming think focus we market going and investments that those the expect we coming that and

behaviors a through the we're of So, we're -- team Like where company, the as whole. said, that and happy spending with money I not we're using how pleasantly of come that our just surprised, proud dollars, efficiently. for we and super the pleasantly surprised the more with but results had the quarter like help. the see We're to

Phil Coover

from taking have more so in that the progress with the like Thanks been in for is sort questions. one FDA the my That's interested with And how the submitting a Costa I'm the discussions has and Mia to front going the Diamond we CE in great. like If front with front. with has the the positive just I in Rica on can Mia with discussions the been progress IRB the the fit Motiva been on plan implant, mark? regulatory the current potentially what's like? those with much standpoint, conjunction saw original what approval for of be European

Juan José Chacón Quirós

Thanks.

will and under remember, we're trial continuing trial. to of we the the current approval. that's are So, so And FDA until PMA reconstructive our roll cohorts do our to conversations continue get focused with what into we

for will is with including implant. the the Mia when Thereafter, Diamond begin timeline

Phil Coover

questions. All right. much Thanks the for so

Operator

you. Thank

from is ahead. Please Matt question UBS. go Our next coming of Taylor

Matt Taylor

for taking you the thank Hi, questions.

have Two any the So, that bit to the from I little how how One And in accept of just there. updated U.S. would maybe the of in three-year two wanted expect China. future just is, wanted about for FDA and China? our each some and think thoughts one in was ask you the reiterated get whether one -- or dig approval year first outline that will I point the know you the ramp questions. you you countries, of a to data? about a for U.S., much in I U.S. long then years Just models take? help us timelines these would

Juan José Chacón Quirós

Yes, thanks Matt.

the most important and strategy that update strategy. how esthetic the the between on think and FDA is I recon has bifurcation comfort with expressed

to most that. feel having esthetics on important U.S. And is into thing that fastest reconstruction. market, very because we enter to of ahead the way it us, the confident is So, the

So, we're follow-up with the continuing to patient.

have our this about we two-year progress. traditional or combination data going the data fall conversation with will will FDA continue guidance have using China, and of with of On a years. three make we We set the continued thereafter, to

And finalized XXXX feel We going our about have confident testing. China. timelines we into for

perspective around to have -- reconstruction, the growth, and moving for that next from and our gives happen, think into the breast years, world. of it entry many because few I the then first so is we Europe, the geographies into only other So, going us not things going in

coming up, U.S. coming We up, we market have have the we Mia and entry. China have thereafter

coming years. So, gets the multiplicity it for drivers growth I think of just

that. pandemic still still I think at affect dealing the questions the speed of fluidity one is those which with that everyone has, -- in we're can for of but and we we're probably

to trying same that all time. at work definitely out the So,

Matt Taylor

or hoping, have could of we hotspots, lot And up where countries specificity and and in the through know a some us things some I the know that what the you're really opened that but of I of give countries right. to how was us All maybe percentage which year? on could you sales like Okay. versus areas in still further pressure your ones of improve help think is about anything there's then

Renee Gaeta

that I Yes, headlines. our at quarter have doing been our it. came in XX% still and is and for protocols mean, and they're But in watching largest gets of certainly we're put Brazil, market one place, about lot of a surgeries the revenue

to nice growth temporary on see that growth perform. hot across going to even if So, even we things. or are which got that all regions, we've restrictions continues lockdowns country some pockets I was through think And saw -- saw

juggling we're so that. And of sort

I the from. they're seeing momentum are through how and and the demand their they're about think, our as that also about the half of orders back thinking think come year distributors where they doing

overall, through So, though take continue are Europe, within is that games country the even Latin managing and sort and of to share managing we America forward, march we individually. each pandemic pockets different Asia-Pacific

Matt Taylor

this I guidance? how you terms on exit sneak contemplated can Great. additional you of in for Could dollars competitor of about Very really can your of maybe questions validating true. on give more, had Allergan's strategy much and talked there your up with grabs and some any be one is is that share investor a exit? whether that updated thoughts in lot And the

Juan José Chacón Quirós

ago. I texture I we've Yes, pulled In talked think what they market off macro their And a Allergan just will market, reiterate, selling about the years devices. was couple international before. mainly the those

done been But be market from companies that. to take taking other the been we of share over other competitors, market Europe from couple those beneficiaries with definitely all And years. place the share the gains textured has breast of time. of from implants we've most J&J, last So, in

wherever patients are share to part surgeons can gains focused from comes first devices coming just those will on we definitely they their textured from non-textured don't them. market be patient it of make awareness they and or devices, job it to when So, get -- choice telling And we and Motiva. that

said and again to markets four markets we'll work. those get and Establishment thing before, main the And to with our where is -- testament compete chose do that the Labs thing. that don't I they and and eventually think the in same that a is they this we've to stay again,

Matt Taylor

you. Thanks a Thank lot.

Juan José Chacón Quirós

you. Thank

Operator

Thank you.

Our next BTIG. is question of ahead. coming from Thibault Marie go Please

Marie Thibault

that Hi, driver some been we you help I nice quarter. know if very the and exciting taking that guess could to questions of that what We about forecast? the of sort think questions And there just that terms to you'll very plan you'll earlier, whether patients the thinking better target of a of our kind to how a have to thank wondered of growth years and might obviously, it's congrats whether opportunity. digital market, premium market for China, in on couple wanted ask, start want large with Thanks. that. in means? us follow-up on of a you I a could commentary I through price, understanding a very to get about distributor, work you the mean approach next asked

Juan José Chacón Quirós

Yes, Labs. Establishing and China is opportunity for an exciting

using came China. Before countries from many Motiva Asia, South the the Korea, pandemic, like of other in patients of

data were receive many that and implants. of have in are was Thailand, China but coming out and we Taiwan also Japan from coming now Motiva South we XX%, patients Korea to

very that the know we Chinese So, well product consumer. with our does

as can that consumer So, comes powerful digital our means that we the the opportunity be aesthetics, can fact from through in create share market and market. is awareness mostly very in up the speeding that well going into that gains Chinese

far I on the have think engagement with have social proven that of that we already China, outside most patients media. we by

When happen a continue comes we that's good we stay it and have for regulatory our testing to in market with target continue product to said, really make So, XXXX. pathway there, for can to precedent China. we our what progress as to with

will We to ways. have partner for many the player not in partner us best, direct market. mentioned surgeon, as of we that to for consumer see only that with China And have great a work hybrid to a going but the be different and that we before direct making we also

Marie Thibault

the I'd of share on follow-up see thank finalize impact a the hear them love world. report, maybe great you. report. of And the parts that then other of obviously, to Okay, to the kind

to textured, like a I are of correctly. think I macro lot recall do that revenue, meaningful if your Brazil markets still big I recall

impact the So, of having taking detail us kind be globally? maybe thanks might share the you And report can for questions. for what

Juan José Chacón Quirós

you. thank Yes,

this relates the I a one, report then policy. and to not about think ALCL. goes to devices policy The scientific and the share textured the should to is report to the there number European creating of Commission. legislative on safety report is something the share make as everyone It remember, it that is individual health authorities,

this. do associated in think that certain the countries certain evidence have to the going outside the of just consequences for will with have and us, smooth a it for not risk with And not more because properly also Europe, moving to their We devices is market, many should to -- of like surgeons that potential patients it's be deal be problem of to things So, implants of but informing more certain that well. of certainly patients will again, realize as choices. take time they additional

how they to do that's has of over been They've already Australia and macro in lot going take know don't I texture XX many So, to continue devices long Brazil. months their work. a done banning last so. the

manage local bodies So is again, of in quite I lot to that regulatory the manufacturers case they a also expectations. of the some Brazil, think consideration because for have. also that work to it's And and do they a need have you have

Marie Thibault

much. so Thanks

Operator

Thank you closing to to additional any at back over comments. time, floor like turn this for I'd the management or

Juan José Chacón Quirós

update please safe. Yes, for forward look on quarterly us next to stay August today's joining thank and We our in call. you providing

Operator

interest your for in you thank gentlemen, and Ladies Labs. Establishment

log You have wonderful off day. your may the or and this disconnect at lines time a webcast

Establishment Labs (ESTA) 9 May 212021 Q1 Earnings call transcript