Implanet: Revenue up 23% in first half, gross margin at 59.5%
Implanet published on September 15, 2026 its accounts for the first half of the current fiscal year, closed on June 30, 2026.
The orthopedic implant manufacturer recorded a 23% increase in revenue, driven by the JSS posterior fixation system and activity in the United States, while the 7-point improvement in gross margin rate enabled it to reduce its operating loss by 13% despite accelerated commercial investments.
Revenue of €7.13 million, eighth consecutive quarter of growth
Revenue for the first half of 2026 stood at €7.13 million, compared to €5.81 million for the same period in 2025, representing a 23% increase (€1.33 million). The company indicates this marks the eighth consecutive quarter of growth.
Spinal implant activity generated €4.81 million, compared to €3.99 million a year earlier, driven by the new hybrid JSS posterior fixation system, whose sales doubled over the period. Medical equipment distribution, with the SMTP ultrasonic scalpel, reached €2.31 million, up 27% from €1.82 million.
All geographic regions advanced. France increased by 13% to €2.62 million, the United States by 54% to €2.44 million, and the rest of the world by 9% to €2.07 million.
Gross margin at 59.5%, operating loss reduced to €1.87 million
Gross margin reached €4.24 million in the first half of 2026, compared to €3.05 million a year earlier, representing a 39% increase. The gross margin rate stood at 59.5%, compared to 52.5% in the first half of 2025, a 7-point improvement.
The company accelerated its commercial and marketing investments, up €1.10 million compared to the same period in 2025. Operating charges rose from €5.20 million to €6.10 million.
Operating loss decreased by 13%, to €1.87 million, compared to €2.14 million in the first half of 2025. After accounting for the financial result (primarily consisting of a foreign exchange loss), net loss stood at €2.14 million, compared to €2.10 million a year earlier.
Cash position of €1.01 million and commercial priorities for 2026
As of June 30, 2026, cash stood at €1.01 million. Based on its projected cash consumption, anticipated commercial developments for fiscal years 2026 and 2027, and payment facilities granted by the Sanyou Medical group, the company believes it is able to cover its operational financing needs for the next twelve months.
Its priorities include strengthening its presence in the United States through the recruitment of a sales force, rolling out the JSS and Sanyou Medical product lines in France, the United States and internationally, as well as expanding the Jazz platform in China with Sanyou Medical. It also plans to launch the SMTP Quntas range and finalize the registration of its products under the European MDR regulation and the FDA 510(k) process.
Third quarter 2026 results will be published on October 13, 2026, after market close.
