Board Change • May 21
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Nuan Ni was the last director to join the board, commencing their role in 2024. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 14
Implanet S.A., Annual General Meeting, Apr 17, 2026 Implanet S.A., Annual General Meeting, Apr 17, 2026. Location: allee f, magendie technopole bordeaux montesquieu, martillac France Announcement • Mar 03
IMPLANET Receives FDA Clearance for the Swingo Anterior Cervical Cage IMPLANET announced that it has received clearance from the U.S. Food and Drug Administration (FDA) for its Swingo anterior cervical cage. Developed through the work of a dedicated development group established in 2024 with a panel of international surgeons, the Swingo cage range features a broad portfolio of implant sizes with a design tailored to vertebral anatomy, ensuring improved control of interbody fusion. These titanium implants, manufactured using 3D printing technology, can be used for all types of procedures, regardless of the surgical approach chosen by the surgeon. A dedicated next-generation instrumentation range is included in this clearance and is designed to enhance patient safety while reducing surgical time. In the short term, combined with JSS (posterior fusion system), it will enable IMPLANET to offer a comprehensive range of implants dedicated to spinal fusion in the United States. The potential synergies created by the expanded product portfolio fully support the strategy to strengthen presence in the U.S. This represents another structural step in the development plan, aimed at reinforcing the offering in the spine surgery segment within a market estimated at $1.35 billion. This clearance will also allow commercialization of this range, in addition to the existing portfolio, with many distributors in countries recognizing U.S. FDA regulations, pending CE marking for the European market. Announcement • Dec 17
IMPLANET Announces First Surgeries Using the Jazz System in China IMPLANET announced the successful completion of the first surgical procedures using the JAZZ system in China. As part of a distribution partnership signed in November 2022, IMPLANET and Sanyou Medical have completed the regulatory registration of the JAZZ range on the Chinese market, the largest in the world by volume potential. The JAZZ range, dedicated to band-based fixation for the treatment of spinal pathologies, is supported in China by Sanyou Medical, a recognized player with a strong nationwide network and proven clinical expertise. In July 2025, the JAZZ system obtained regulatory approval from the CFDA in China, paving the way for its commercialization in China. The first shipment of implants, invoiced to Sanyou Medical, took place in September 2025. The JAZZ range was officially presented from November 11 to 14, 2025, at the Sanyou Medical booth during the Annual Congress of the Chinese Orthopaedic Association (COA), the leading scientific event for the Chinese orthopedic community. Following this launch, the first surgeries using the JAZZ system in China were successfully performed by Dr. Huanxiang Chen, Head of the Spine Surgery Department at Hainan Medical University, China. Prior to these first procedures, Dr. Chen completed a two-month clinical training program in France at leading hospital centers, under the supervision of expert spine surgeons: Prof. Illharreborde - Robert-Debre Children's Hospital, Paris, Prof. Ferrero - Georges-Pompidou European Hospital, Paris, Prof. Barrey - Wertheimer Hospital, Hospices Civils de Lyon, Prof. Cunin - Hopital Femme Mere Enfant (HFME), Hospices Civils de Lyon. This in-depth training ensured a complete transfer of expertise, enabling optimal handling of the JAZZ system in full compliance with international standards of quality and safety. Beyond Hainan, additional procedures were also performed in Shanghai and Beijing, reflecting IMPLANET and S any reference hospitals. Announcement • Jul 16
IMPLANET Announces CFDA Approval for Its Innovative JAZZ Range in China IMPLANET announced that its innovative JAZZ range has been approved by the CFDA in China. As part of a distribution partnership signed in November 2022, IMPLANET and Sanyou Medical have successfully registered the JAZZ range, dedicated to tape fixation in the treatment of spinal pathologies, on the Chinese market, the world's largest potential market in terms of volume. This is a major milestone in the strategic partnership with Sanyou Medical. The JAZZ system can be used in combination with the full range of spinal fixation systems already developed by Sanyou Medical, offering Chinese surgeons a complete hybrid surgical solution that is unique in this market. Announcement • Apr 25
Implanet to Co-Exhibit Its Innovative Spine Solutions Alongside 8I Robotics' Next-Gen Robotic Solutions At AANS in Boston At this year's American Association of Neurological Surgeons Annual Meeting (AANS) Annual Meeting in Boston, USA, IMPLANET will co-exhibit at booth #1029 alongside fellow innovator 8i Robotics, pioneering the development of a multi-arm robotic system for use in spine and orthopaedic surgery. IMPLANET will present its Jazz Spinal System (JSS), a complete pedicle screw offering now in its initial US launch. From open and minimally invasive degenerative spine surgery to more complex deformity cases, the JSS system offers a wide range of pedicle screws covering the entire thoracolumbar spine. In the innovations-themed exhibit booth, IMPLANET will be featuring OLEA, its ultrasonic osteotome technology, as well as highlighting the launch of JSS. IMPLANET'S OLEA ultrasonic scalpel technology enables surgeons to perform safer and more controlled bone removal while sparing soft tissueand neural structures. The device's non-rotating micro-vibration frequency enables efficient and precise cutting while significantly reducing harmful noise pollution and heat transfer found in competitive systems. The easy-to-use system cuts bone like aknife rather than having to press down, or "jackhammer", as is found in other competitive systems. 8i Robotics will demonstrate first-of-its-kind multi-arm surgical robot technology. The system builds on the latest developments in robotics, surgical navigation, and optical imaging technologies to offer a modular platform for precision spine surgery. With a humanoid body, the 8i Robotics system positions itself alongside the operating table to provide full reach from cervical spine to pelvis, with an integrated high torque power driver for pedicle screw insertion. Working with the master surgeon, embedded algorithms and undled implants allow 8i Robotics to provide spinal surgical assistance in both open and minimally invasive procedures while minimizing intraoperative radiation. Announcement • Mar 08
Implanet S.A., Annual General Meeting, Apr 11, 2025 Implanet S.A., Annual General Meeting, Apr 11, 2025. Location: allee f magendie technopole bordeaux montesquieu, martillac France New Risk • Sep 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -€4.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-€4.4m free cash flow). Earnings have declined by 9.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (205% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (€14.4m market cap, or US$16.0m). Announcement • May 15
IMPLANET Receives FDA Clearance for Its New Hybrid Fixation System Jazz Spinal System™ IMPLANET announced the Food and Drug Administration (FDA) 510(k) clearance of its new hybrid fixation system Jazz Spinal System™. As a result of the technological partnership established in November 2022 between IMPLANET and Sanyou Medical, this brand new and unique hybrid fixation system Jazz Spinal System™ encompasses the full range of technological expertise and R&D capabilities of both groups. It features a comprehensive solution of pedicle screws, combined with the most relevant Band implant range on the market, JAZZ®. Jazz Spinal System™ incorporates the latest developments and innovations in spinal surgery, including a complete system for the treatment of pediatric deformity as well as a comprehensive range of solutions for the treatment of adult spinal pathologies, including minimally invasive approaches. Designed for both traditional open surgery of the thoracolumbar spine and minimally invasive percutaneous fixation, this innovative system also meets the needs of surgeons treating complex deformities. Reported Earnings • Apr 07
Full year 2023 earnings released: €0.17 loss per share (vs €0.17 loss in FY 2022) Full year 2023 results: €0.17 loss per share. Revenue: €7.45m (down 7.2% from FY 2022). Net loss: €6.68m (loss widened 89% from FY 2022). Announcement • Mar 06
Implanet S.A. Announces Board Changes Implanet S.A. announced that during its meeting on March 5, 2024, Ms. Paula Ness Speers, Ms. Mary Shaughnessy and Mr. Jean Gérard Galvez each tendered their resignations from the Company's Board of Directors. These resignations took effect on March 5, 2024. Ms. Minhui Yang, CFO of Sanyou Medical, and Mr. Michael Mingyan Liu, co-founder and R&D Director of Sanyou Medical, were co-opted as directors for the remainder of their respective predecessors' terms of office, that is for the former until the end of the Annual General Meeting called to approve the financial statements for the year ended December 31, 2024, and for the latter until the end of the Annual General Meeting called to approve the financial statements for the year ended December 31, 2025. Implanet's Board of Directors is now made up of David Fan, who were appointed Chairman of the Board to replace Jean-Gérard Galvez, Minhui Yang, Michael Mingyan Liu, Ludovic Lastennet and Benjamin Letienne. New Risk • Feb 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 317% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (44% average weekly change). Shareholders have been substantially diluted in the past year (317% increase in shares outstanding). Minor Risk Market cap is less than US$100m (€9.87m market cap, or US$10.6m). Board Change • Nov 19
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Mary Shaughnessy was the last independent director to join the board, commencing their role in 2016. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 22
IMPLANET Announces the European Launch of the MIS Range, a Minimally Invasive Pedicle Screw System IMPLANET announced the launch of the MIS range, a minimally invasive pedicle screw positioning system, a result of joint developments with its partner Sanyou Medical. Minimally invasive spine surgery was developed to treat spinal pathologies while limiting tissue damage, Bleeding, and post operative infection, with the goal of faster recovery. The pedicle screw system proposed by Implanet consists of latest generation implants and a single set of instruments. The range of pedicle screws and associated implants provides surgeons with a comprehensive solution for treating degenerative, traumatic or tumoral spine pathologies. Within the framework of this European commercial launch, Implanet has initiated system demonstrations in various health centers in Europe and has already received its first orders in June 2023. Announcement • May 06
Implanet S.A. Appoints David Fan to the Board of Directors Implanet S.A. approved the appointment of Mr. David FAN to the Board of Directors for a period of three years. Reported Earnings • Apr 17
Full year 2022 earnings released: €0.17 loss per share (vs €0.54 loss in FY 2021) Full year 2022 results: €0.17 loss per share (improved from €0.54 loss in FY 2021). Revenue: €8.03m (up 31% from FY 2021). Net loss: €3.54m (loss narrowed 23% from FY 2021). Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has fallen by 56% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Director Mary Shaughnessy was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Oct 28
Implanet S.A. to Report Fiscal Year 2022 Results on Jan 17, 2023 Implanet S.A. announced that they will report fiscal year 2022 results at 5:40 PM, Central European Standard Time on Jan 17, 2023 Reported Earnings • Sep 21
First half 2022 earnings released: EPS: €0 (vs €0.24 loss in 1H 2021) First half 2022 results: EPS: €0. Revenue: €4.11m (up 11% from 1H 2021). Net loss: €2.08m (loss widened 14% from 1H 2021). Revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Medical Equipment industry in Germany. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. Independent Director Mary Shaughnessy was the last director to join the board, commencing their role in 2016. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Mar 17
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: €6.14m (up 2.1% from FY 2020). Net loss: €3.09m (loss narrowed 22% from FY 2020). Revenue missed analyst estimates by 20%. Over the next year, revenue is forecast to grow 51%, compared to a 11% growth forecast for the industry in Germany. Announcement • Feb 10
IMPLANET Announces the First Surgical Procedures in the United States with JAZZ PF IMPLANET announced the first surgeries in the United States with JAZZ™ PF, the latest innovation from its JAZZ® range. A unique concept on the market, JAZZ™ PF allows surgeons to create a soft landing of posterior spinal constructs to prevent proximal junctional kyphosis (PJK). This syndrome is a relatively common and serious complication following adult spinal deformity surgery. Studies show that up to 40% of patients who have undergone spinal deformity surgery develop PJK and may need to be reoperated. Use of JAZZ™ PF creates a stiffness gradient, between the upper instrumented vertebrae and the tethered proximal segmental level. Having obtained CE marking in Europe and 510(k) regulatory clearance from FDA in the United States, this solution is quick and easy to use and requires no specific instrumentation. Reported Earnings • Sep 23
First half 2021 earnings released The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: €3.72m (up 43% from 1H 2020). Net loss: €1.83m (loss narrowed 24% from 1H 2020). Reported Earnings • Mar 20
Full year 2020 earnings released: €1.27 loss per share (vs €3.07 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: €6.01m (down 19% from FY 2019). Net loss: €3.98m (loss widened 9.1% from FY 2019). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 61% per year, which means it is significantly lagging earnings. Announcement • Mar 19
Implanet S.A. (ENXTPA:ALIMP) agreed to acquire unknown majority stake in Orthopaedic & Spine Development for an enterprise value of €4.2 million. Implanet S.A. (ENXTPA:ALIMP) agreed to acquire unknown majority stake in Orthopaedic & Spine Development for an enterprise value of €4.2 million on March 17, 2021. Under the terms of agreement, Implanet S.A. will pay €2.4 million in cash and remaining €1.6 million in Implanet securities. The transaction will be funded by the bond convertible into shares set up with Nice & Green for a maximum of €5.0 million. The final acquisition percentage will be communicated shortly after finalization of the legal documentation and the founding shareholders of OSD will also become shareholders of IMPANET. The transaction is subject to approval of offer by Implanet S.A shareholder. AS of March 17, 2021 Implanet S.A shareholder approved the deal. Before March 31, 2021, Implanet will convene a General Meeting in order to submit the takeover agreement to its shareholders. Is New 90 Day High Low • Dec 19
New 90-day high: €1.06 The company is up 7.0% from its price of €0.99 on 18 September 2020. The German market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Medical Equipment industry, which is up 9.0% over the same period. Announcement • Nov 06
Implanet Signs Distribution Agreement for its JAZZ Platform Products in Mexico IMPLANET announced the regulatory approval by Cofepris of its products based on the JAZZ Spine product range and the signing of a distribution contract with Novovascular Technologies for the marketing of these products in the Mexican market. Novovascular Technologies, a company that specializes in offering innovative products to health professionals, will have the commercial rights to the JAZZ platform in Mexico. This distribution agreement will allow Implanet to enter the Mexican spine market, the largest Central American market, estimated to be worth 60 million dollars2. The Mexican market was considered as a priority by Implanet in its internationalization plan, particularly due to the interest of the sub-laminar fixation technique resulting from the “Luqué” clinical experience in the treatment of spinal deformities. Implanet distributes its products either directly or via strong partnerships with high-quality distributors in more than 15 countries around the world. This new partnership further strengthens its sales potential overseas, complementing its already well-established activity in Brazil. Is New 90 Day High Low • Oct 29
New 90-day low: €0.75 The company is down 32% from its price of €1.10 on 30 July 2020. The German market is down 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is down 1.0% over the same period. Is New 90 Day High Low • Sep 26
New 90-day low: €0.84 The company is down 38% from its price of €1.36 on 26 June 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Medical Equipment industry, which is down 2.0% over the same period. Reported Earnings • Sep 19
First half earnings released Over the last 12 months the company has reported total losses of €4.23m, with losses narrowing by 8.0% from the prior year. Total revenue was €6.18m over the last 12 months, down 11% from the prior year.