Spineway Reports Third-Quarter Revenue Decline Due to Supply Chain Challenges

Spineway, a specialist in innovative implants for the treatment of severe spine disorders, reported a third-quarter revenue of €2.3 million, a 23% decrease from the €3.0 million recorded in the same period in 2023. The company noted an uneven trend in quarterly sales in 2026, with a 25% drop in Q1, a 30% increase in Q2, and a 25% decline in Q3. These fluctuations, according to the release, reflect ongoing supply chain challenges with certain subcontractors, despite overall sales momentum remaining strong.

For the first nine months of 2026, consolidated revenue stood at €8.0 million, marking a 7% decrease from the €8.5 million reported in the same period in 2023. In France, the company saw a 4% increase in revenue, reaching €3.9 million, while sales in Europe edged down by 3%, totaling €1.6 million. Internationally, which accounted for 51% of the company’s consolidated revenue, the performance was mixed. In Asia, sales grew strongly by 27%, driven by the ramp-up of new accounts and continued strong demand for the Group’s disc prostheses. By contrast, Latin America experienced a decline to €1.9 million, a 33% drop, due to supply constraints on specific product ranges and a temporary slowdown related to national elections in several countries. However, the region remains a high-potential market for the Group, which has refreshed its distribution network there and will soon receive marketing authorizations in key countries for its arthrodesis and intervertebral disc replacement product lines.

In the Middle East and Africa, business rebounded in the third quarter but was not enough to offset a first half that was severely impacted by a collapse in sales due to regional conflict. Over nine months, regional revenue was €0.3 million, a 25% decrease from the €0.4 million reported in the same period in 2023.

Stéphane Le Roux, Chairman and CEO of Spineway, expressed satisfaction with the appointment of Erwan Martin as Deputy Chief Executive Officer, effective October 1, 2026. Martin, who previously served as the Group’s Chief Financial Officer, will support executive management in steering Group operations and executing its growth strategy.

Spineway, with an international network of over 50 independent distributors, noted that more than 70% of its revenue comes from exports. The company is eligible for PEA-SME (Equity Savings Plans for SMEs) and invites shareholders to a webinar on Tuesday, October 20, 2026, at 5:30 p.m. CEST, where it will discuss its latest news and outlook.