SpineGuard shares stumbled on the Paris Bourse on Friday, despite the medical device manufacturer announcing strong growth in its 2022 annual results and a cash position judged to be "comfortable".

The company, which has developed a surgical guidance technology to simplify the placement of bone implants, generated sales of 5.6 million euros last year, up 27%.

EBITDA will improve by 17% in 2022, with a loss of -888,000 euros compared with -1.06 million in 2021.

Consolidated sales for the first quarter came to 1.27 million euros, compared with 1.13 million euros a year earlier, representing growth of 12% at actual exchange rates (+10% at constant exchange rates).

After starting 2023 with double-digit growth, SpineGuard says it sees "good prospects" for the rest of the year, and reports a cash flow horizon of over 24 months, offering "comfortable" financial visibility, according to analysts at Invest Securities.

Following these statements, the stock fell by over 7% on the Paris Bourse on Friday, suffering from profit-taking after having gained nearly 35% since the start of the year at last night's close.

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