Benzinga | Oct 21, 2020 08:20AM EDT

Establishment Labs Sees Prelim. Q3 Sales $22M-$23M vs $18.3M Est.

* $22 million to $23 million 3rd Quarter Preliminary Revenue

* Cash Balance at September 30, 2020 an Estimated $81.0 million

* Company to Announce Full 3rd Quarter Results on November 9

SANTA BARBARA, Calif., Oct. 21, 2020 (GLOBE NEWSWIRE) -- Establishment Labs Holdings Inc. (NASDAQ:ESTA), a medical technology company focused on women's health, initially in the breast aesthetics and reconstruction market, today reported strong preliminary revenue and cash figures for the quarter ended September 30, 2020.

Total revenue is expected to be in the range of $22.0 million to $23.0 million, comparable to the $22.9 million reported for the same period in 2019, and more than double the $10.5 million reported for the quarter ended June 30, 2020. The Company's cash balance at September 30, 2020 was an estimated $81.0 million.

"We are very pleased with our performance during the third quarter, which reflects strong sequential growth and a diligent focus on cost control," said Juan Jos? Chac?n-Quir?s, Chief Executive Officer of Establishment Labs. "Our business is recovering with the strength and resiliency we had hoped for, and this success speaks to our highly differentiated product portfolio. Combined with our robust pipeline of innovative new technologies, we believe that our business is well positioned to continue gaining market share."