SpineGuard Revenue Dips 19% in Strategic Pivot to Long-Term Growth

PARIS, France – January 19, 2026 – Medical device innovator SpineGuard (FR0011464452 – ALSGD) has reported a significant downturn in its 2025 revenue, a move it describes as a deliberate and temporary consequence of a major strategic overhaul aimed at long-term profitability. The company announced full-year consolidated revenue of €3.76 million, a 19.1% decrease from the previous year, driven primarily by a fundamental transformation of its business model in the United States.

This transition involves the pending sale of its U.S. subsidiary, SpineGuard Inc., to its strategic partner, Omnia Medical. While causing a short-term hit to the top line, company leadership asserts the move is critical for improving operational performance and achieving financial stability.

"The actions taken in 2025 to adapt our cost structure, particularly in the United States, significantly improved our operating performance, while having a temporary downward impact on our revenue," stated Pierre Jérôme, CEO and co-founder of SpineGuard. He pointed to sequential revenue growth in the fourth quarter and expansion in European and Asian markets as signs of the model's underlying resilience.

A Calculated Contraction in the U.S. Market

The core of SpineGuard's revenue story lies in its largest market, the United States. U.S. revenue for 2025 fell to $2.63 million, a 24% decrease from the $3.47 million reported in 2024. This decline is not attributed to flagging demand but to the structural shift in its partnership with Omnia Medical. The companies are moving from a direct sales model to a deeper, more integrated alliance.

Under the terms of a binding agreement, Omnia Medical will acquire SpineGuard Inc., taking over the commercialization of SpineGuard's flagship PediGuard devices in the U.S. This leverages Omnia's larger commercial network, particularly in the interventional and outpatient surgery markets. In turn, SpineGuard will focus on its core competencies: designing and manufacturing its proprietary devices, which it will sell to Omnia at contractually defined prices. This pivot is expected to substantially lower SpineGuard's operational costs and improve margins, even as it results in lower recognized revenue in the short term.

While the U.S. market contracted, other regions showed promise. Revenue in Europe grew by 1%, and Asia saw a remarkable 40% increase in 2025. These gains were offset by declines in Latin America and the Middle East, though the company anticipates a significant order from Saudi Arabia in the first half of 2026 following a recent tender win.

Overall unit sales for SpineGuard's DSG® technology saw an 11% decline, with 5,482 units sold in 2025 compared to 6,142 in 2024. The U.S. accounted for 36% of these sales.

Fortifying Finances for the Future

A crucial element of the strategic pivot is shoring up the company's financial foundation. The finalization of the SpineGuard Inc. sale to Omnia Medical is contingent upon the repayment of bonds issued to Norgine Venture and Harbert European Growth, which matured in January 2026. According to the company's statements, settling this main debt is a key milestone that clears the path for the deal's completion.

SpineGuard ended 2025 with a cash position of €1.79 million. Bolstered by a capital increase in December 2025 and a leaner cost structure, the company believes it has secured its financing needs until the fourth quarter of 2026. The firm's stated goal is to achieve operational break-even by the end of this year.

This financial maneuvering is part of a broader trend in the medical technology sector, where smaller, innovation-focused companies often form strategic alliances or pursue mergers and acquisitions to compete with industry giants like Medtronic and Stryker. By partnering with Omnia Medical, SpineGuard gains access to a robust commercial infrastructure in the U.S. without the associated overhead, allowing it to focus resources on research, development, and manufacturing.

Beyond the Spine: New Frontiers for DSG® Technology

Despite the financial restructuring, the core of SpineGuard's long-term value proposition remains its proprietary Digital Surgical Guidance (DSG®) technology. This radiation-free, real-time sensing platform differentiates itself in a crowded surgical navigation market by measuring the electrical conductivity of tissue at the tip of a surgical instrument. This provides surgeons with immediate feedback to help prevent breaches of the bone wall, which can lead to severe neurological or vascular complications. With over 110,000 procedures performed and 39 peer-reviewed studies validating its benefits, DSG® is a proven technology.

Now, the company is aggressively pursuing the expansion of DSG® into new, high-growth medical fields.

One of the most immediate developments is in sacroiliac (SI) joint fusion. In collaboration with Omnia Medical, SpineGuard co-developed the PsiFGuard device, which integrates DSG® to secure the placement of SI joint implants. The device received FDA clearance in September 2024 and was officially launched by Omnia Medical at the North American Neuromodulation Society (NANS) conference this month. This launch is perfectly timed to capitalize on a new U.S. payment code for SI joint fusion, which is expected to accelerate growth in this already booming market segment.

Furthermore, SpineGuard is advancing its technology into the multi-billion-dollar surgical robotics and dental implantology markets. The company has been collaborating with robotics institute ISIR since 2017 to integrate DSG® into surgical robots, aiming to enhance their safety and accuracy by providing real-time tissue feedback that current navigation systems lack. In the dental field, the precision of DSG® could help prevent nerve damage and improve outcomes in the rapidly growing dental implant market, which is projected to exceed $1.7 billion in 2025.