Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Safe Orthopaedics SA is a French medical technology company specializing in the design, manufacturing, and marketing of sterile implants and single-use sterile surgical instruments for spinal surgery. Founded in 2010 and headquartered in Eragny-sur-Oise, the company pioneers ready-to-use technologies aimed at treating spinal fractures, degenerative pathologies, and vertebral compression fractures, enabling minimally invasive procedures that reduce infection risks and cross-contamination. Its flagship SteriSpine product portfolio includes SteriSpine PS kits for spinal fractures and percutaneous treatments, SteriSpine VA for kyphoplasty and cement systems, SteriSpine LC for lumbar cages like Cedar and Elm, and SteriSpine CC for cervical cages such as Walnut. Protected by 17 patent families, these CE-marked, FDA- and CFDA-approved solutions support surgeons in emergency and routine settings worldwide, with subsidiaries in the UK, Germany, and the US. Safe Orthopaedics SA employs approximately 77 people and plays a niche role in the healthcare equipment sector by optimizing operating room workflows, saving time and costs through innovative spinal solutions.
The business is unprofitable at the operating level (-209.76% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 13.2% YoY. Margins deteriorated 101.0pp alongside, both lines moving the wrong way.
Free cash flow declined 105% versus the prior year, cash generation momentum has weakened. ROIC dropped from -3.55% to -5.90%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
€5M
▼ -13.2% YoY
Net Income (TTM)
-€1.93B
▼ -839.1% YoY
Op. Margin
-209.76%
▼ -101.0pp YoY
ROIC
-5.90%
▼ -2.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-€3M
▼ -105.2% YoY
Op. Cash Flow (TTM)
-€3M
▼ -102.6% YoY
Net Debt
€11M
Cash & Equiv.
€317K
3Y CAGR: +3.4%
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