Spineway

Spineway reported first-half 2026 revenue of €5.7 million, a 3% increase from €5.6 million a year earlier, and announced a bond issuance of up to €1.5 million to fund working capital needs. The gross margin remained relatively stable at 67%, while the operating loss widened to €1.6 million from €1.2 million, reflecting planned regulatory investments and non-recurring charges from a new ERP implementation. The net loss stood at €1.5 million, benefiting from a positive foreign exchange effect and limited interest charges. The company also highlighted the acceleration of its Medical Education strategy to support international deployment of its ESP disc prosthesis range. The bond financing, arranged with a fund managed by Melbourne-based L1 Capital, consists of simple bonds with an initial subscription of €1 million received on July 30, 2026, and an additional €0.5 million available upon request by March 15, 2027, carrying a 6% annual interest rate and an 18-month maturity.