Hello, everyone. My name is Pål Ryfors. I am the CEO of Episurf Medical, and I'm here to provide you with an update of our Q2 results published earlier this morning. We have a set of slides. You will find them on the website, attached to this recording, and I will refer to page numbers as we move along. On the first slide, we must highlight a couple of COVID-related aspects of our business. Overall, it was definitely a positive development in the second quarter. As you might recall from the Q1 presentation, the year started in a very challenging way, and we saw improvements in the later part of Q1, and these improvements definitely continued in the second quarter. However, investors should remember that our customers have significant pandemic-related backlogs of patients.
They are often candidates for total hip or total knee procedures. One way we noticed this in our business during the second quarter was that getting a slot for an MRI, for example, was quite challenging from time to time in various regions. It can vary quite a lot. The point here being that COVID is not entirely over, but it's definitely a development in the right direction. Moving on, talking about the highlights for the second quarter, and we are actually very pleased with the growth in the customer base that we saw during the quarter. We're now growing at the rate that we can consider to be satisfactory.
The definition of an active customer during a quarter is a surgeon, an orthopedic surgeon, somewhere in the world who orders at least one Episealer implant during the relevant period, which in this case is a quarter. We set a new record with 43 customers during the quarter. Our long-term target is that each customer annually should perform about 14 Episealer surgeries. In the short to mid-term for financial modeling purposes, we use about 50% of that, so that would mean seven. On the graph at the bottom on this slide, you see that the customer growth has been very volatile during the pandemic.
We can now say that we feel, and what we also see in the number in this quarter, is that we're actually on a growth path now, and, hopefully, this will continue. Why this is so important, focusing on the next slide with the calculation example. Our customer growth in the second quarter, as I mentioned, was 72%. If you play with the numbers that we continue this growth rate 12 months ahead in the future, we would have about 75 customers in that quarter. Historically, each single quarter, the customer figure has represented about 50% of the annual volume. That would mean that if history repeats itself here, we would have about 150 customers during that year. Again, this is a calculation example.
If you have 150 customers, and they all do seven Episealers per annum at the price of about SEK 25,000 per Episealer, then we have created the commercial business. That would only be the start of it. Let me then remind you that in Germany, for example, and this is Germany, it's one of our markets, has about 2,000 potential customers for us. The commercial opportunities are definitely out there. For the first time ever, maybe I feel strongly that we are on a growth path of capturing a great part of the customers that are available to us out there. Other highlights in the quarter is then that the gross order intake amounted to SEK 2 million up from SEK 1.4 million.
I want you to remember that the gross order intake, that's recognized when the surgeon approves the order, meaning that they order a fully customized implant and kit. There's the customer sort of past the point of no return. The invoicing only takes place at the time of surgery, which might be about five weeks after that. Invoicing varies quite a lot, especially during the pandemic, because the invoicing then again happens at the time of surgery. We believe the gross order intake is the best metric to follow our revenue generation as this is being materialized into revenues when the surgery happens. The loss for the period amounted to just over SEK 19 million, up slightly from last year.
The main reason for that is that we are now in an extremely intensive phase when it comes to product development. We have, as you might recall, two products in the pipeline for 510(k) processes. That obviously drives up the cost slightly. Again, repeating that we set a new record for customers in the quarter, 43, and that was 72% up, and our financial position remains very strong with just short of SEK 200 million at the bank at the end of the second quarter. Moving on to the next slide, Q2 2022 highlights. There were several other commercial and clinical milestones reached during the quarter.
If I should highlight something, I would like to mention that we are now seeing additional five-year data being presented at more clinical congresses by more surgeons, and the data sets are larger. We are yet to see the published results from a larger five-year follow-up, but the data looks extremely promising, and we are very confident about the long-term performance of the Episealer, and that's now being presented to more and more surgeons globally. At the bottom of the slide, we talk about product development, and I will go back to this product at a later point in this presentation. Moving on, creating a global commercial foundation update. We achieved a lot during the quarter, globally, and you know that we are casting a wide net here.
We are doing business across the globe, and if you look at the last 12 months, we have now done business in well over 15 countries. In the second quarter, I would like to highlight the scheduling of the first surgery in India. India is a market that has been on our radar for several years. Unfortunately, a stop for about 2.5 Years during COVID, but we now have the first surgery scheduled following surgeon visits that we talked about in the Q1 report. We have other progress to report during the quarter, and I would like to highlight Australia, where we now have had our first surgeon visits. We have signed up key opinion leaders who we work with, and we have met several potential customers.
I expect the first surgery in Australia to be scheduled rather sooner than later. It's worth repeating when you look at the slide that we are meeting an unmet medical need of significant size out there, and the potential customers that we are meeting globally, they welcome us because they are in need of something like this, and their patients are in need of something like this, and our technology is revolutionary, backed up by very strong scientific package. These are very positive discussions, I would like to say. As a final note, we should not forget that about 8% of the adult population globally suffers from knee OA. The numbers are huge, and whatever way you look at this is a very interesting market with significant commercial opportunities.
Looking at the strategy, rounding off, we are continuing to focus on the commercialization of the Episealer Knee in Europe and certain other markets, meaning markets like India, Australia, Middle East, et cetera. In the quarter, I would like to focus again on the strong customer generation that we had. For the Episealer Knee in the U.S., patient recruitment in the EPIC-Knee trial has been a disappointment, and it continues to constitute a disappointment for us. We see the work in the background. We are recruiting new sites that might be, in all honesty, more relevant for us for this particular trial, better opportunities to recruit patients given where we are. We are doing additional modifications in the clinical protocol, and we are marketing this to more and more patients and surgeons out there.
We are working very hard to make this trial a success. It's yet to be shown in the numbers. I'm confident it will, but unfortunately, we have nothing more to report today. On the Episealer Talus, the launch is ongoing in Europe, and during the quarter, about 10 patients were recruited to various clinical trials, so that was really good. The Italian trial that's being conducted at the Rizzoli Institute in Bologna, we expect that to be fully recruited in a week now. Episealer Patellofemoral System for the U.S. market, our first 510(k) filing is under substantive review by the FDA. We have a dialogue ongoing.
We have a response going in this week to the FDA, answering certain questions they have, and the dialogue is ongoing, and we expect this FDA approval to come during 2022, and we hope to have positive news for you, for the investors in the next weeks and months. The Episealer MTP project is, I will start to say very, very interesting. This is for the greater toe. The product development phase is ongoing according to plan, and we don't have any new updates on the timetable, and we reiterate our target of submitting a 510(k) application for the U.S. market for this indication, for this product in Q2 2022 or at the latest second half of 2023. We have about a six-month window there.
We are yet to come back to you with a confirmed and slightly narrowed down timetable. The shareholder list at the end of the second quarter, no major changes, and Ilija Batljan remains the largest shareholder of Episurf, followed by several pension funds, Rhenman & Partners, et cetera, et cetera. That was all from us today. Thank you very much for your attention and have a nice summer and hope to see you soon again. Thank you very much. Bye.