Reaching milestone in orthobiologics sales
OssDsign AB (publ) announces that the interim report for Q2 2024 is now available as a PDF on the company's website www.ossdsign.com/reports. A PDF version is also attached to this press release.
The Q2 2024 results will also be presented at an investor webcast today August 20th at 11:00 CET. The webcast can be accessed via the following link: www.finwire.tv/webcast/ossdsign/q2-2024/ or via the OssDsign website.
The second quarter in figures
- Net sales amounted to TSEK 29,737 (23,997), corresponding to a growth of 143%, or 139% with constant exchange rates, compared to the relevant Q2 numbers 2023.
- The U.S. business continued its very strong growth, quarter on quarter, and has now demonstrated 9 consecutive quarters of triple digit growth.
- Gross margin of 93.2% vs a blended margin of 74.6% in the same quarter in the previous year.
- Operating loss of TSEK 15,295 (21,328). Sales variable costs increased whereas non-sales variable costs decreased compared to the previous year. Total operating expenses increased vs the previous year, driven by higher commissions.
- Loss after taxes amounted to TSEK 15,689 (20,362).
- Earnings per share improved to SEK -0.2 (-0.3).
- Cash flow from operating activities was TSEK -18,449 (-23,072), which was better than the previous year as well as the previous quarter, despite the final cash effect of the non-recurring cost accruals.
The first half year in figures
- Net sales amounted to TSEK 56,766 (45,463), corresponding to a growth of 170% compared to the relevant first half year numbers 2023.
- Gross margin of 93.4% vs a blended margin of 72.6% in the same period in the previous year.
- Operating loss of TSEK 27,329 (44,945). Sales variable costs increased whereas non-sales variable costs decreased compared to the previous year. Total operating expenses increased vs the previous year, driven by higher commissions.
- Loss after taxes amounted to TSEK 26,837 (43,527).
- Earnings per share improved to SEK -0.3 (-0.6).
- Cash flow from operating activities was TSEK -46,652 (-49,774), which was better than the previous year.
Important events during the second quarter
- OssDsign awarded long-term agreement with Premier, Inc.
- OssDsign expands military access with new contract covering 100 additional VA orthopedic hospitals.
- 5,000 patients treated with OssDsign® Catalyst in the U.S.
Important events after the end of the second quarter
- There were no important events to report after the end of the second quarter
For further information, please contact:
Morten Henneveld, CEO, OssDsign AB
Tel: +46 73 382 43 90, email: morten.henneveld@ossdsign.com
Certified Adviser
The Company's Certified Adviser is Carnegie Investment Bank AB (publ)
About OssDsign
OssDsign is a developer and global provider of next generation orthobiologics products. Based on cutting edge material science, the company develops and markets products that support the body's own healing capabilities, giving patients back the life they deserve. The company has a strong presence in the U.S. market. OssDsign's share is traded on Nasdaq First North Growth Market in Stockholm, Sweden.
This disclosure contains information that OssDsign AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 07:00 CET on August 20, 2024.
