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BONESUPPORT (BONEX) investor relations material
BONESUPPORT Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 net sales reached SEK 294.1 million, up 24% year-over-year and 34% at constant currency, driven by strong US segment performance.
Adjusted operating margin was 27%, with an adjusted operating result of SEK 78.6 million, and robust cash position of SEK 379 million at quarter-end.
Publication of the SARAHIP/CeraHip study and strong clinical evidence for CERAMENT G support expansion into revision arthroplasty and new orthopedic markets.
U.S. market momentum remains high, especially for CERAMENT G, with new account growth and increased usage among existing customers.
CMS approved NTAP for CERAMENT G in open trauma, providing additional US hospital reimbursement from October 1, 2025.
Financial highlights
Net sales were SEK 294.1 million, up from SEK 237.5 million in Q3 2024, a 24% rise year-over-year and 34% at constant currency.
U.S. sales reached SEK 246.3 million, up 40% at constant exchange rates; CERAMENT G sales in the U.S. grew 59%.
Gross margin remained high at 92.9% for the quarter.
Operating cash flow was SEK 71.1 million, with cash at period end of SEK 379 million.
Adjusted operating result was SEK 78.6 million; reported operating result SEK 65.4 million, impacted by long-term incentive program costs.
Outlook and guidance
Guidance for full-year 2025 sales growth above 40% in constant currency is maintained.
Management expresses high confidence in achieving guidance, citing strong account-level momentum and favorable comparables for Q4.
Preparation for entry into the Spine market in Q4 2025 and Capital Markets Day planned for spring 2026.
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