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Ondine Biomedical (OBI) investor relations material
Ondine Biomedical H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved 18% year-over-year revenue growth in H1 2025, with gross margin up to 65% and over 200,000 patients treated globally, supported by strategic partnerships and commercial expansion in Canada, UK, and EMEA.
Strategic investments in clinical trials, distributor onboarding, and rollout of next-generation products contributed to margin gains and revenue growth.
Net loss widened to $12.6 million for H1 2025, with most sales in Canada and a material uncertainty regarding the ability to continue as a going concern.
Cash and restricted cash at June 30, 2025, totaled $5.6 million, with significant equity raised post-period.
Accumulated deficit reached $298.0 million as of June 30, 2025.
Financial highlights
Revenue for H1 2025 reached $1.01 million CAD, up from $0.86 million CAD in H1 2024 (18% YoY increase), with gross margin at $0.66 million CAD (65% of revenue).
Operating expenses rose to $13.2 million, up 58% year-over-year, mainly due to increased R&D and marketing costs.
Net loss widened to $12.56 million CAD from $7.76 million CAD year-over-year.
Net cash flows from financing activities were $5.5 million in H1, with an additional £11 million (~$21 million CAD) raised post-period.
41% increase in medical facilities using the product and 100% customer retention rate.
Outlook and guidance
Expecting sustained revenue growth in the second half of 2025, with ongoing strategic investments in clinical development and commercial expansion.
Cash runway secured through the end of Q2 2026 following recent funding.
Management believes existing cash and anticipated financings will support operations for at least the next twelve months, but ongoing need to raise additional funds remains.
Anticipate rapid rollout in the U.S. post-FDA approval, leveraging existing hospital relationships.
No specific revenue or hospital increase guidance provided for future years.
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