BONESUPPORT (BONEX) Q3 2026 earnings summary

Executive summary

• Q3 net sales rose 39% reported and 38% at constant exchange rates to SEK 408.8m; adjusted operating result was SEK 139.3m and adjusted operating margin was 34%.

• Growth across the US and EUROW coincided with CMS reimbursement changes and publication of SOLARIO results.

Financial highlights

• Net sales were SEK 408.8m versus SEK 294.1m in Q3 2025; reported growth was 39% and CER growth was 38%.

• Reported operating profit was SEK 123.4m versus SEK 65.4m; adjusted operating result was SEK 139.3m versus SEK 78.6m.

• Operating cash flow was SEK 137.8m, with 99% cash conversion; quarter-end cash was SEK 510.5m.

• Q3 gross profit was SEK 376.0m; net income was SEK 92.4m and diluted EPS was SEK 1.39.

• 9M net sales were SEK 1,088.6m, up 33% CER; adjusted operating result was SEK 328.3m.

Outlook and guidance

• FY 2026 sales-growth guidance remained 33%–36% at constant exchange rates.

• Higher CMS reimbursement for qualifying CERAMENT G cases took effect October 1, 2026, and is expected to support broader use.

• The complete CERAMENT V supplemental data package was submitted to the FDA in September; review continued, with a formal response expected in Q4 or Q1.

• Spine market-entry plans remained on track, with CERAMENT BVF in the short term and antibiotic-eluting CERAMENT longer term.