Orthocell (OCC) H2 2024 earnings summary

Executive summary

• Revenue increased 30.5% year-over-year to $6.76 million, driven by product sales and contract revenue.

• Net loss after tax widened to $7.18 million from $6.25 million in the prior year.

• Cash position remains strong at $20.6 million, supporting ongoing R&D and global expansion.

• Key milestones include board renewal, expanded global partnerships, and regulatory progress for core products.

Financial highlights

• Revenue from sale of goods rose to $3.01 million (2023: $1.94 million); contract revenue steady at $2.3 million.

• Gross profit increased to $1.38 million (2023: $0.91 million).

• Total expenses grew to $15.37 million (2023: $13.56 million), mainly due to R&D and business development.

• Basic and diluted loss per share was $(0.036) (2023: $(0.032)).

• Net operating cash outflow was $6.5 million, improved from $14.6 million outflow in 2023.

Outlook and guidance

• Focus remains on regulatory approvals and commercialisation of Remplir™ in the US and other key markets.

• Cash reserves will fund product launches, business development, and working capital.

• Continued development of collagen medical device platform and cell therapies is planned.