Orthocell (OCC) Q2 2025 TU earnings summary

Executive summary

• Achieved third consecutive quarter of record revenue at $2.21 million for December 2024, up 9% sequentially and 46% year-over-year.

• Strong sales momentum for Striate+ and Remplir, with expanding adoption among surgeons and entry into new markets.

• Advanced global expansion with first major international regulatory approval and sales of Remplir in Singapore.

• Submitted US FDA 510(k) application for Remplir, targeting the $1.6 billion US nerve repair market, with clearance expected by April 2025.

• Strengthened US commercialisation team with two experienced executives to drive Remplir launch.

Financial highlights

• Quarterly revenue reached $2.21 million, up from $2.03 million in September 2024 and $1.51 million in December 2023.

• Compound quarterly revenue growth rate of 9% over the last nine quarters since product launches.

• Cash receipts from customers totaled $1.314 million for the quarter.

• Net cash used in operating activities was ($3.62 million) for the quarter.

• Cash balance at quarter end was approximately $31 million.

Outlook and guidance

• Anticipates US FDA clearance for Remplir in late March or early April 2025, enabling entry into the US market.

• Expects significant revenue growth potential from US market entry and ongoing global expansion.

• R&D grant of over $3 million expected in March 2025 quarter to further support expansion.