Ortoma (ORT) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 reached SEK 38.7 million, up from SEK 4.4 million year-over-year, driven by milestone payments and product sales.

• EBITDA improved to SEK 19.5 million from SEK -2.6 million, and net income after financial items was SEK 16.3 million versus SEK -5.6 million last year.

• Regulatory milestones achieved: supplementary 510(k) FDA submission for Custom OTS™ Hip and CE certification for OTS™ Hip Guide, enabling US and EU market entry.

• New CEO, Fredrik Strömberg, appointed effective May 15, 2025, to lead commercialization and growth.

Financial highlights

• Net sales: SEK 38,716,276 (SEK 4,439,789), with SEK 22.1 million from milestone payments.

• EBITDA: SEK 19,532,983 (SEK -2,621,931); net income after tax: SEK 16,303,641 (SEK -5,600,164).

• Earnings per share: SEK 0.44 (SEK -0.15), both basic and diluted.

• Cash flow for the quarter: SEK 13,278,066 (SEK -10,358,599); cash and cash equivalents at period end: SEK 31,097,896.

• Equity ratio: 91.4% (91.2%); equity per share: SEK 4.81 (SEK 4.53).

Outlook and guidance

• Focus remains on expanding recurring revenues as commercialization progresses, with milestone payments causing quarterly fluctuations.

• Long-term ambition is to build recurring revenue streams from product and system sales as market launches advance.