Ortoma (ORT) Q2 2025 earnings summary

Executive summary

• Achieved FDA approval for OTS Hip, enabling US market entry and triggering a $2M milestone payment.

• Net sales for H1 2025 rose 162% year-over-year to SEK 57.5M, with milestone payments as a key driver.

• EBITDA for H1 2025 reached SEK 24.1M, up from SEK 5.5M year-over-year.

• Result after financial items for H1 2025 was SEK 17.6M, compared to SEK -0.2M last year.

• Focus remains on international expansion, recurring revenue growth, and product launches in the US, Japan, and Europe.

Financial highlights

• Q2 2025 net sales: SEK 18.8M (Q2 2024: SEK 17.5M); H1 2025: SEK 57.5M (H1 2024: SEK 22.0M).

• Q2 2025 EBITDA: SEK 4.5M (Q2 2024: SEK 8.2M); H1 2025 EBITDA: SEK 24.1M (H1 2024: SEK 5.5M).

• Q2 2025 result after financial items: SEK 1.3M (Q2 2024: SEK 5.4M); H1 2025: SEK 17.6M (H1 2024: SEK -0.2M).

• Cash and cash equivalents at June 30, 2025: SEK 49.8M (June 30, 2024: SEK 21.5M).

• Equity ratio at June 30, 2025: 91.6% (June 30, 2024: 92.7%).

Outlook and guidance

• Ongoing preparations for OTS Hip launches in the US, Japan, and Europe.

• Emphasis on building recurring revenue streams as product adoption grows.

• No significant cost impact expected from recent US field correction action.