Ortoma (ORT) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 was SEK 2.4 million, down from SEK 9.9 million in Q3 2024, due to absence of milestone payments; YTD revenue rose to SEK 59.9 million from SEK 31.9 million year-over-year.

• Q3 2025 net result after financial items was SEK -14.6 million (Q3 2024: SEK -0.9 million); YTD net result improved to SEK 3.0 million (YTD 2024: SEK -1.1 million).

• EBITDA for Q3 2025 was SEK -11.3 million (Q3 2024: SEK 1.9 million); YTD EBITDA increased to SEK 12.7 million (YTD 2024: SEK 7.4 million).

• Solid equity ratio of 91.6% at period end.

• Regulatory registration for OTS Hip Plan obtained in Australia; new orders from Japan totaling SEK 10.2 million to be delivered in Q4 2025 and H1 2026.

Financial highlights

• Q3 2025 revenue: SEK 2,425,190 (Q3 2024: SEK 9,910,267); YTD 2025: SEK 59,934,632 (YTD 2024: SEK 31,861,141).

• Q3 2025 net result after financial items: SEK -14,562,813 (Q3 2024: SEK -931,539); YTD 2025: SEK 2,991,390 (YTD 2024: SEK -1,113,080).

• Q3 2025 EBITDA: SEK -11,333,441 (Q3 2024: SEK 1,873,461); YTD 2025: SEK 12,712,615 (YTD 2024: SEK 7,418,433).

• Cash flow for Q3 2025: SEK -11,572,350 (Q3 2024: SEK 11,768,666); cash position at period end: SEK 38,266,321 (Q3 2024: SEK 33,230,874).

• Equity per share at period end: SEK 4.45 (Q3 2024: SEK 4.65).

Outlook and guidance

• Revenue expected to fluctuate between quarters until full launch of OTS Hip.

• Long-term goal to build recurring revenue streams as product launches progress and user base grows.

• Launch in main markets (USA, EU) expected in 2026, pending partner decisions.