OssDsign: Analyst - ABG

79% FX-adj. sales growth in Q2, mainly driven by Catalyst
Opex stabilising
Fine-tune fair value range to SEK 6-15


Catalyst overtakes Cranial PSI as largest product

OssDsign delivered total sales of SEK 24m in Q2, up 92% y-o-y, corresponding to 79% FX-adjusted growth. With Q3 sales of SEK 12.3m, Catalyst has already outgrown Cranial PSI and is now 51% of total sales in Q2 after just 18 months since the launch in 2021. As Catalyst is only approved in the US, the US market has become the largest region for OssDsign, accounting 72% of total sales in Q2. We expect to see continued strong sales development for Catalyst over the coming years, with this segment outgrowing Cranial PSI and thus gradually transforming OssDsign into a bone graft orthobiologics company with a focus on spine surgery.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/ossdsign/Equity-research/2023/9/ossdsign---analyst/