OssDsign AB (publ) publishes Q1 2023 Interim Report
Sustainable and accelerating growth
OssDsign AB (publ) announces that the interim report for Q1 2023 is now available as a PDF on the company’s website www.ossdsign.com. A PDF version is also attached to this press release.
The Q1 2023 results will also be presented at an investor webcast today May 23rd at 11:00 CET. The webcast can be accessed via the following link https://www.finwire.tv/webcast/ossdsign/ossdsign-q1-presentation-2023/ or via the OssDsign website.
The first quarter in figures
• Net sales amounted to TSEK 21,466 (7,076), which corresponds to a growth of 203%.
• The U.S. business demonstrated 399% growth, increasing the U.S. share of global sales to 65%.
• Further acceleration of OssDsign Catalyst, which now represents 41% of total sales in the group.
• Underlying gross margin continued to develop favorably during the quarter, driven by positive product and geography mix.
• Operating profit showed a moderate improvement over previous year, despite strategic investments in clinical programs. Adjusted for the USD hedge revaluation effect, which affects comparability, the improvement came out at MSEK +1.7, or approximately 7% better.
• As operating expenses now start to stabilize, the sales and gross margin development will drive further operating leverage.
• Loss after taxes amounted to TSEK 23,252 (23,953).
• Earnings per share was SEK -0.3 (-0.4).
• Cash flow from current operations was TSEK -28,863 (-23,872), an MSEK -5.0 higher net outflow than in the previous year and a logical consequence of higher sales in the quarter, generating receivables, and higher payments of year-end accruals, with a combined net outflow of MSEK -5.9. In addition, the comparison is further negatively affected by MSEK -1.3 of accounting items relating to USD hedge revaluation.
Important events during the first quarter
• First-in-patient case report of OssDsign Catalyst shows complete spinal fusion 6 months post-surgery.
• OssDsign reaches milestone of 500 patients treated with OssDsign Catalyst in the U.S.
• OssDsign Catalyst 1cc is launched and available in the U.S. market.
• OssDsign reaches commercial milestone of 200 Cranial PSI sold in France
• OssDsign increases operational efficiency and reduces Cranial PSI lead time by up to 40 percent
Important events after the end of the first quarter
• OssDsign reaches commercial milestone of 750 Cranial PSI sold in Germany
• 1,000 patients treated with OssDsign Catalyst in the U.S.
For further information, please contact:
Morten Henneveld, CEO, OssDsign AB
Tel: +46 73 382 43 90, email: [email protected]
Certified Adviser:
Erik Penser Bank AB is the company’s Certified Adviser. Contact information: Erik Penser Bank AB, Box 7405, 103 91 Stockholm, Sweden, phone: +46 (0)8-463 80 00, email: [email protected].
About OssDsign
OssDsign is a developer and global provider of next generation bone replacement products. Based on cutting edge material science, the company develops and markets products that support the body’s own healing capabilities and thereby improve the clinical outcome in a wide range of orthopedic areas with high medical needs. With a product portfolio consisting of patient-specific implants for cranial surgeries and an off-the-shelf synthetic bone graft for spine surgeries, OssDsign give patients back the life they deserve. The company has a strong commercial presence in the U.S., Europe and selected Asian countries. OssDsign’s share is traded on Nasdaq First North Growth Market in Stockholm, Sweden.
This information is information that OssDsign AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above, at 08:00 CET on May 23, 2023.
