OssDsign AB (publ) publishes Q1 2024 interim report

We have successfully entered a new era as a pure play orthobiologics company

OssDsign AB (publ) announces that the interim report for Q1 2024 is now available as a PDF on the company’s website www.ossdsign.com/reports. A PDF version is also attached to this press release.

The Q1 2024 results will also be presented at an investor webcast today May 14th at 11:00 CET. The webcast can be accessed via the following link: https://www.finwire.tv/webcast/ossdsign/q1-2024/ or via the OssDsign website.  

The first quarter in figures

• Net sales amounted to TSEK 27,029 (21,466), now with all sales coming from orthobiologics in the U.S., which corresponds to a sales growth of 207% vs comparable numbers in Q1 2023.
• The U.S. business continued its strong underlying growth, quarter on quarter, and has now demonstrated eight consecutive quarters of triple-digit growth.
• Gross margin of 93.7% vs a blended margin of 70.4% in the same quarter in the previous year.
• Operating loss of TSEK 12,034 (23,696). Sales variable costs increased whereas non-sales variable costs decreased compared to the previous year. Total operating expenses decreased vs the previous year. Continued trend of improved operating leverage in the business, albeit somewhat exaggerated in Q1, as a result of positive gross margin development and lower start of year operating expenses, as the company is transitioning more functions to the U.S.
• Loss after taxes amounted to TSEK 11,148 (23,252).
• Earnings per share were SEK -0.1 (-0.3).
• Cash flow from current operations was TSEK -28,203 (-26,701), showing solid underlying improvement but, as previously stated, was expected to be adversely impacted by the outflow from high 2023 year-end bonus and non-recurring accruals.

Important events during the first quarter

• OssDsign reports compelling data from the clinical study TOP FUSION.
• 12-month data from the clinical study of OssDsign Catalyst published in Biomedical Journal of Scientific & Technical Research.
• OssDsign appoints Tom Buckland as Chief Technical Officer.

Important events after the end of the first quarter

• OssDsign awarded long-term agreement with Premier, Inc.
• OssDsign expands military access with new contract covering 100 additional VA orthopedic hospitals. 

This disclosure contains information that OssDsign AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 14-05-2024 07:00 CET.