OssDsign AB (publ) publishes Q3 2024 Interim Report and raises guidance on gross margin
OssDsign AB (publ) announces that the interim report for Q3 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 Q3 2024 results will also be presented at an investor webcast today November 12th at 11:00 CET. The webcast can be accessed via the following link: https://www.finwire.tv/webcast/ossdsign/q3-2024-2/or via the OssDsign website.
The third quarter in figures
- Net sales amounted to TSEK 35,728 (31,697). As all sales now derive from orthobiologics, which in the corresponding period amounted to TSEK 16,724, the relevant comparison translates to a growth of 114%, or 121% with constant exchange rates, compared to the relevant Q3 numbers 2023.
- Gross margin of 96,9% compared to a blended margin of 79.6% in the same quarter in the previous year and compared to 93.2% in the previous quarter of 2024. Going forward, we raise guidance on gross margin to above 93% (from previous at or above 90%), albeit the exact number will inevitably be subject to quarterly fluctuations.
- Operating loss of TSEK 9,836 (17,911). Sales variable costs increased whereas non-sales variable costs decreased, both compared to the previous year and to the previous quarter.
- Loss after taxes amounted to TSEK 9,760 (33,125).
- Earnings per share improved to SEK -0.1 (-0.5).
- Cash flow from operating activities was TSEK -8,694 (-18,579), considerably better than both previous year and previous quarters in 2024.
The first nine months in figures
- Net sales amounted to TSEK 92,494 (77,160). As all sales now derive from orthobiologics, which in the corresponding period in 2023 amounted to TSEK 37,784, the relevant comparison translates into a sales growth of 145% compared to the first nine months in 2023.
- Gross margin of 94.7% compared to a blended margin of 75.5% in the same period in the previous year.
- Operating loss of TSEK 37,165 (62,855). Sales variable costs increased whereas non-sales variable costs decreased compared to the previous year.
- Loss after taxes amounted to TSEK 36,597 (76,652).
- Earnings per share improved to SEK -0.4 (-1.1).
- Cash flow from operating activities was TSEK -55,346 (-68,353), showing solid underlying improvement, ie when excluding cash payments for non-recurring costs related to the closure of the cranial business.
Important events during the third quarter
- There were no important events to report during the third quarter.
Important events after the end of the third quarter
- OssDsign appointed Stephen Anderson as Vice President of Marketing
For further information, please contact:
Morten Henneveld, CEO, OssDsign AB
Tel: +46 73 382 43 90, email: [email protected]
Certified Adviser
The Company’s Certified Adviser is Carnegie Investment Bank AB (publ)
About OssDsign
OssDsign is a developer and global provider of next generation orthobiologics products. Based on cutting edge material science, the company develops and markets products that support the body's own healing capabilities, giving patients back the life they deserve. The company has a strong presence in the U.S. market. OssDsign's share is traded on Nasdaq First North Growth Market in Stockholm, Sweden.
This disclosure contains 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 07:00 CET on November 12, 2024.
