Bioretec (BRETEC) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 reached EUR 1.4 million, up 105% year-over-year, driven by strong sales to China and new U.S. distribution agreements.

• RemeOs trauma screw family received comprehensive CE approval in January, enabling immediate commercialization in Europe and CE-recognizing markets.

• U.S. expansion accelerated with eight new distribution agreements, now covering 14 states and over 80 representatives.

• Record production output achieved, with manufacturing capacity being scaled up to meet growing demand.

Financial highlights

• Net sales: EUR 1,396 thousand (Q1 2024: EUR 682 thousand), a 104.7% increase year-over-year.

• Sales margin (excl. other income): EUR 822 thousand, 58.9% of net sales, slightly lower due to pricing pressure in China.

• EBITDA: EUR -1,236 thousand (Q1 2024: EUR -1,112 thousand), impacted by higher personnel and commercialization costs.

• Net loss: EUR -1,298 thousand (Q1 2024: EUR -1,097 thousand).

• Cash and cash equivalents at period end: EUR 4,424 thousand, down 26% from Q1 2024.

Outlook and guidance

• Manufacturing capacity to be further increased in coming months to support commercialization and product development.

• Plans to launch a new funding round by Q3 2025 to support growth and clinical validation.

• First RemeOs screws to be shipped and surgeries performed in Europe; further U.S. commercialization and product range expansion ongoing.