Bioretec (BRETEC) Q4 2024 earnings summary

Executive summary

• Net sales grew 16.3% year-over-year to EUR 4.54 million, driven by Activa products and initial RemeOs Trauma Screw sales in the U.S. and Europe.

• CE mark for RemeOs Trauma Screw received in January 2025, enabling immediate European launch and expansion in CE-recognizing markets.

• EUR 6.0 million raised in an oversubscribed private placement to support commercialization and product development.

• Net loss widened to EUR -4.61 million, reflecting increased R&D and commercialization costs.

Financial highlights

• H2 2024 net sales up 23.2% to EUR 2.48 million; full-year net sales up 16.3% to EUR 4.54 million.

• Sales margin (excl. other income) improved to 70.9% of net sales for the year.

• EBITDA for 2024 was EUR -4.05 million (vs. -2.83 million in 2023); EBIT at EUR -4.20 million.

• Cash and cash equivalents at year-end EUR 6.29 million, down 9% from prior year.

• Earnings per share (undiluted) at EUR -0.20 (vs. -0.19 in 2023); no dividend proposed.

Outlook and guidance

• Financial targets updated: net sales of EUR 65 million by 2028 and over EUR 100 million by 2030.

• Targeting positive cash flow from operating activities by end of 2027; additional EUR 18 million in funding needed.

• Focus on scaling manufacturing, expanding U.S. and European distribution, and launching full RemeOs product line in Europe.