OssDsign (OSSD) Q4 2024 earnings summary

Executive summary

• Achieved one-year milestone as a pure-play orthobiologics company, delivering sustained high growth, improved profitability, and scalability in 2024.

• Full-year net sales reached SEK 133.9 million, up 107% year-over-year, with all sales now from orthobiologics.

• Gross margin exceeded 90% target, reaching 95.4% for the year and 96.8% in Q4.

• Operating loss and net loss significantly reduced compared to 2023, with improved operating leverage and cash flow.

• Built a robust repository of clinical and preclinical evidence, with over 10 publications supporting product efficacy.

Financial highlights

• Q4 2024 sales grew 54% year-over-year; adjusting for a prior one-off order, underlying growth was 84%.

• Full-year 2024 revenue reached SEK 133.9 million, up 107% year-over-year (108% at constant currency).

• Q4 gross margin: 96.8% (vs. 72.5% Q4 2023); full-year gross margin: 95.4% (vs. 74.6% 2023).

• Q4 operating loss: SEK -12.3 million (vs. -49.6 million Q4 2023); full-year operating loss: SEK -49.4 million (vs. -127.6 million 2023).

• Q4 operating cash flow improved to SEK -7 million from SEK -26.5 million in Q4 2023; full-year operating cash flow was SEK -62 million, improved from SEK -95 million in 2023; underlying full-year operating cash flow was approximately SEK -50 million.

Outlook and guidance

• Focus remains on expanding U.S. market access and leveraging Catalyst technology for new products and adjacent segments.

• Over 90% of the spinal orthobiologics market remains untapped, representing significant future growth potential.

• Gross margin guidance remains above 93% going forward.

• Confident in mid- to long-term profitability and cash flow positivity based on current sales trajectory.

• First 100-patient results from the PROPEL spinal fusion registry expected in H1 2025.