Orthocell has announced record quarterly revenue of $3.0 million for the September quarter – our sixth consecutive quarter of record revenue growth.
This outstanding 9.1% increase reflects the strong market uptake of Remplir™ in Australia and Singapore, with the US rollout now gaining momentum and Canada coming online in the December quarter.
Key Highlights
- Record quarterly revenue of $3.0m (up 9.1% from June quarter)
- Sixth consecutive quarter of record revenue
- CQGR of 9.5% since Q2 FY23 launch
- ~$27.0m cash and no debt
- US rollout accelerating with >100 surgeons introduced & 11 hospital approvals secured
- First Canadian distributor appointed – initial sales targeted for December quarter
Orthocell CEO & MD, Paul Anderson, said:
“The record revenue result for the September quarter is a particularly pleasing result, given it has largely been achieved from our existing markets in Australia and Singapore. It’s a tangible confirmation that surgeons are growing increasingly comfortable using Remplir in nerve repair procedures.”