Orthocell has announced that it has recorded impressive sales growth across its product portfolio, with total revenue for FY24 of $6.72million – up 30.40% from the previous financial year, FY23.
The Company has recorded impressive sales growth across its product portfolio, with total revenue for FY24 of $6.72million – up 30.40% from the previous financial year, FY23.
Highlights from this period include:
- Record revenue of $1.84m achieved for the June 24 Quarter, up 14.41% from $1.61 million in Q3 FY24 and up 9% from $1.68 million for the same period last year, Q4 FY23.
- The Company has now recorded FY24 revenue of $6.72 million, up 30.40% from the previous FY23 year of $5.15 million.
- With Striate+™ currently sold in the US, Europe/UK, Australia and New Zealand, and Remplir™ currently sold in Australia and New Zealand, the Company is accelerating approvals to expand into new markets and geographical regions to complement existing marketing growth.
- Strong balance sheet of $20.6 million in cash to support the Company’s growth strategy.
Orthocell Managing Director, Paul Anderson, said:
“Orthocell has completed a record quarter and a record year of revenue, which is an outstanding effort. These results show the Company is on track to being a key global player. I am very pleased with the performance of our distribution partners and the continued increase in product adoption. With a highly respected and experienced Board in place, and with market-leading products, our Company is in a strong position to continue to gain commercial traction and drive Remplir, our breakthrough nerve repair device, into global markets.”