Orthocell Limited (ASX:OCC) Announces Record Revenue and Market Expansion
Record Revenue Achieved
Orthocell Limited (ASX: OCC) announced a record revenue of $2.21 million for the quarter ended 31 December 2024. This figure marks a 9% increase from the previous record of $2.03 million reached in September 2024, and a notable 46% increase from the same period last year.
The company has experienced average revenue growth of 9% compounded over the past nine quarters. This consistent growth is primarily attributed to the successful launches of Striate+™ in the USA and Remplir™ in Australia.
Market Expansion
Orthocell also reported the first major international approval for Remplir™ by the Health Sciences Authority in Singapore. The company successfully appointed Device Technologies Asia as the exclusive distributor, marking an important step for entering the substantial ASEAN markets. Initial sales of Remplir in Singapore were achieved ahead of its planned market launch in the first quarter of 2025.
In brief, the company submitted its US FDA 510(k) application to commercialise Remplir in the United States and anticipates clearance by late March or early April 2025.
CEO Insights
“You will find that this quarter has been outstanding for Orthocell, with significant progress in revenue growth and international market expansion,” said Paul Anderson, CEO and Managing Director. He expressed excitement over potential exponential revenue growth from the US market.
Funding for Growth
Orthocell completed a $17 million placement at $0.60 per share, aimed at funding the US launch of Remplir and supporting further growth. The company ended the quarter with approximately $31 million in cash and is well-positioned for future expansion efforts.
Orthocell continues to strengthen its portfolio with advanced collagen medical devices and cell therapies.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Orthocell. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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