BioStem Technologies ( (BSEM) ) has released its Q4 earnings. Here is a breakdown of the information BioStem Technologies presented to its investors.
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BioStem Technologies, Inc. is a MedTech company specializing in the development, manufacture, and commercialization of placental-derived biologics for regenerative therapies. The company is known for its innovative BioRetain® processing method and a portfolio of quality brands including AmnioWrap2® and VENDAJE®.
In its latest earnings report, BioStem Technologies announced record preliminary net revenue of $102.9 million for the fourth quarter of 2024, contributing to a total of $301.8 million for the full year. This marks the fourth consecutive quarter of profitability for the company, highlighting the strong demand for its products and the success of its strategic initiatives.
Key financial metrics include a gross profit of $99.3 million for Q4 2024, representing 97% of net revenue, and a GAAP net income of $15.5 million or $0.94 per share. The company’s full-year revenue saw a significant increase of 1,709% compared to the previous year, driven by the nationwide launch of Vendaje AC® and the ongoing demand for AmnioWrap2®. BioStem also reported a substantial increase in operating expenses due to scaling operations and increased share-based compensation.
Looking ahead, BioStem Technologies remains focused on expanding its market presence and demonstrating the clinical effectiveness of its BioRetain® technology. The company has initiated several clinical trials to evaluate its products’ efficacy in treating diabetic foot ulcers and venous leg ulcers, aiming to support further market expansion and validate its innovative solutions.