Strong Revenue Growth
Achieved 12% growth for the quarter and 36% growth year-to-date. Expected to achieve full year revenue guidance of $116 million to $120 million, representing a total annual revenue growth of approximately 27% to 31% compared to 2023.
Successful Product Launches
Overcame challenges to launch OsteoVive Plus and Cortera products, which are well received by distributors and surgeons, bolstering confidence in strong fiscal year-end performance.
Licensing Agreement with Advanced Wound Care Market
Signed a licensing agreement resulting in a $1.5 million upfront payment and expected minimum revenue of $3.75 million in 2025.
Operational Efficiency and Cost Management
Operating expenses were lower compared to the three preceding quarters, demonstrating improved cost management and efficiency.
In-house Manufacturing Strategy
Focused on bringing manufacturing in-house to control supply chain and improve gross margins from mid-40s to 60% to the mid-80% to low 90% range.