Q2 2024 Bonesupport Holding AB Earnings Call Transcript
Key Points
- Quarter two sales reached SEK220 million, marking a 57% year-over-year growth.
- CERAMENT G sales in the US surpassed SEK100 million, indicating strong market penetration.
- Operating results hit a record high with SEK36 million before incentive provisions.
- US regulatory approval for CERAMENT BVF in interbody fusion was received, with a planned launch in Q4 2025.
- Strong data from Australia showed a significant reduction in amputation rates with CERAMENT.
- Elevated R&D costs impacted the quarter's financials.
- Sales and marketing expenses increased significantly, from SEK66.5 million to SEK99 million year-over-year.
- A SEK1 million bad debt provision was made due to the bankruptcy of Steward Healthcare System in the US.
- Temporary higher receivables contributed to a negative cash flow for the period.
- Challenges in Europe included staff shortages and disruptions like the NHS hacker attack.
Good morning. Thank you, operator, and welcome to everyone to the Bonesupport quarter two 2024 results call. I am Emil Billbäck, the CEO of Bonesupport and making this broadcast, as always, together with Håkan Johansson, our CFO. We will use the next 25 minutes to guide you through the presentation of the second quarter results and then we will open up the line for a question-and-answer session. Before starting the presentation, I would like to draw your attention to the disclaimers that covers any of forward-looking statements that we might make today.
Let's go to slide 3. I would like to begin the entire presentation by covering some condensed highlights from the report that will be released this morning. Overall, quarter two sales were SEK220 million which corresponds to a reported growth of 57% year-over-year and in constant exchange rate, the growth rate of 55%.
The sales increase was positively influenced by accelerated market penetration of CERAMENT G in the US. During the quarter, CERAMENT G in the US reached a
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