Orthocell Continues Impressive Growth with Record Quarterly and Yearly Revenue Achieved

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.” Click here to read the ASX release.