Orthocell Delivers 30% Boost In Record FY24 Revenue

Orthocell Ltd (ASX:OCC) has capped off FY24 with record quarterly and annual sales figures for its Striate+™ and Remplir™ products.

During the June quarter, the company delivered A$1.84 million in revenue, up 14.41% from the previous corresponding period (PCP) in FY23.

Consequently, this continued growth will see record FY24 revenue of A$6.72 million, up 30.40% PCP to A$5.15 million in FY23.

With A$20.6 million in its coffers, Orthocell is well funded for its global market expansion strategy and beyond.

Importantly, the pivotal US product registration for Remplir is expected in the March quarter of 2025.

“Market-leading” products

Orthocell currently has two products in the market – Striate+ for dental bone regeneration, and Remplir for peripheral nerve repair.

Importantly, the global market opportunity for these two products is estimated to be a whopping US$3 billion.

Looking head, Orthocell aims to secure a 20% market share for Striate+, which would generate approximately A$50 million in recurring revenue.

Similarly, the market share for Remplir would generate A$255 million in recurring revenue.

Forward plan

Orthocell recently reported the successful completion of all Nerve Repair Surgeries in the Remplir US Market Authorisation Study.

Subsequently, the top-line results from this study are expected in the December quarter.

What’s more, Orthocell remains on schedule to submit its US 510(K) market authorisation application in the December quarter and progress into sales soon thereafter.

“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,” said MC Paul Anderson

 

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