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Osteopore (ASX: $OSX) continues revenue growth, achieves 100,000 implants milestone

Osteopore's Q4 CY23 Quarterly Report


Osteopore Limited (ASX: $OSX) has released its Q4 CY23 Quarterly Report, showcasing a continued growth in revenue and the achievement of a significant milestone of 100,000 implants. The company reported a record FY revenue of A$2,217,409 ($$1,978,476) and implemented strategic cost reduction initiatives, including a 1/3 reduction in workforce and rationalization of R&D activities.

Executive Commentary on Q4 CY23 Performance


We are staying focused on revenues - while driving down costs - to lay the foundations for our company's future. We continue to explore a range of funding options to replenish working capital, strengthen our financial base, as well as seek strategic partnerships. The business has achieved a significant milestone of 100,000 implants. We thank all surgeons, patients and partners for the trust in our technology. We look forward to serving more patients around the world and create a wider impact for the healthcare ecosystem. - Mark Leong, Executive Chairman

Summary of Q4 CY23 Report and Outlook


Osteopore's Q4 CY23 report highlights a continued growth in revenue, culminating in a record FY revenue of A$2,217,409 ($$1,978,476). The company achieved a significant milestone of 100,000 implants, with approximately 80% achieved over the last 4 years. Additionally, Osteopore implemented strategic cost reduction initiatives, including a 1/3 reduction in workforce and rationalization of R&D activities. The company aims to focus on revenue growth, cost controls, and exploring funding options to strengthen its financial base. With a positive outlook, Osteopore is well-positioned for future growth and aims to continue serving patients globally while creating a wider impact in the healthcare ecosystem.

Sourcehttps://announcements.asx.com.au/asxpdf/20240131/pdf/05zx5qxrm57471.pdf

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