Q4 2025 Bonesupport Holding AB Earnings Call Transcript
Key Points
- Bonesupport Holding AB (BOEUF) reported a strong Q4 with net sales of 313 million SEK, reflecting a 22% growth compared to Q4 2024.
- Sales growth at constant exchange rates was 36%, indicating robust performance despite currency fluctuations.
- The company achieved an adjusted operating margin of 26%, showcasing efficient operational management.
- Cerma G sales in the US reached 207 million SEK, up from 154 million SEK in the same period the previous year, driven by new accounts and increased usage among existing users.
- The company successfully advanced its regulatory pipeline, with the FDA submission for Cerement V moving to the de novo process, positioning it for a stronger long-term market entry.
- The depreciation of the US dollar against the Swedish crown negatively impacted reported sales figures.
- Sales in Europe were affected by hospital reforms and surgical protocol programs in Germany, leading to slower growth in that region.
- The newly introduced tariffs in the United States are expected to gradually impact costs, with a full effect anticipated by late 2026.
- Selling and marketing expenses increased, partly due to higher sales commissions and fees, impacting overall profitability.
- The transition of Cerement V to the de novo process may delay its market entry, potentially affecting short-term sales growth.
(Operator Instructions)
Welcome to Bone Support year-end report 2025 presentation.
Now I will hand the conference over to CEO Thorbjorn Skold and CFO Hokan Johansen. Please go ahead.
Thank you operator and welcome everyone to Bone Supports Q'4 and full year 2025 results call. My name is Torbjörn Sköld . I'm the CEO of Bone Support and with me here today is our CFO Håkan Johansson and together we will use the next 25 minutes to guide you through the Q4 presentation and then open the line for questions.
But before we start the presentation, I would like to draw your attention to the disclaimers covering any forward-looking statements that we will make today.
So let's look at the financial and operational highlights from the quarter. Q4 was another strong quarter with a solid execution across the business. Net sales came in at 313 million sec, corresponding to a growth of 22% versus Q4 2024. Sales growth at constant exchange rates was 36%, showing that
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