Orthocell's September Quarter Revenue Rises Sequentially to Record High
MT Newswires Live
Oct 02
Orthocell (ASX:OCC) reported a record quarterly revenue of AU$3 million for the September quarter, up 9.1% quarter over quarter, according to a Thursday Australian bourse filing.
The result represented the sixth consecutive quarter of record revenue, and it was primarily driven by increased market penetration in existing markets, particularly Australia and Singapore.
Growth in the sales of the firm's Remplir nerve repair product is expected to be further supplemented by market entry in Canada, the filing said. The expected adoption of Remplir by surgeons in the US represents a potential for an increase in revenue growth.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.