The S&P/ASX Small Ordinaries Index finished Friday at 3,392.70 points, gaining 23.50 points, or 0.70%, for the session.
Despite the positive finish, the index remained 48.80 points, or 1.42%, lower over the past five trading days.
Several ASX-listed small caps delivered operational updates to start the week, spanning regenerative medicine, tungsten exploration and rare earth development. You can read about the following and more throughout the day.
Orthocell delivers record quarterly and annual revenue
Orthocell Ltd (ASX:OCC, OTC:ORHHF) has reported record revenue of $3.8 million for the June quarter, driven by continued adoption of its Remplir™ nerve repair product in Australia and growing commercial traction in the United States and other international markets.
Quarterly revenue increased 20% from the March quarter and was 36% higher than the corresponding period in FY2025.
The result lifted Orthocell’s FY2026 revenue to a record $13.2 million, representing a 44% increase from the previous financial year.
Growth was supported by expanding global sales of Remplir™ and Striate+™, with the June quarter marking the company’s strongest quarterly revenue result to date.
Orthocell said quarterly revenue had grown at a compound rate of 10% across the past 10 quarters, continuing a three-year trajectory of consistent commercial expansion.
Lightning begins second phase of Warby tungsten exploration
Lightning Minerals Ltd (ASX:L1M, FRA:YZ1) has started a Phase 2 exploration program at its wholly owned Warby Tungsten Project in North Queensland.
The new campaign follows a successful reconnaissance program that confirmed high-grade tungsten mineralisation within what the company described as a favourable intrusive-related geological setting.
Phase 2 work will focus on defining the scale, orientation and continuity of the mineralised system.
The program will include detailed geological mapping, soil geochemistry and stream sediment concentrate sampling across priority structural targets identified during the initial field campaign.
Lightning is aiming to develop a clearer understanding of the project’s geology and refine targets for potential future drilling.
Dalaroo defines regional rare earth system at Blue Lagoon
Dalaroo Metals Ltd (ASX:DAL) has completed its largest field program to date at the 100%-owned Blue Lagoon Rare Earth Project in southern Greenland.
The 2026 campaign combined geological and structural mapping with regional reconnaissance, ground penetrating radar, bathymetric surveys, sediment sampling and extensive surface geochemistry.
Dalaroo said the integrated program had significantly improved its understanding of the geological controls on rare earth mineralisation and the evolution of the Blue Lagoon intrusive complex.
The work has also advanced the project from an early-stage exploration concept into what the company now considers a well-defined regional rare earth system.
Results from the campaign are expected to help Dalaroo prioritise exploration targets and shape the next phase of work at Blue Lagoon.