Orthocell Ltd (ASX:OCC, OTC:ORHHF) earlier this week reported record quarterly and full-year revenue as accelerating adoption of its Remplir™ nerve repair device strengthened the company’s commercial growth outlook.
Revenue reached A$3.8 million in the June quarter, up 20% from the March period and 36% from the corresponding quarter last year. FY2026 revenue increased 44% to a record A$13.2 million, supported by product sales in Australia and a growing number of international markets.
CEO and managing director Paul Anderson said revenue growth had been driven by product sales across Australia, Thailand, Hong Kong, Singapore, Canada and the United States. He stressed that Orthocell had not yet received the full financial benefit of its US rollout, describing the result as “great numbers with a whole heap of upside”.
The United States is emerging as a central potential catalyst for Orthocell. Anderson said the company had established an eight-person team covering sales, marketing, medical education and science. That infrastructure was supporting distributors and helping expand surgeon and hospital engagement.
He said distributors were also beginning to approach Orthocell after learning about the product, its differentiation and its pricing. Anderson regarded this inbound interest as evidence that the company’s US commercial platform was taking shape.
Access to the US Department of Defense and Veterans Affairs networks could provide another catalyst. Anderson said participation in those networks was important for reaching the full addressable market. He recently met orthopaedic surgeons based at the naval facility in San Diego and highlighted the number of experienced surgeons performing nerve repair procedures within the system.
Potential approval in the United Kingdom and European Union represents a further growth opportunity. Anderson said Orthocell had appointed a distributor with biological expertise and engaged with market leaders so the company could begin commercial activity promptly following approval.
Orthocell’s A$44 million cash balance gives the company capacity to fund its US rollout, global expansion and manufacturing investment while progressing towards cash flow break-even.
Looking ahead, Anderson said increasing surgeon and hospital participation was creating the foundation for a “hockey-stick type scenario”. He added that Orthocell expected a material increase in revenue over the coming quarters as the company continued to engage, educate and convert medical professionals.
Interview highlights
- Orthocell generated record June-quarter revenue of A$3.8 million.
- FY2026 revenue rose 44% to a record A$13.2 million.
- Growth was supported by sales in Australia and international markets.
- Orthocell has product approvals across markets including Thailand, Hong Kong, Singapore, Canada and the United States.
- Paul Anderson said the full revenue contribution from the US rollout had not yet been realised.
- The company has built an eight-person US team across sales, marketing, medical education and science.
- Distributor interest is increasing as awareness of Remplir grows.
- Department of Defense and Veterans Affairs access could broaden Orthocell’s reach in the US nerve repair market.
- Orthocell is preparing for potential UK and European commercial activity following approval.
- The company has A$44 million in cash to fund commercial expansion and manufacturing investment.
- Management expects a material increase in revenue as surgeon and hospital adoption expands.
Proactive: Orthocell has posted record full-year revenue while strengthening its commercial growth outlook. Here to discuss the numbers and the outlook is CEO and managing director Paul Anderson. Paul, good to see you again.
Paul Anderson: Thanks for having me, Jonathan.
Proactive: Let’s talk about the numbers. Orthocell reported record quarterly revenue of A$3.8 million and full-year growth of 44%. What were the main drivers?
Paul Anderson: The main drivers were our product revenues in Australia and internationally. We have recently had products approved in Thailand, Hong Kong, Singapore, Canada, the United States and Australia.
These positive numbers are coming from product growth. Most importantly, we are yet to see the real increase in product revenue from the United States, so these are strong numbers with significant upside still ahead.
Proactive: The US rollout is tracking ahead of expectations. What is driving the increase in hospital access, surgeon adoption and distributor coverage?
Paul Anderson: We have put a talented team in place with substantial domain knowledge. We now have eight direct employees working across sales, marketing, medical education and science.
That infrastructure is supporting our distributors. We are also now being approached by distributors that have heard about the product, understand its uniqueness and recognise its attractive pricing. The fact that distributors are approaching us is a sign that our internal US infrastructure is in good order.
Proactive: How significant is approval across the US Department of Defense and Veterans Affairs networks?
Paul Anderson: It is an important part of the US market. Without involvement in those cases and potential product uses, a company is probably not accessing the full market.
I have just returned from three weeks in the United States, where I met six orthopaedic surgeons at the naval base in San Diego. It is a very important market for us, with many talented surgeons carrying out nerve repair procedures.
Proactive: There is also a lot happening around UK and European approval and the prostate surgery opportunity.
Paul Anderson: There certainly is. As part of our global footprint, we recognise that the European Union and United Kingdom are very important markets.
We have worked hard to appoint a distributor with significant biological experience and expertise in that market. We have also engaged with market leaders, so we have done a considerable amount of work to ensure that we are ready to begin as soon as approval is received in the second half or later part of the year.
Proactive: Orthocell also has A$44 million in the bank. How will the company use those funds to balance commercial expansion, manufacturing investment and the pathway towards cash flow break-even?
Paul Anderson: Having that amount of capital is very important, particularly given the difficult geopolitical environment.
Orthocell is well funded. Revenue of A$13.2 million for the year and A$44 million in the bank enable the company to execute strongly on its US commercial plan and its wider global strategy.
The company is in a strong position. Shareholders should see significant upside as the US market starts to take hold and the Australian market continues to perform strongly and provide a large portion of revenue. The future is bright for Orthocell.
Proactive: Finally, what can investors expect over the next quarter?
Paul Anderson: Over the coming quarters, we expect to see a material increase in revenue. An increasing number of surgeons and hospitals are coming on board, providing the foundation for a hockey-stick growth scenario.
The US is a large market, and surgeons there are no different from those elsewhere. Orthocell must engage, educate and convert them, and the company is doing that well.
There are many more surgeons and hospitals ahead of us, so a material increase in revenue is what we are targeting.
Proactive: Paul, good luck with that. Thanks for your time today, and we will speak again shortly.
Paul Anderson: My pleasure, Jonathan. Thanks for having me.