Key points
- Revenue up 27% to $2.81 million
- Loss after tax down 33% to $3.24 million
- Streamlined approach to cost management, with sales and marketing expenses down 33%
Full summary
Osteopore Limited (Osteopore or the Company) reported a 27% increase in revenue to $2,811,443 for the year ended 31 December 2024, compared to $2,217,409 in the previous year. The Company's net loss after tax was $3,244,684, a 33% decrease from the previous year's loss of $4,871,981. Osteopore's improved cost structure, with a 33% reduction in sales, marketing, and business development expenses, contributed to the improved financial performance. The Company also maintained an appropriate allocation of resources to innovation to continue growing its value and position in the regenerative medicine marketplace. Osteopore was able to report continued revenue growth throughout most of 2024 due to the appropriate allocation of resources and increased revenue capture efficiency.