Bonesupport Holding AB (publ)

Welcome everyone to Bonesupport's Q3 2025 results call. My name is Torbjörn Skrold and since September 1st, I'm the CEO of Bonesupport. With me here today is our CFO, Håkan Johansson, and together the two of us will use the next 25 minutes to guide you through the Q2 report and then open the line for any questions. Before starting the presentation, I would like to draw your attention to the disclaimers covering any forward-looking statements that we will make today. Next slide, please. So let's look at the financial and operational highlights from the quarter. Q3 was another strong quarter with solid execution across the business. Net sales came in at 294 million, corresponding to a growth of 24% versus Q3 2024. Sales growth at constant exchange rate was 34%, showing that there's continued strong currency impact on our figures for the quarter. Our operating results excluding incentive program effects was 79 million, corresponding to an adjusted operating margin of 27%. Reported operating results was 65 million, and we saw strong cash generation with operating cash 379 million. One highlight in the quarter was the publication of the long-awaited Serahip study, which now kicks off our market penetration efforts in this market segment, revision orthoplasty. We will look deeper into this later in the presentation. We continue to see strong traction for SeraMed-G in the US, where both new accounts and increased use among current users contributed to the strong progress. CerementG sales in the U.S. reached 192 million for the quarter. Furthermore, the proposed NTAP for CerementG in open trauma has now been decided upon, as well as a 6% general increase in Cerement relevant DRG codes by CMS for orthopedics. So all in all, an eventful and a successful quarter. As I've transitioned into my new role and reflect on the business, I find our strategy sound and that the business develops very well. What really stands out is the solid evidence base supporting the CEREMENT platform and the significant long-term opportunity of CEREMENT globally in several clinical segments. This spring, we're planning to host a Capital Markets Day where we'll share a structured overview of our key initiatives and our path forward. We'll follow up with more details and the official dates later.

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