OssDsign AB (publ)

Hello and welcome to today's webcast presentation where we have Austin Sine who will be presenting the Q2 report for 2024. With us presenting today we have the CEO Morten Henneveld and CFO Anders Svensson. If you have any questions please feel free to use the form that is located to the right and we'll take that up after the presentation and with that said please go ahead with your presentation.

Thank you very much and welcome everyone my name is Morten Henneveld I'm the CEO of Austin Sine With me, I have our CFO, Anders Svensson. And today we want to walk you through our Q2 result and first half year results and highlights of the quarter. As always, when we do these presentations, the normal disclaimer. But first, I want to start off with the fact that the second quarter was not only a strong quarter for us. We also hit a major milestone as our 12-month rolling of the biologic sales exceeded 100 million SAC. And given that it's only two years ago that we recorded the first meaningful sales in the second quarter of 2022, we are of course extremely proud of this achievement. Similarly, during the quarter, we also hit another milestone, which was announced in May that we have now treated more than 5,000 patients with OsterSign Catalyst. And I think both of these milestones clearly show the speed with which we are building the new orthobiologics business. But it's also a strong testament to the differentiation and the innovation that we've brought to market with the OsterSign Catalyst technology platform. If we move on to the more specific highlights of the second quarter, it was also marked by a number of other exciting things. The strong underlying traction in sales accelerated again, and it now means that we have shown triple-digit growth in the US for nine consecutive quarters. Since the start of our prospective spinal fusion registry, Propel, which is approximately two years ago, we've received many questions on when data will be published. And we are therefore very pleased to publish the first two papers during the quarters, and we'll get back to them in more detail later on. As we already covered during our presentation in May in the second quarter, we also won not just one, but two major contracts one with the giant GPO called Premier and one with the VA. And last but not least, we again delivered on the cross-margin guidance, which Anders will tell you more about. And with that, I'll hand you over to Anders to walk you through the financial results for the second quarter and the first half year.

Thank you, Morten. Before we go into the numbers, and as we also mentioned in our first quarter presentation, I just want to clarify that Given that the company no longer operates in the cranial space, during 24, we will only compare to previous periods of orthobiologic sales. But when it comes to gross margin, this cannot be separated out for previous periods. We will therefore only compare to the previous blended margin rate. Now, if we turn to the results for the second quarter, we reported 29.7 million SEC in sales. On a relevant comparison basis, then we grew by 143% versus the same quarter last year and 139% growth on a constant currency basis. It also means that for the first six months, we have now shown 170% growth on a reported basis. And as Morten already mentioned in the beginning, we hit the 100 million sec sales mark on a rolling 12 month basis. in Q2. So what you see in this bar chart is the last 12 months or LTM sales in each bar. And we've seen this trend for many quarters now starting already in Q2 2022. And we see a good underlying acceleration again in the second quarter. So this is an excellent performance and we are really, really satisfied with it. Onto the gross margin then. In the second quarter, it continued to develop favorably compared to last year. It reached 93.2%, which is an 18.6 percentage point increase against a blended rating Q223. And for the first six months, we've now delivered a gross margin of 93.4% against 72.6 in the first half of 23. That's an increase of almost 21 percentage points. As we previously guided, we expected to operate with a gross margin at or above 90% as a pure clay orthobiologics company. So I'm very pleased to see that we're delivering on that. I do want to remind everyone that given the nature of the business we're in with manufacturing of biologics products, they undergo significant testing and so on. We will inevitably have some products that occasionally do not pass those tests. And combined with the fact that we're still in the early stage of commercialization with still relatively low volume, that means that the gross margin may be subject to some percentage points fluctuations between quarters going forward. But as you've seen for the first two quarters of 24, gross margin has been quite stable. Now I will hand you back to Morten to talk about the other significant developments. Thank you, Anders.