Slide 1: Q3 2025 Financial Results
Q3 2025 Financial Results October 29, 2025 1
Slide 2: Disclaimer: Forward-looking Statements
Disclaimer 2 Forward-looking Statements This presentation contains “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations or predictions of future conditions, events, or results based on various
Slide 3: Q3 2025 Business Highlights
3 Michael Dale President and Chief Executive Officer Q3 2025 Business Highlights
Slide 4: Agenda
Agenda 4 Q3 2025 Financials and Guidance Lindsey Hartley, Chief Financial Officer Q&A Michael Dale, Lindsey Hartley, Jens Kemp, Chief Marketing Officer Rick Ditto, VP Global Health Economic, Reimbursement & Policy Q3 2025 Business Highlights Michael Dale, President and Chief Executive Officer
Slide 5: Q3 2025 Recent Business Highlights
5 Growth • Q3 revenue increased to $60.1M, growing 23.5% YoY • Q3 reflected broad-based growth across the entire portfolio • Double-digit growth performance in all markets High Potential Accounts • YTD, HiPo accounts yielded approx. 64% of YoY revenue growth (vs 2025 66% goal) • YTD, HiPo accounts h
Slide 6: Q3 2025 Key Metrics Update
6 Clinical Research • Level 1 study protocol for implant based neurotization • Avance® vs. Autograft evidence plan in mixed & motor nerves. • OMF/H&N clinical evidence plan Innovation • Therapeutic reconstruction • Ease of coaptation • Protection expansion Prostate Clinical & Market Development • AA
Slide 7: Biologics License Application For Avance Nerve Graft
Biologics License Application For Avance® Nerve Graft Anticipate FDA approval for Avance® Nerve Graft as a Biologic in the US on December 5, 2025. 7 Q3 2025 Update
Slide 8: Q3 2025 Financials and Guidance Discussion
8 Lindsey Hartley Chief Financial Officer Q3 2025 Financials and Guidance Discussion
Slide 9: Q3 2025 Financial Performance
Q3 2025 Financial Performance 9 Q3 Revenue ($ in millions) $48.6 $60.1 2024 2025 Revenue $30.0 $35.0 $40.0 $45.0 $50.0 $55.0 $60.0 $65.0 $70.0 Q3 Gross Margin % 74.9% 76.6% 2024 2025 Gross Margin % 73.0% 73.5% 74.0% 74.5% 75.0% 75.5% 76.0% 76.5% 77.0% +1.7% +23.5%
Slide 10: Q3 2025 Financial Performance: Operating Leverage
Q3 2025 Financial Performance Gaining operating leverage with topline growth ($ in millions) 10 Q3 2025 Q3 2024 YoY Change % Change as a % of Revenue Sales and marketing expenses $25.7 $18.9 35.7% 3.8% Research and development expenses 7.6 7.0 8.1% (1.8)% General and administrative expenses 10.8 10.
Slide 11: Q3 2025 Financial Performance
Q3 2025 Financial Performance ($ in millions, except per share data) 11 * Excludes stock-based compensation. See non-GAAP reconciliations included in Appendix. Q3 2025 Q3 2024 Net income (loss) $0.7 $(1.9) Diluted EPS $0.01 $(0.04) Adjusted net income* $6.1 $3.1 Adjusted Diluted EPS* $0.12 $0.07 Adj
Slide 12: Q3 2025 Financial Performance: Operating Cash Flow
Q3 2025 Financial Performance Operating cash flow ($ in millions) 12 * Cash, cash equivalents, restricted cash, and investments. September 30, 2025 June 30, 2025 Change Operational cash* $39.8 $35.9 +$3.9
Slide 13: Raising Guidance for the Full-Year 2025
Raising Guidance for the Full-Year 2025 Revenue growth of at least 19%, or $222.8 million Gross margin of 73% - 75% Net cash flow positive* 13 * Net change in cash, cash equivalents, restricted cash, and investments.
Slide 14: Q&A
Michael Dale President and Chief Executive Officer Jens Kemp Chief Marketing Officer Rick Ditto VP, Global Health Economics, Reimbursement & Policy 14 Lindsey Hartley Chief Financial Officer Q&A
Slide 15: Thank you
Thank you
Slide 16: Appendix
Appendix 16
Slide 17: Non-GAAP Reconciliations: Three Months Ended
17 Non-GAAP Reconciliations: Three Months Ended (in thousands, except share and per share amounts) September 30, 2025 September 30, 2024 Net income (loss) $ 708 $ (1,858) Depreciation and amortization expense 1,730 1,719 Investment income (319) (296) Income tax (benefit) expense (62) 26 Interest exp
Slide 18: Slide 18