Slide 1: BONESUPPORT Q2 (2025) Report
BONESUPPORT Q2 (2025) Report July 15, 2025 Emil Billbäck, CEO Håkan Johansson, CFO
Slide 2: Disclaimer
DISCLAIMER This presentation, which includes all information and data on the following slides, any oral statements made when presenting these slides, and any other material distributed or statements made at, or in connection with, such presentation (the “Presentation”), relates to BONESUPPORT HOLDIN
Slide 3: BONESUPPORT – Second quarter report 2025
BONESUPPORT – Second quarter report 2025 Q2 2025 • Net sales SEK 284 m (SEK 220 m) Reported growth: +29% versus Q2 2024 Sales growth in constant exchange rates (CER): 40% • Operating result Adjusted Operating result (before effects of incentive programs): SEK 62 m (SEK 36 m) Reported Operating resul
Slide 4: Continued strong momentum for CERAMENT G in the US
Continued strong momentum for CERAMENT G in the US • Strong influence from USD/SEK depreciation • LTM growth of 47% in constant currency, versus 44% in the graph (reported) • US CERAMENT BVF (LTM) grew with 1,6% in Q2 2025 compared to Q2 2024 in constant currency • Antibiotic eluting CERAMENT grew w
Slide 5: North America: Increasing indication and customer diversity for CERAMENT G
North America Increasing indication and customer diversity for CERAMENT G Q2 2025 • Sales of SEK 236 m (SEK 173 m). Growth of 36% over Q2 2024 • Growth of 49% in constant exchange rate (CER) • Large swings in USD versus SEK • Uncertainty regarding tariffs Highlights in quarter • CERAMENT G sales of
Slide 6: Update on spinal procedure market segment entry NA
Update on spinal procedure market segment entry NA • CERAMENT BVF has regulatory approval for Posterolateral procedures (i.e. Posterolateral Fusion / PLF) as well as Interbody applications (i.e Interbody fusion/IBF) • In the last 18 months BONESUPPORT has conducted various pre-clinical application s
Slide 7: EUROW: Continued market share gains. German disruption.
EUROW Continued market share gains. German disruption. Q2 2025 • Sales of SEK 48.8 m, growth of 4% vs Q2 2024 • Growth of 7% in constant exchange rates (CER) • Hospital reforms and surgical protocol programs in Germany Highlights • Continuation of building clinical evidence foundation: – Peterlin/ G
Slide 8: Financial Report
BONESUPPORT Q2 (2025) Report Financial Report 8
Slide 9: Q2 2025 net sales SEK 284.4 m
Q2 2025 net sales SEK 284.4 m Q2 Revenue vs PY Increase Decrease Total 350,0 • NA: 36 percent reported growth. 49 percent growth in CER 84,5 3,4 300,0 284,4 • EUROW: 4 percent reported growth. -23,2 250,0 7 percent growth CER 219,8 Net Sales, MSEK 200,0 150,0 100,0 50,0 0,0 YTD 2024 Org growth NA Or
Slide 10: Strong Q2 reporting despite less working days
Strong Q2 reporting despite less working days US Revenue growth 2023-2025 in USD 30,0 Sales has doubled in the recent six quarters and more than tripled 25,0 2,5 24,2 over the recent nine quarters 2,3 20,0 1,0 19,4 2,1 In million USD 2,7 15,0 1,2 1,2 12,4 1,5 10,0 1,5 1,3 7,0 5,0 0,0 22 Q4 23 Q1 23
Slide 11: Gross Margin
North +36% (+49% CER) +4% (+7% CER) America Net sales Q2-25 EUROW Net sales Q2-25 North America 2025 2024 EUROW 2025 2024 SEK m Q2 Q1 Q4 Q3 Q2 SEK m Q2 Q1 Q4 Q3 Q2 Net Sales 235,6 231,2 209,4 192,0 173,0 Net Sales 48,8 52,3 47,6 45,5 46,8 Gross profit 223,1 219,7 199,5 181,9 165,7 Gross profit 40,3
Slide 12: Most movements due to currency effect and seasonality
Most movements due to currency effect and seasonality Key Figures 2025 2024 2023 SEK m Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Selling expenses 67,2 73,0 71,2 65,5 67,6 59,7 59,6 53,5 Sales Commissions and fees 79,4 79,3 70,4 65,5 62,2 48,2 44,4 42,7 Research and Development expenses 23,6 23,8 21,8 19,7 20,3 14,1 1
Slide 13: Strong business scalability
Strong business scalability Key Figures 2025 2024 2023 SEK m Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Net Sales 284,4 283,5 257,0 237,5 219,8 184,4 172,7 158,2 Gross Margin (%) 92,3 92,6 92,6 92,9 92,3 92,6 91,8 92,1 Operating profit 54,9 29,6 64,2 41,0 28,7 32,3 -7,7 14,9 Adj. Operating profit (i) 62,4 39,7 77,9 48
Slide 14: Adj Operating result in SEK million
A continued solid trend in Adj Operating result excluding exchange gains and losses on foreign assets and liabilities 80 12,00 • Adj Operating result excluding fx 70 11,50 reported on an all-time high in the Adj Operating result (i) in SEK million 60 quarter, at an EBIT margin of 26% 11,00 50 USD ra
Slide 15: BONESUPPORT Q2 (2025) Report
BONESUPPORT Q2 (2025) Report • 29% sales growth (40% in CER) • Strong performance for CERAMENT G USA • Solid underlying Operating Profit development • SEK 50 million operational cash flow, in the quarter Sales growth above 40% (in CER) for FY 2025 15