Record Quarterly Revenue and EBITDA
The company achieved the highest quarterly revenue and adjusted EBITDA in its history, with a 13% increase in net sales to $99 million and an adjusted EBITDA of $24 million, representing 25% of net sales.
Strong Performance in Wound and Surgical Franchises
Both the Wound and Surgical franchises experienced double-digit growth, with the Surgical business growing by 15% and Wound sales increasing by 12% compared to the prior year.
Cash Flow and Balance Sheet Improvements
The company generated solid cash flow, ending the quarter with a cash balance of $119 million, an increase of $12 million, and expects to end the year with over $150 million in cash.
Increased Full Year Revenue Guidance
Due to strong performance and current momentum, the company increased its full-year revenue growth outlook from high single digits to low double digits.
Strategic Initiatives and Market Expansion
The company made progress with new product launches like EPIEXRESS and collaborations with Vaporox Inc., and plans to expand its offerings in the wound care and surgical markets.