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BONESUPPORT HOLDING AB (SE:BONEX)
:BONEX

BONESUPPORT HOLDING AB (BONEX) AI Stock Analysis

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BONESUPPORT HOLDING AB

(OTC:BONEX)

Rating:62Neutral
Price Target:
kr271.00
▲(1.19%Upside)
BONESUPPORT HOLDING AB exhibits strong financial performance, which is a major positive factor. However, technical indicators show bearish momentum, and the valuation appears high, limiting its immediate attractiveness. The absence of earnings call and corporate events data further concentrates the focus on current market conditions and financial health.

BONESUPPORT HOLDING AB (BONEX) vs. iShares MSCI Sweden ETF (EWD)

BONESUPPORT HOLDING AB Business Overview & Revenue Model

Company DescriptionBONESUPPORT HOLDING AB (BONEX) is a Swedish medical technology company specializing in the development and commercialization of innovative injectable bioceramic bone graft substitutes. These products are primarily used in orthopedic surgeries to promote bone healing and regeneration. The company's proprietary technologies are designed to address conditions such as fractures, chronic osteomyelitis, and other bone-related issues, providing solutions that enhance patient outcomes and offer advantages over traditional bone grafting techniques.
How the Company Makes MoneyBONESUPPORT HOLDING AB generates revenue primarily through the sale of its proprietary bioceramic bone graft substitutes to hospitals, surgical centers, and healthcare providers globally. Key revenue streams include direct sales of their products, as well as distribution agreements and partnerships with medical device companies that enable broader market reach. The company may also engage in research and development collaborations, which can contribute to its earnings through milestone payments or royalties. Additionally, BONESUPPORT may benefit from reimbursement agreements with health insurance providers, enhancing the accessibility and adoption of its products in various healthcare systems.

BONESUPPORT HOLDING AB Earnings Call Summary

Earnings Call Date:Apr 24, 2025
(Q3-2024)
|
% Change Since: -15.63%|
Next Earnings Date:Jul 15, 2025
Earnings Call Sentiment Positive
Bonesupport's Q3 2024 earnings call highlighted robust sales growth, particularly for CERAMENT G in the U.S., and successful clinical outcomes from the SOLARIO study. While there were some challenges in Europe and currency impacts, the overall sentiment is largely positive due to strong market performance and promising future prospects.
Q3-2024 Updates
Positive Updates
Record-Breaking Revenue and Growth
Q3 sales reached SEK 238 million, showing a reported growth of over 50% year-over-year and 54% in constant exchange rates.
Strong Operating Results
Operating results before incentive provisions were SEK 48 million, with a reported EBIT of SEK 41 million.
Significant Cash Flow Improvement
A strong organic cash boost of SEK 39 million increased cash to SEK 153 million.
CERAMENT G U.S. Market Performance
Sales of CERAMENT G in the U.S. reached SEK 134 million, showing a 114% growth year-over-year.
SOLARIO Study Success
The SOLARIO study met its primary endpoint, showing potential to reduce systemic antibiotic treatment duration significantly.
Negative Updates
Challenges in Europe and Rest of the World
Sales grew by 22% year-over-year, but a higher than expected negative seasonality impact and healthcare staffing disruptions resulted in fewer surgeries.
Currency Effects
Despite strong sales performance, unfavorable currency effects were noted in the period, impacting financial results.
Company Guidance
During the BONEX.ST Q3 2024 earnings call, CEO Emil Billbäck and CFO Håkan Johansson provided guidance highlighting a robust quarterly performance with key metrics indicating strong growth. Sales for Q3 reached SEK 238 million, marking over a 50% year-over-year increase, with constant currency growth at 54%. The quarter saw a record operating result of SEK 48 million before incentive provisions, and a reported EBIT of SEK 41 million. Additionally, the company experienced an organic cash increase of SEK 39 million, bringing the total to SEK 153 million. Notable achievements included significant market penetration of CERAMENT G in the U.S., with sales of SEK 134 million and a year-over-year growth of 114%, now representing 50% of total quarterly sales. Sales in North America grew by 59% reported and 63% at constant exchange rates, while Europe and the rest of the world reported a 22% sales increase. The SOLARIO study was emphasized as a pivotal milestone, showcasing the potential to reduce systemic antibiotic treatment significantly, which could alter treatment protocols. The company continues to prepare for its entry into the Spinal Fusion market and anticipates further growth opportunities.

BONESUPPORT HOLDING AB Financial Statement Overview

Summary
BONESUPPORT HOLDING AB demonstrates strong financial health with robust revenue growth, high profit margins, and a stable balance sheet characterized by low leverage. The company shows effective cash flow management, although reliance on internal cash generation is increasing due to reduced external funding.
Income Statement
85
Very Positive
BONESUPPORT HOLDING AB demonstrates strong revenue growth, with a TTM (Trailing-Twelve-Months) revenue increase of 11% compared to the previous annual report. The company maintains impressive gross and net profit margins at 92.6% and 12.3%, respectively, showcasing efficient operations. However, a slight dip in EBIT margin from the previous year indicates room for improvement in operational efficiency. Overall, the income statement reflects a positive growth trajectory and profitability.
Balance Sheet
82
Very Positive
The company has a robust balance sheet with a low debt-to-equity ratio of 0.017, indicating minimal leverage risks. The equity ratio is strong at 82.7%, suggesting a high proportion of assets financed by equity. While the return on equity is modest at 16.5%, the company's low debt levels and high equity ratio provide financial stability and reduced risk exposure.
Cash Flow
78
Positive
BONESUPPORT HOLDING AB shows significant improvement in cash flow, with a notable increase in free cash flow and operating cash flow compared to the previous year. The operating cash flow to net income ratio of 0.78 and free cash flow to net income ratio of 0.74 reflect a healthy cash generation capability. However, the cash flow from financing activities remains negative, indicating a potential decrease in external funding.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue997.85M898.73M591.08M328.82M212.88M180.86M
Gross Profit923.99M832.25M540.92M297.71M189.70M161.60M
EBITDA171.41M185.75M28.94M-54.34M-72.39M-90.91M
Net Income122.34M133.75M245.02M-68.17M-85.53M-101.41M
Balance Sheet
Total Assets896.06M879.69M688.82M371.82M343.92M465.22M
Cash, Cash Equivalents and Short-Term Investments267.13M227.00M167.35M201.28M206.46M353.74M
Total Debt12.66M14.59M17.48M17.45M21.42M10.48M
Total Liabilities155.22M152.23M143.64M102.89M78.22M66.32M
Stockholders Equity740.84M727.46M545.18M268.93M265.70M398.90M
Cash Flow
Free Cash Flow90.63M59.92M-24.32M-50.26M-86.84M-102.93M
Operating Cash Flow95.37M65.76M-18.26M-46.98M-83.42M-100.28M
Investing Cash Flow-5.20M-6.26M-6.06M-3.28M-3.42M-2.66M
Financing Cash Flow-5.49M-4.81M-6.70M42.78M-61.56M365.34M

BONESUPPORT HOLDING AB Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price267.80
Price Trends
50DMA
282.78
Negative
100DMA
309.67
Negative
200DMA
328.56
Negative
Market Momentum
MACD
-3.07
Negative
RSI
51.49
Neutral
STOCH
61.96
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BONEX, the sentiment is Neutral. The current price of 267.8 is above the 20-day moving average (MA) of 263.05, below the 50-day MA of 282.78, and below the 200-day MA of 328.56, indicating a neutral trend. The MACD of -3.07 indicates Negative momentum. The RSI at 51.49 is Neutral, neither overbought nor oversold. The STOCH value of 61.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SE:BONEX.

BONESUPPORT HOLDING AB Peers Comparison

Overall Rating
UnderperformOutperform
Sector (50)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
75
Outperform
$21.99B71.115.83%4.03%6.33%291.12%
72
Outperform
€20.85B92.623.18%16.00%126.41%
65
Neutral
kr18.33B36.793.79%7.87%3.17%
64
Neutral
kr18.75B79.432.43%4.89%-0.57%-81.68%
62
Neutral
kr17.64B146.9318.01%52.17%-54.60%
60
Neutral
€15.57B17.3160.96%501.62%
50
Neutral
kr5.18B11.75-82.66%10.10%36.04%27.80%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SE:BONEX
BONESUPPORT HOLDING AB
273.20
2.20
0.81%
SE:EKTA.B
Elekta AB
48.42
-14.98
-23.62%
SE:VITR
Vitrolife AB
138.60
-33.04
-19.25%
SE:ALIF.B
AddLife AB
183.40
58.60
46.96%
SE:BIOA.B
BioArctic AB Class B
176.50
-58.90
-25.02%
SE:VIMIAN
Vimian Group AB
39.30
5.50
16.27%

BONESUPPORT HOLDING AB Corporate Events

Incoming CEO of BONESUPPORT Acquires Shares, Signaling Confidence
Jun 5, 2025

BONESUPPORT announced that its incoming CEO, Torbjörn Sköld, has acquired 15,000 shares in the company, amounting to an investment of approximately 3.8 million SEK. This move signifies a strong commitment from the new leadership and could positively impact the company’s market confidence and stakeholder trust as Sköld prepares to assume his role in September 2025.

BONESUPPORT HOLDING AB Annual Shareholders’ Meeting Resolutions
May 27, 2025

BONESUPPORT HOLDING AB held its annual shareholders’ meeting where all proposed resolutions were passed. Key decisions included the re-election of board members, adjustments to board remuneration, and the authorization for the board to issue new shares to raise capital and support strategic initiatives. The meeting also approved a long-term incentive program for senior executives and key employees, aiming to align their interests with the company’s long-term performance goals.

BONESUPPORT Announces CEO Transition to Drive Future Growth
Apr 28, 2025

BONESUPPORT announces a leadership transition with Emil Billbäck stepping down as CEO to become a Senior Advisor, while Torbjörn Sköld will assume the CEO role starting September 1, 2025. This change is expected to leverage Sköld’s extensive experience in MedTech and leadership to further advance the company’s mission of transforming bone injury care. The transition is seen as a strategic move to continue the company’s growth trajectory and strengthen its market position.

BONESUPPORT Announces Leadership Transition with New CEO Appointment
Apr 28, 2025

BONESUPPORT has announced a leadership transition with Emil Billbäck stepping down as CEO to become a Senior Advisor, and Torbjörn Sköld taking over as CEO effective September 1, 2025. This change is expected to continue the company’s growth trajectory, leveraging Sköld’s extensive experience in MedTech and orthopedics to further enhance BONESUPPORT’s market position and innovation in bone injury management.

BONESUPPORT Announces Leadership Transition with New CEO Appointment
Apr 28, 2025

BONESUPPORT announces a leadership transition with Emil Billbäck stepping down as CEO to become a Senior Advisor, while Torbjörn Sköld will assume the CEO position effective September 1, 2025. This change is expected to leverage Sköld’s extensive MedTech experience to further the company’s mission of transforming bone injury management, continuing its growth trajectory as a profitable and fast-growing orthobiologics firm.

BONESUPPORT Announces CEO Transition to Propel Future Growth
Apr 28, 2025

BONESUPPORT announces a leadership transition with Emil Billbäck stepping down as CEO to become a Senior Advisor, while Torbjörn Sköld will take over as CEO starting September 1, 2025. This change is expected to leverage Sköld’s extensive MedTech experience to further elevate the company’s position in the orthobiologics market. The board acknowledges Billbäck’s contributions in transforming BONESUPPORT into a profitable and fast-growing entity. Sköld is enthusiastic about continuing the company’s mission of transforming outdated care standards with innovative solutions.

BONESUPPORT Announces CEO Transition to Drive Future Growth
Apr 28, 2025

BONESUPPORT Holding AB has announced a leadership transition with Emil Billbäck stepping down as CEO to become a Senior Advisor, while Torbjörn Sköld will take over as CEO starting September 1, 2025. This change is expected to leverage Sköld’s extensive experience in MedTech and orthopedics to further advance the company’s mission and market position. Billbäck’s tenure saw the company grow into a profitable and fast-growing entity, and his continued involvement as a Senior Advisor is anticipated to support Sköld in maintaining the company’s trajectory of innovation and growth.

BONESUPPORT Announces Leadership Transition with New CEO Appointment
Apr 28, 2025

BONESUPPORT has announced a leadership transition with Emil Billbäck stepping down as CEO after 7.5 years to become a Senior Advisor, while Torbjörn Sköld will take over as CEO starting September 1, 2025. This change is seen as a strategic move to continue the company’s growth trajectory, leveraging Sköld’s extensive experience in MedTech and orthopedics. The transition is expected to strengthen BONESUPPORT’s market position and drive further innovation in transforming the standard of care in bone injury management.

BONESUPPORT Announces Leadership Transition with New CEO Appointment
Apr 28, 2025

BONESUPPORT has announced a significant leadership transition, with current CEO Emil Billbäck stepping down to become a Senior Advisor, and Torbjörn Sköld taking over as CEO effective September 1, 2025. This change is expected to leverage Sköld’s extensive experience in MedTech and orthopedics to further enhance the company’s growth and market position. The transition reflects the company’s strategic focus on maintaining its trajectory as a fast-growing and innovative leader in the orthobiologics sector.

BONESUPPORT Announces Leadership Transition with New CEO Appointment
Apr 28, 2025

BONESUPPORT announced a leadership transition with Emil Billbäck stepping down as CEO to become a Senior Advisor, and Torbjörn Sköld taking over as CEO effective September 1, 2025. This change marks a strategic move for the company, leveraging Sköld’s extensive MedTech experience to continue its growth and innovation in transforming bone injury care, while Billbäck’s new role ensures continuity and strategic support.

BONESUPPORT Announces CEO Transition to Drive Continued Growth
Apr 28, 2025

BONESUPPORT announces a leadership transition with Emil Billbäck stepping down as CEO to become a Senior Advisor, and Torbjörn Sköld taking over as CEO effective September 1, 2025. This change is expected to leverage Sköld’s extensive MedTech experience to further advance the company’s mission of transforming bone injury care through evidence-based innovation. The transition is seen as a strategic move to continue the company’s growth trajectory and maintain its position as a leader in the orthobiologics market.

BONESUPPORT Announces Leadership Transition with New CEO Appointment
Apr 28, 2025

BONESUPPORT announces a leadership transition with Emil Billbäck stepping down as CEO to become a Senior Advisor, and Torbjörn Sköld taking over as CEO from September 1, 2025. This change is expected to leverage Sköld’s extensive MedTech experience to further the company’s growth and innovation in the orthobiologics market, while Billbäck’s continued involvement will ensure strategic continuity.

BONESUPPORT Announces CEO Transition to Drive Future Growth
Apr 28, 2025

BONESUPPORT announces a leadership transition with Emil Billbäck stepping down as CEO after 7.5 years to become a Senior Advisor, while Torbjörn Sköld will take over as CEO on September 1, 2025. Sköld brings extensive experience in the MedTech sector, with a strong background in surgery and orthopedics, and is expected to drive the company forward in its mission to innovate and grow in the orthobiologics market. This change is seen as a strategic move to maintain the company’s growth trajectory and strengthen its market position.

BONESUPPORT Announces Leadership Transition with New CEO Appointment
Apr 28, 2025

BONESUPPORT has announced a significant leadership transition, with current CEO Emil Billbäck stepping down after 7.5 successful years to become a Senior Advisor. Torbjörn Sköld, with extensive experience in MedTech and a strong commercial track record, will take over as CEO on September 1, 2025. This change is expected to further bolster BONESUPPORT’s position as a fast-growing company in the orthobiologics sector, continuing its mission of transforming outdated standards of care through innovation.

BONESUPPORT Announces Leadership Transition with New CEO Appointment
Apr 28, 2025

BONESUPPORT announces a leadership transition with Emil Billbäck stepping down as CEO to become a Senior Advisor, and Torbjörn Sköld taking over as CEO effective September 1, 2025. This change is expected to leverage Sköld’s extensive experience in MedTech and orthopedics to further propel the company’s growth and innovation in transforming bone care standards. The transition reflects BONESUPPORT’s strategic focus on maintaining its market-leading position and continuing its growth trajectory.

BONESUPPORT Announces Leadership Transition with New CEO Appointment
Apr 28, 2025

BONESUPPORT announces a leadership transition with Emil Billbäck stepping down as CEO to become a Senior Advisor, while Torbjörn Sköld will assume the CEO role starting September 1, 2025. This change is expected to leverage Sköld’s extensive MedTech experience to further the company’s growth and innovation in transforming bone injury care, while Billbäck’s continued involvement ensures strategic continuity.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jun 05, 2025