Exceeding Revenue and EBITDA Guidance
The company exceeded its revenue expectations at $69.6 million, above the high end of its guidance, and delivered over $7 million of adjusted EBITDA.
Strong Consumable Sales
Consumables grew over 8% and now represent over 70% of the company's revenue. Consumable net sales increased 3.5% in the Americas, 42.6% in APAC, and 7.9% in EMEA.
Successful Product Launches
The Hydralock HA booster launched in the second half of 2024 marked the most successful branded booster launch in the company's history.
Improved Gross Margin
Adjusted gross margin for the quarter was 71.9% compared to 63.4% in the prior year period, driven by a favorable mix towards consumable net sales and improved operational processes.
Increased Active Devices
Total active devices in the field increased to over 35,000 units versus approximately 32,500 units at the end of Q1 2024.