Raised Full-Year 2026 Revenue Guidance
Company raised FY2026 revenue guidance to $101.0M–$105.0M, citing the addition of HEMOBLAST Bellows, recent product launches (including Trivium Shaped) and measured investments in the commercial organization as drivers of expected top-line growth.
Exclusive U.S. Distribution Agreement for HEMOBLAST Bellows
Announced exclusive U.S. distribution agreement with Dilon Technologies for HEMOBLAST Bellows, providing entry into an estimated $2.0B global hemostatic market. Deal adds a differentiated hemostat (collagen + human thrombin + bovine chondroitin sulfate), immediate cross-sell potential across biologics portfolio, and included hiring Dilon's team of 21 sales professionals to expand commercial reach.
Companion Spine Transaction Strengthened Balance Sheet
Received final $10.7M from Companion Spine; total purchase price for the divestitures was $21.4M. Proceeds used to reduce borrowings and strengthen liquidity, resulting in a total indebtedness reduction of $13.3M in Q1 2026 (including $10.4M revolver paydown and $2.8M term loan payment).
Product Innovation — Commercial Launch of Trivium Shaped
Commercial launch of Trivium Shaped (pre-shaped Trivium allograft forms such as boats and strips) expands the Trivium platform and targets improved operating-room handling and consistency; management reported positive surgeon feedback and views this as a meaningful commercial and clinical advancement.
Reduced Operating Expenses and Improved Expense Profile
Operating expenses declined to $14.9M in Q1 2026 from $19.2M in Q1 2025 (driven largely by the Companion Spine divestitures). G&A decreased to $6.3M (from $7.5M) and sales & marketing to $8.2M (from $11.2M); R&D remained essentially flat at $0.435M.
Improved Liquidity Availability
Availability under revolving credit facility increased to $11.8M as of March 31, 2026 from $3.8M as of December 31, 2025 (an increase of ~$8.0M, ~210% increase), reflecting lower outstanding revolver balances and reduced interest expense strategy.