Bonesupport Holding AB (publ)

Strong Q3 performance + scalability confirmed (core financials) - Net sales: SEK 409m (+39% reported, +38% at constant FX) vs Q3 2025. - Adjusted operating result: SEK 139m, adjusted operating margin 34% (ex incentive program effects); reported operating result: SEK 123m. - Cash generation: Operating cash flow SEK 138m; cash position SEK 510.5m at quarter end despite the ongoing share buyback (buyback impact in quarter ~SEK 60m). - Gross margin: remained stable and strong at ~94%; Q2 had a temporary dip tied to inventory write-downs, with margins rebounding in Q3.

U.S. growth acceleration led by CERAMENT G; strong adoption across segments - U.S. sales (CERAMENT G) grew strongly: SEK 288m total CERAMENT G U.S. Q3 (vs SEK 192m in Q3 2025). - U.S. reported contribution: SEK 171.4m (with CFO noting mix and cost dynamics; in U.S. CERAMENT G terms, the company highlighted sequential growth in USD and per-workday metrics). - Growth drivers: balance of new accounts + increased usage among existing surgeons; expansion across the 3 prioritized segments: - Foot & Ankle, Trauma, Arthroplasty (surge in Trauma/Arthroplasty is newer; Foot & Ankle more mature).

Major catalyst: SOLARIO trial published (shorten systemic antibiotics under local antibiotic therapy) - SOLARIO (NEJM publication 16 Sept): in patients receiving local antibiotics, short systemic therapy (<7 days) was non-inferior to long systemic therapy (>4 weeks) for definite treatment failure by 12 months: - 14.1% (long) vs 11.1% (short) (met the non-inferiority margin). - Patient benefit signal: adverse/symptom-related events by week 6: - 45.2% (long) vs 17.2% (short) (large, statistically significant difference). - Company frames this as a potential global standard-of-care shift and antibiotic stewardship enabler—expected to support broader CERAMENT adoption over time.