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Tag: revenue growth reports

  • Burning Rock achieves 9.6% revenue growth in Q2 2025

    Burning Rock achieves 9.6% revenue growth in Q2 2025

    Burning Rock Biotech Limited, a company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, today reported financial results for the three months ended June 30, 2025.

    Second Quarter 2025 Financial Results
    Total Revenues were RMB148.5 million (US$20.7 million) for the three months ended June 30, 2025, representing a 9.6% increase from RMB135.5 million for the same period in 2024.

    • Revenue generated from in-hospital business was RMB62.5 million (US$8.7 million) for the three months ended June 30, 2025, representing a 4.4% increase from RMB59.9 million for the same period in 2024, driven by an increase in sales volume from existing hospitals and new contracted partner hospitals.
    • Revenue generated from central laboratory business was RMB40.9 million (US$5.7 million) for the three months ended June 30, 2025, representing a 16.2% decrease from RMB48.8 million for the same period in 2024, primarily attributable to a decrease in the number of tests, as we continued our transition towards in-hospital testing.
    • Revenue generated from pharma research and development services was RMB45.2 million (US$6.3 million) for the three months ended June 30, 2025, representing a 68.1% increase from RMB26.9 million for the same period in 2024, primarily attributable to an increased development and testing services performed for our pharma customers.

    Cost of revenues was RMB40.5 million (US$5.6 million) for the three months ended June 30, 2025, representing an 0.9% increase from RMB40.1 million for the same period in 2024.

    Gross profit was RMB108.1 million (US$15.1 million) for the three months ended June 30, 2025, representing a 13.3% increase from RMB 95.4 million for the same period in 2024. Gross margin was 72.8% for the three months ended June 30, 2025, compared to 70.4% for the same period in 2024. By channel, gross margin of central laboratory business was 87.9% for the three months ended June 30, 2025, compared to 78.8% during the same period in 2024, primarily due to a reduction in material and shipping costs resulted from cost optimization and control measures; gross margin of in-hospital business was 74.4% for the three months ended June 30, 2025, compared to 73.6% during the same period in 2024, primarily due to a decreased depreciation; gross margin of pharma research and development services was 56.8% for the three months ended June 30, 2025, compared to 48.2% during the same period of 2024, primarily due to a decreased depreciation and an increase in test volume of higher margin projects.

    Non-GAAP gross profit, which excludes depreciation and amortization expenses, was RMB110.5 million (US$15.4 million) for the three months ended June 30, 2025, representing a 8.4% increase from RMB101.9 million for the same period in 2024. Non-GAAP gross margin was 74.4% for the three months ended June 30, 2025, compared to 75.2% for the same period in 2024.

    Operating expenses were RMB119.6 million (US$16.7 million) for the three months ended June 30, 2025, representing a 42.1% decrease from RMB206.7 million for the same period in 2024. The decrease was primarily driven by budget control measures and headcount reduction to improve the Company’s operating efficiency.

    • Research and development expenses were RMB49.8 million (US$6.9 million) for the three months ended June 30, 2025, representing a 23.4% decrease from RMB65.0 million for the same period in 2024, primarily due to (i) a decrease in amortized expense on share-based compensation; and (ii) a decrease in the expenditure for research projects.
    • Selling and marketing expenses were RMB38.4 million (US$5.4 million) for the three months ended June 30, 2025, representing a 21.5% decrease from RMB48.9 million for the same period in 2024, primarily due to (i) a decrease in staff cost resulted from the reorganization of the sales department and improvement in operating efficiency; and (ii) a decrease in entertainment expense; and (iii) a decrease in depreciation and amortization expense.
    • General and administrative expenses were RMB31.4 million (US$4.4 million) for the three months ended June 30, 2025, representing a 66.1% decrease from RMB92.8 million for the same period in 2024, primarily due to an decrease in amortized expense on share-based compensation.

    Net loss was RMB9.7 million (US$1.4 million) for the three months ended June 30, 2025, compared to RMB108.0 million for the same period in 2024.

    Cash, cash equivalents and restricted cash were RMB455.0 million (US$63.5 million) as of June 30, 2025.

    Exchange Rate Information
    This press release contains translations of certain Renminbi amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars and from U.S. dollars to Renminbi are made at a rate of RMB7.1636 to US$1.00, the exchange rate on June 30, 2025, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all.
    The NewsBit Bureau

  • Q2 2025: Shoulder Innovations posts $11M revenue, up 33%

    Q2 2025: Shoulder Innovations posts $11M revenue, up 33%

    Shoulder Innovations, Inc., a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market, today reported financial results for the second quarter ended June 30, 2025.

    Recent Business Highlights

    • Increased net revenue 33% year-over-year to $11.0 million in the second quarter of 2025, in-line with the range provided in the company’s Registration Statement
    • Achieved gross margin of 76.2% in the second quarter of 2025
    • Sold 1,503 total implant systems in the second quarter of 2025, a 34% increase year-over-year
    • Closed a $40 million convertible notes financing
    • Completed an initial public offering (IPO), raising $75 million of gross proceeds
    • Appointed Rick Buchholz to its Board of Directors
    • Expanded I-Series humeral stem product line with the full commercial launch of the InSet™ 70

    “We are pleased with both our second quarter performance, which was in-line with the preliminary estimates, and the momentum in our business,” said Rob Ball, CEO of Shoulder Innovations. “Our financial results and operational progress reflect accelerating market adoption of our advanced implant systems for anatomic and reverse total shoulder arthroplasty. Additionally, we are expanding our base of surgeon customers, which increased nearly 50% year-over-year in the second quarter.”

    “From a balance sheet perspective, we are also excited to have successfully completed our convertible notes financing and IPO and are grateful for the support of all the investors who participated,” Mr. Ball continued. “With these financings, we are well- positioned to continue scaling our investments to execute on our growth strategies. We look forward to further advancing our mission of transforming shoulder arthroplasty and our efforts to enable best-in-class outcomes for shoulder specialists and their patients and create long-term shareholder value.”

    Second Quarter 2025 Financial Results
    Net revenue in the second quarter of 2025 increased 33% to $11.0 million, compared to $8.3 million in the second quarter of 2024. The increase was due to an increase in the number of implant systems sold, as well as an increase in the number of new customers.

    Gross margin in the second quarter of 2025 was 76.2%, compared to 76.9% in the second quarter of 2024.

    Selling, general, and administrative expenses in the second quarter of 2025 increased 40% to $12.8 million, compared to $9.2 million in the second quarter of 2024. The increase was primarily due to increased headcount in the commercial organization, higher legal costs related to litigation, and increased legal, accounting, and professional service fees related to the transition to a public company.

    Research and development expenses in the second quarter of 2025 increased 21% to $1.4 million, compared to $1.2 million in the second quarter of 2024. The increase was due to investment in new product development efforts.

    Operating loss in the second quarter of 2025 was $5.9 million, compared to a loss of $4.0 million in the second quarter of 2024.

    Net loss in the second quarter of 2025 was $19.2 million, compared to a net loss of $4.2 million in the second quarter of 2024. The increase was primarily related to a $13.1 million expense for changes in the fair value of the company’s preferred stock warrant liability and Series E purchase option.

    Adjusted EBITDA in the second quarter of 2025 was a loss of $18.1 million, compared to a loss of $3.2 million in the second quarter of 2024. The increase in loss was primarily due to the aforementioned changes in the fair value of the company’s preferred stock warrant liability and Series E purchase option.

    As of June 30, 2025, cash, cash equivalents, and marketable securities totaled $39.6 million. The company received an aggregate of approximately $115 million of gross proceeds from the issuance of its convertible notes in July 2025 and its IPO, which closed on August 1, 2025.

    2025 Financial Outlook
    Shoulder Innovations expects revenue for the full year 2025 to be in the range of $42 million to $44 million, representing growth of approximately 33% to 39% over full year 2024 revenue.

    Morgan Stanley 23rd Annual Global Healthcare Conference
    Members of management will participate in a fireside chat at the Morgan Stanley 23rd Annual Global Healthcare Conference today, September 9, 2025, at 8:30 a.m. ET. A live and archived webcast of the fireside chat will be available on the “Investor Relations” section of the Shoulder Innovations website at https://ir.shoulderinnovations.com/.

    Use of Non-GAAP Financial Measures and Key Business Metrics
    In addition to our results and measures of performance determined in accordance with U.S. GAAP, we believe that non-GAAP financial measures can be useful in evaluating and comparing our financial and operational performance over multiple periods, identifying trends affecting our business, formulating business plans and making strategic decisions. We use and present Adjusted EBITDA for this purpose. We define Adjusted EBITDA as net loss before interest expense, net, income tax expense, depreciation and amortization, stock-based compensation expense.

    We believe that Adjusted EBITDA, together with a reconciliation to net loss, provides meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations, or outlook. However, Adjusted EBITDA has limitations as an analytical tool, and you should not consider this measure in isolation or as a substitute for analysis of our financial results as reported under U.S. GAAP. Some of these potential limitations include: other companies, including companies in our industry which have similar business arrangements, may report Adjusted EBITDA, or similarly titled measures but calculate them differently, which reduces their usefulness as comparative measures; although depreciation and amortization expenses are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditures for such replacements or for new capital expenditure requirements; Adjusted EBITDA also does not reflect changes in, or cash requirements for, our working capital needs or the potentially dilutive impact of stock- based compensation; and Adjusted EBITDA does not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on existing or future debt that we may incur. Because of these and other limitations, you should consider Adjusted EBITDA only as supplemental to other GAAP-based financial measures.

    In addition, we believe that the number of implant systems sold is a key business metric and a useful indicator of our ability to drive demand for our implant systems, generate net revenue and expand our business. We regularly review a number of operating and financial metrics to evaluate our business, measure our performance, identify trends affecting our business, formulate our business plan and make strategic decisions.
    The NewsBit Bureau