Achieved a record $103.1 million in net revenue for 2025, a 19% year-over-year increase, driven by the strength of a hybrid commercial model combining field sales and independent distributors.

Successfully transitioned to a leaner, pure-play surgical company by substantially completing the wind-down of the Tissue Health Plus (THP) segment by year-end 2025.

Expanded gross margins by approximately 200 basis points to 93% through favorable product mix in soft tissue repair and reduced manufacturing costs for CellerateRX Surgical.

Grew the independent distributor network to over 450 contracted partners, up from 350 in 2024, to enhance surgeon education and market awareness.

Increased health care facility penetration to over 1,450 locations, while identifying a significant growth runway within the 4,000+ facilities where products are already approved.

Attributed fourth-quarter growth primarily to soft tissue products, noting that 2024 results were uniquely elevated by $1.8 million due to Hurricane Helene-related market disruptions.

Reaffirmed full-year 2026 revenue guidance of $116 million to $121 million, assuming a growth rate of 13% to 17% as the company scales its surgical operations.

Projected first-quarter 2026 revenue between $26.7 million and $27.2 million, reflecting a 14% to 16% year-over-year increase.

Initiated targeted investments to expand the field sales team beyond the historical 40-representative baseline to capture untapped opportunities in key U.S. territories.

Remains on track for the U.S. commercial launch of OsStic, a breakthrough synthetic bone bio-adhesive, in the first quarter of 2027.

Anticipates no material cash spend related to the discontinued THP segment in 2026, improving overall corporate cash flow profile.

Secured an Innovative Technology contract with Vizient, providing pre-negotiated access to BIASURGE for approximately 1,800 health care facilities starting January 2026.

Recorded a $1.8 million non-cash impairment charge in Q4 2025 related to the write-down of intellectual property assets following the strategic shift away from non-surgical markets.

Converted 11 provisional patent applications into non-provisional filings to strengthen the competitive moat around antimicrobial and collagen technologies.

Reported $6.8 million in cash provided by operations for 2025, a significant turnaround from the $24,000 used in 2024, despite $9 million in cash used by the discontinued THP segment.

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Management characterized the Vizient contract as a major step forward, granting access to 1,800 accounts that previously required individual facility-level negotiations.

While specific product-level guidance was not provided, the company expects the contract to provide a multi-year runway for growth as they educate new facility customers.

Management emphasized that CellerateRX does not face reimbursement risk because it is treated as a supply cost within the existing DRG (Diagnosis-Related Group) framework.

New clinical and economic evidence is expected to strengthen hospital relationships by demonstrating the product's value as a cost-effective surgical solution.

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