Tissue Regenix reports strong first half as it focuses on four growth pillars

Proactive - Interviews for investors

Tissue Regenix Group PLC (AIM:TRX) CEO Danny Lee and CFO David Cocke take Proactive's Stephen Gunnion through company’s significant financial progress and strategic growth pillars. Cocke highlighted a strong first half of 2024, with revenues increasing by 16% to $16.4 million. This marks the eighth consecutive growth period, with the gross profit margin rising to 53%, and EBITDA more than doubling to $1.1 million. Notably, the company achieved its first pre-tax profit, a milestone in its history. Discussing the growth drivers, Cocke emphasised the 26% growth in mineralised bone matrix products and the addition of 24 new distributors. The company’s tissue partnerships and regulatory evolution, such as its move to develop medical devices, were key components of the strategy. Lee elaborated on the company’s 4S and the four growth pillars: base business, tissue partnerships, regulatory evolution, and market expansion. Tissue Regenix has been expanding into global markets and developing innovative products like OrthoPure XT for knee surgeries in collaboration with Geistlich Pharma in Switzerland. He noted that despite regulatory delays in certain regions, the company remains committed to global growth and scaling its operations. For more insights from the interview, make sure to watch the full video! Don’t forget to like the video, subscribe to Proactive’s YouTube channel, and turn on notifications for future updates. #TissueRegenix #MedicalDevices #Orthopedics #RevenueGrowth #BiotechInvesting #HealthcareInnovation #ProactiveInvestors #CEOInterview #EBITDA #SurgicalTechnology #ProactiveInvestors #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews