Earnings call transcript: Kuros Biosciences posts H1 2026 profit on 45% sales gain

Kuros Biosciences announced a first-half profit for 2026, driven by a 45% sales increase. The Swiss medical device maker reported CHF 92.4 million in sales and adjusted EBITDA of CHF 12.5 million, marking a shift from a CHF 2 million loss in the previous year. The stock held steady at $22.96, below its 52-week high of $34.20 but above the low of $17.69.

Orthopedic biologics sales continued to grow rapidly, with direct MagnetOs sales up 46%. The company has treated over 150,000 patients worldwide since launch. Kuros relies heavily on the U.S. market, which accounts for about 95% of revenue. Their gross profit margin of 87% indicates efficiency.

Management highlighted hospital accounts, surgeon adoption, and strong institutional relationships as key growth drivers. They now work with over 600 hospitals in the U.S., with surgeon utilization at 16% in H1. International sales, though smaller, are growing, with the company seeking 5-10% international revenue in the medium term.

Kuros expects revenue to grow about 35% in 2026, and aims to more than double revenue to CHF 300-330 million by 2028. However, analysts forecast earnings per share of $0.31. Kuros is still working to reduce fixed costs and improve margins, with H2 margins expected to face some pressure. The company is now viewed as a "profitable, high-growth medical technology company."