Ortoma
Ortoma is a Swedish medical technology company focused on AI-based systems for orthopedic surgery. Its core platform, OTS™, is designed for planning, navigation, and follow-up of implant and prosthesis procedures and is built to work across different implant suppliers and healthcare markets.
Fiscal year 2025 · change from previous year
Development 2021–2025
Business
Share of revenueOperating-room hardware sold as part of the OTS™ solution.
Recurring licenses for the OTS™ planning and navigation platform.
Single-use items consumed during orthopedic procedures.
Implementation, support, and related commercial services around the platform.
Customers
Ortoma sells primarily through distributors and strategic partners, so its direct commercial counterparties are often large healthcare technology or implant-related organizations. The end users are hospitals and clinics performing orthopedic implant and prosthesis procedures, which buy the system to improve surgical workflow, precision, and follow-up.
Buy OTS™ systems and licenses for orthopedic operating rooms to improve planning and navigation.
Use the platform for hip and other orthopedic procedures where workflow and precision matter.
Purchase and resell the solution, helping Ortoma reach markets and end users.
Adopt compatible digital tools that can integrate with their implant offerings.
Strategy
Ortoma's strategy is to commercialize OTS™ through strategic partnerships and a distributor-led model that can scale internationally. It is also building a more recurring revenue base over time by combining hardware sales with software licenses and consumables, while broadening the platform beyond the initial hip application.
Partners provide market access and reduce the need for a large direct sales footprint.
Software licenses and consumables can create a more predictable revenue profile than one-time hardware sales.
Additional indications can expand the addressable market and leverage the same technical platform.
Geography
Ortoma develops its products for a global market and adapts commercialization to local reimbursement systems, regulation, and market structure. The company has highlighted planned expansion across major healthcare markets, with commercialization shaped by distributor partnerships rather than a single-country operating footprint.
Risks
Ortoma's business depends on successful commercialization, clinical adoption, and continued access to qualified personnel and capital. As a medical technology company selling through regulated healthcare channels, it also faces product acceptance, data security, legal, currency, and competition risks that can affect both growth and reported results.
- Commercial adoption riskImpact: HighLikelihood: High
Demand for current and future products may be lower or slower to develop than expected.
Exposure: Sales and market rollout
- Funding and going-concern dependenceImpact: HighLikelihood: High
The company has historically depended on external capital until operations become self-funding.
Exposure: Liquidity and development funding
- Dependence on key personnelImpact: HighLikelihood: Medium
The company relies on a small number of people with specialized knowledge and creativity.
Exposure: Product development and commercialization
- Data privacy and cybersecurityImpact: HighLikelihood: Medium
The business may process sensitive personal and clinical data and could face breaches or compliance failures.
Exposure: Patient data and connected systems
- Market acceptance of new productsImpact: MediumLikelihood: Medium
New launches may be outcompeted or fail to gain traction with hospitals and clinicians.
Exposure: Product pipeline and expansion
- Foreign exchange exposureImpact: MediumLikelihood: Medium
Sales are made globally, with significant USD exposure while many costs are in SEK and EUR.
Exposure: Transaction risk
Accounting
Judgemental itemsDifferent product types may be recognized at different points in time, affecting quarterly comparability.
Impact: Mix shifts can change the share of recurring revenue and reported growth
Balanserade utgifter for development are a major asset and depend on future commercial success.
Impact: Amortization and impairment can materially affect earnings and equity
If commercialization underperforms, the recoverable value of patents and development assets may fall.
Impact: Could create non-cash write-downs
Sales are largely in USD while costs are in SEK, EUR, and USD, creating transaction exposure.
Impact: Can affect revenue, expenses, and net result period to period
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Last updated: 24/09/2026