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Thursday, April 20, 2023 9:37:31 AM
HippoFi, Inc. (formerly known as ORHub, Inc.), delivers cutting-edge healthcare and fintech innovations through an extensive sales channel network while implementing first-to-market solutions in the multi-billion-dollar regenerative therapeutics and digital payments markets. PUR Biologics®, HippoFi's Regenerative Therapeutic division, offers a portfolio of innovative biological products and proprietary technologies for bone growth in surgical spine procedures and advanced autologous cell therapies for regenerating cartilage in joints and spinal discs. HippoFi-Pay™, ORHB's Digital Payment division, is developing a novel business management software, which seeks to standardize processes at the point of surgical care with improved logistics and efficiencies.
In the Opportunity Research report, analyst Rob Goldman reviews ORHB's high sales growth in its Regenerative Therapeutics division, future product innovation and evolution, along with strategic and operational inflection points, and the potential future impact of these events on the company and its valuation.
ORHB Experiencing Unprecedented Top-Line Growth
Goldman commented, "Led by its PUR Biologics division, the Company has quickly become a go-to player in the multi-billion-dollar Regenerative Therapeutics market. The PUR product line features popular, innovative products serving unmet needs. The products are designed for use in spine procedures and advanced autologous cell therapies for regenerating cartilage in joints and spinal discs. Thus, we currently forecast June fiscal year sales will jump from $2.9M in FY23E to $28M in FY24E and $75M in FY25E. Plus, we project meaningful operating income to commence in FY24E."
Major Distributor Driving Sales, Ahead of New, Transformative Product Introductions
"ORHB's sales are driven by its distributor relationships, notably segment leader Precision Spine. The company's 207 sales distributors now offer the complete PUR biologic line to 280 hospitals and roughly 340 spine surgeons who perform 800 of these surgeries monthly," noted Goldman. "In addition, PUR has entered a new innovation and evolution phase, which features the development of transformative products that could be awarded 510(k) clearance in 2024."
Price Target Matches Peer Group Price/Sales Metric
"Our current 12+ month price target reflects a 4x price/revenue multiple on FY25E revenue, the same metric assigned to its peer group. We believe future upside to the target exists when taking into account a premium to FY25E sales and a 25x P/E on net income," concluded Goldman.
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