I agree with your reason for topping up (which, presumably, was...

I agree with your reason for topping up (which, presumably, was the same reason for buying in). The company's products are better than anything else around, and there's a lot of other reasons that give them an edge such as supply chain reliability, lower cost, better patient outcomes, ability to tailor the products quickly to suit patient needs; etc). Also, the clearances that OSX already have to sell their products in USA, Europe, Australia and other markets are impressive, and bode well for a strong future and share price.

Where I am disappointed is OSX's failure to penetrate the markets in which it already has a presence. That could be due to poor marketing, but I think more likely due to low rates of acceptance of their products (e.g doctors switching to Osteopore). While the addressable market is huge, it's a concentrated industry of highly educated, knowledgeable and motivated buyers (i.e the surgeons who use the products). Word spreads fast with those dynamics, hence you don't need massive marketing campaigns. If a product works better than others, word gets around quickly. Surgeons tell their hospitals to buy, they report on the success rates they're having in peer journals, and sales jump fast.

Clearly the take-up rates are not as strong as we had believed they would be. The worry for me is that this is not a new company or a new range of products. Being new would explain some reticence to buy their products. But OSX products have been used in over 40,000 operations and for at least ten years. That should be enough to promote the confidence and word-of-mouth needed to bolster sales, and thus the share price. Especially when combined with more marketing on the back of the capital raising (in the IPO) and being a listed company. It's now been about a year, and the sales results – while impressive in terms of percentage increase – are nowhere near the level I'd call serious.

I bought in with a 2-year time frame, so am willing to wait. But I would like to see some serious improvement in the sales before the end of the year. Failing that, I'll exit and come back later, because I believe this is a company with a bright future. Just maybe not for a while.