Orthocell (ASX:OCC) is on track to meet Euroz Hartley's fiscal 2025 revenue forecast of AU$8.8 million, following positive second-quarter results that met expectations, according to a Wednesday note from the financial services firm.

The company reported a 9% quarter-on-quarter increase in revenue to AU$2.2 million, bringing first-half revenue to AU$4.2 million, up 29% year-on-year, Euroz Hartleys said.

Euroz Hartleys noted that growth was driven by product launches, including Striate+ for dental bone repair and Remplir for nerve repair.

Euroz Hartley believes that the upcoming US FDA approval of Orthocell's Remplir product, expected by April, will be a key catalyst for the company's growth. Approval would allow Remplir to enter the $1.6 billion US nerve repair market, and see a potential increase in the company's share price, it added.

Euroz Hartleys maintained the company's hold rating and its price target of AU$0.97.

Orthocell's shares slipped almost 1% in recent Friday trade.