Anteris Technologies Global Corp(AVR) - 2025 Q2 - Quarterly Results

Financial Performance Summary For the six months ending June 30, 2025, Anteris Technologies reported a 16% decrease in revenue to $1.17 million compared to the same period in 2024, with the loss from ordinary activities after tax increasing by 23% to $43.0 million and the net loss attributable to members growing by 22% to $42.7 million Financial Performance Overview | | Six months to June 30, | | | | |---|---|---|---|---| | | 2025 (US$'000) | 2024 (US$'000) | Change (US$'000) | Change (%) | | Revenues from ordinary activities | 1,174 | 1,398 | (224) | (16%) | | Loss from ordinary activities after tax | (42,993) | (34,972) | (8,021) | 23% | | Loss for the period attributable to members | (42,698) | (35,057) | (7,641) | 22% | - No dividend has been proposed or declared for the reporting period[3] Capital Management and Use of Funds The company raised net proceeds of $80.0 million from its initial public offering in December 2024, primarily allocating these funds to the development of the DurAVR® THV and its pivotal trial ($37.6 million), with the remainder used for working capital and general corporate purposes, including debt repayment, while payments to related parties totaled $640,000 in Q2 2025 - The company completed an initial public offering on December 12, 2024, issuing 14,878,481 shares at $6.00 per share, raising net proceeds of $80.0 million after expenses[5][6] - As of June 30, 2025, the use of IPO proceeds included: - $37.6 million for the ongoing development and pivotal trial of DurAVR® THV - $14.1 million for net working capital, v2vmedtech expenditure, and other corporate purposes, which included a $6.4 million debt repayment[9] - During Q2 2025, aggregate payments to related parties and their associates, including executive remuneration and director fees, amounted to $640,000[6] Company and Product Overview Anteris is a global structural heart company focused on developing medical devices, with its lead product, the DurAVR® Transcatheter Heart Valve (THV), a biomimetic valve designed to treat aortic stenosis using patented ADAPT® tissue, which has been clinically used in over 55,000 patients worldwide - Anteris is a global structural heart company focused on designing, developing, and commercializing medical devices to restore healthy heart function[10] - The company's lead product is the DurAVR® Transcatheter Heart Valve (THV), a balloon-expandable, biomimetic valve designed to treat aortic stenosis by mimicking a healthy human aortic valve[11] - DurAVR® THV utilizes ADAPT® tissue, Anteris's patented, FDA-cleared anti-calcification technology, which has been clinically used for over 10 years in more than 55,000 patients[11]