Aurora Spine Corporation Announces Record First Quarter Financial Results

Core Insights - Aurora Spine Corporation reported its best first quarter on record for fiscal 2025, with a revenue increase of 10.0% year-over-year, reaching $4.42 million [3][4][7]. Financial and Business Highlights - The company achieved record Q1 revenue of $4,417,027, an increase of $403,226 compared to $4,013,801 in Q1 2024 [4][7]. - Gross margin for Q1 2025 was 58.0%, down from 61.9% in Q1 2024, attributed to increased shipping costs and higher distributor commissions [8]. - Operating expenses rose to $2.90 million in Q1 2025 from $2.75 million in Q1 2024, primarily due to increased compensation and training expenses [9]. - The net loss for Q1 2025 was $(0.350) million, compared to a loss of $(0.267) million in Q1 2024 [11]. Management Commentary - The CEO highlighted the success of proprietary product platforms, particularly the SiLO-TFX system and ZIP-51, which enhance spinal surgery outcomes [3]. - Future growth is anticipated to exceed 20% in fiscal 2025, driven by R&D investments and the launch of new products, including the DEXA-L series and AERO™ [3]. - The CFO emphasized the company's focus on maintaining tight expense controls while capitalizing on growth opportunities [5]. Product Developments - The FDA granted 510(k) clearance for the AERO™ Facet Fusion System, marking a significant milestone for the company [4]. - The DEXA-C cervical implant sales increased by $204K year-over-year, indicating a renewed focus on the cervical spine market [4]. - The company is preparing for the launch of the DEXA-L and AERO products, which are expected to enhance its product portfolio [3][4]. Selected Financial Position Information - As of March 31, 2025, total assets were $11,754,003, with cash at $488,693 and receivables at $4,098,086 [13][14]. - Current liabilities increased to $4,263,792 from $3,884,233 at the end of 2024 [14]. Selected Quarterly Information - The company reported a gross profit of $2,562,783 for Q1 2025, with operating expenses of $2,879,114 [16]. - EBITDAC for Q1 2025 was $(20,924), a slight improvement from $(320,362) in Q1 2024 [16].