Kuros Biosciences Reports First Half of 2025 Results

Core Insights - Kuros Biosciences reported a significant revenue growth of 78% in H1 2025, reaching USD 63.5 million, driven primarily by Direct MagnetOs product sales [4][6][8] - The company achieved its first-ever operating profit of USD 3.5 million, a notable improvement from an operating loss of USD (0.2) million in H1 2024 [4][11] - Kuros anticipates continued strong growth, projecting sales of USD 220 million to USD 250 million by 2027, with a minimum sales growth expectation of 60% for 2025 [8][14] Financial Highlights - Total group revenue for H1 2025 was USD 63.5 million, a 78% increase from H1 2024 [4][8] - Direct MagnetOs product sales rose by 77% year-on-year to USD 62.7 million [4][8] - EBITDA for H1 2025 reached USD 5.1 million, up from USD 0.8 million in H1 2024, with adjusted EBITDA totaling USD 7.8 million [4][8] - The company reported a net loss of USD (2.0) million for H1 2025, compared to a net loss of USD (0.2) million in H1 2024 [11][15] Operational Highlights - Kuros has established a five-year exclusive strategic sales agent agreement with Medtronic for MagnetOs in the U.S., enhancing commercial access [7] - The company received FDA clearance for its MagnetOs MIS Delivery System, which significantly improves graft placement efficiency [12] - Kuros is expanding its global presence, with recent approvals for MagnetOs products in Brazil and other international markets [12] Strategic Initiatives - The company is constructing a new U.S. headquarters and production facility in Atlanta to support operational expansion and meet rising demand [12] - Kuros hosted its inaugural Capital Markets Day in May 2025, showcasing its scientific leadership and global commercial strategy [12] - The company continues to invest in R&D and marketing to penetrate new markets and enhance brand awareness [10][12]