CARLSBAD, CALIFORNIA, June 10, 2025 (GLOBE NEWSWIRE) -- Aurora Spine Corporation (“Aurora Spine” or the “Company”) (TSXV: ASG) (OTCQB: ASAPF), a pioneer in innovative spinal solutions, proudly announces that its proprietary SiLO™ Sacroiliac (SI) Joint Fusion System has been successfully used in over 2,500 procedures across the United States. This major milestone underscores the company’s accelerating growth and increasing adoption of its minimally invasive technology by surgeons nationwide. Aurora’s SiLO™ p ...

Core Insights - Aurora Spine Corporation reported record revenue of $17.6 million for FY 2024, marking a 21% increase compared to FY 2023 [1][5][7] - The company will host a conference call on April 29, 2025, to discuss these results [1] Financial and Business Highlights - The fourth quarter of 2024 saw revenue of $4.7 million, a 16.3% increase from $4.04 million in Q4 2023 [5][7] - The company achieved its first full year of positive EBITDAC at $282,450 for FY 2024, an improvement of $593,450 from a negative EBITDAC of $(311,000) in FY 2023 [5][10][11] - Gross margins improved to 60.5% in FY 2024 from 56.5% in FY 2023, driven by increased sales of proprietary products and lower inventory costs [5][8] - Sales of the SiLO-TFX system surged by 135% in 2024, attributed to investments in surgeon education and expansion of instrument sets [4][5] - The internal sales force expanded to 14 members, contributing to higher sales, particularly in the latter half of 2024 [4][5] Management Commentary - The President & CEO highlighted the company's achievements in FY 2024, including strong revenue growth and margin improvement, driven by proprietary products [4][6] - The company anticipates growth in 2025, particularly from the newly FDA-cleared AERO™ product platform, expected to generate significant sales [4][6] Financial Results - Total operating expenses for FY 2024 were $11.438 million, up from $9.892 million in FY 2023, primarily due to increased sales staff and training costs [9] - The net loss for FY 2024 was $(1.003) million, an improvement from a loss of $(1.680) million in FY 2023 [12] Selected Financial Position Information - As of December 31, 2024, total assets were $11.67 million, a decrease from $11.99 million in 2023 [16] - Cash increased to $825,621 from $766,829 in 2023, while receivables decreased to $3.78 million from $3.97 million [16]