Aurora Spine Corporation Announces Record Third Quarter Financial Results
MWN-AI** Summary
Aurora Spine Corporation, a leader in minimally invasive spine solutions, reported its third-quarter financial results for the period ending September 30, 2025. The company achieved revenues of $4.43 million, marking a slight 7.1% decline compared to $4.77 million during the same period in 2024. This decrease is largely attributed to the transition from third-party lumbar screw sales to its proprietary Osteo Onyx product, leading to a significant 30% drop in lumbar screw sales. Despite this, Aurora recorded its first two consecutive quarters of positive EBITDAC, reporting $165,600, up from $141,745 the previous quarter.
During Q3 2025, Aurora launched two new products: the DEXA-L™ Anterior Lumbar Interbody Fusion Device and the Hydra ARO Lumbar Fusion System. Both products achieved initial sales, reinforcing the company’s strategy to enhance its product offerings in the spine and pain management markets. CEO Trent Northcutt expressed confidence in the company’s product development, stating that initial feedback was positive and these innovations are expected to drive future growth.
Operating expenses for Q3 2025 remained stable at $2.81 million, with an emphasis on efficient operations and careful expense management. However, the company reported a net loss of $141,980, contrasting with a profit of $71,120 in the prior year’s quarter. Aurora’s gross margin slightly improved to 60.9%, benefiting from increased direct sales, which reduced distributor commissions.
Chad Clouse, CFO, emphasized the company's commitment to converting receivables into cash and maintaining tight control on expenses, while also highlighting the potential for future growth as they expand their sales team across territories. Aurora Spine’s focus on innovative products positions it well for recovery and advancement in the spinal solutions market.
MWN-AI** Analysis
Aurora Spine Corporation (TSXV: ASG) has recently released its third quarter financial results for 2025, showcasing both resilient revenue generation and the potential for future growth through innovative product launches. Total revenues for Q3 2025 reached approximately $4.43 million, marking consistent sales above $4.4 million over five consecutive quarters despite a year-over-year decline of 7.1% attributed to a transition in product offerings. This highlights an operational challenge, significantly a decrease in lumbar screw sales during the transition from a third-party supplier to their proprietary Osteo Onyx lumbar product.
Importantly, the company reported a positive EBITDAC of $165,600, its second consecutive quarter of profitability in this category. Coupled with a robust gross margin of 60.9%, near-matching the previous year, this demonstrates operational efficiency and the capacity to maintain profitability despite lower revenues.
The commercial introduction of the DEXA-L™ Anterior Lumbar Interbody Fusion Device and the Hydra ARO Lumbar Fusion System offers promising growth catalysts. These innovative products align with the rising demand for minimally invasive spinal and pain solutions, reinforcing the company's market position and commitment to innovation. Initial sales for these devices are encouraging, and positive feedback from the medical community could further bolster sales momentum.
While the recent net loss of $0.142 million raises caution, it is important to note that the management remains optimistic about their ability to leverage new product platforms and expand their sales territories effectively.
For investors, Aurora Spine appears to be positioning itself well for future growth, emphasizing operational efficiency and focusing on product innovation. A buy recommendation may be warranted for those willing to accept the transitional risks associated with the product shift and overlook the current net loss for the promise of long-term growth from proprietary products. Keeping an eye on their sales trajectory and subsequent quarters is essential as their commercialization strategies unfold.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES
CARLSBAD, Calif., Nov. 18, 2025 (GLOBE NEWSWIRE) -- Aurora Spine Corporation (“Aurora Spine” or the “Company”) (TSXV: ASG) (OTCQB: ASAPF), a leader in minimally invasive spine and interventional pain solutions, today announced its financial results for third quarter ended September 30, 2025.
All figures are in U.S. dollars.
Financial and Business Highlights
- Sustained Revenue Performance – Our Q3 2025 marks the fifth consecutive quarter exceeding $4.4 million in sales, and the Company’s 9-month cumulative sales were up $484,698 over the comparable period last year, reflecting continued market expansion and product demand across key segments.
- EBITDAC Performance: Q3 2025 marked a second consecutive quarter of positive EBITDAC. EBITDAC was $165,600 in Q3 2025 and $141,745 in the previous quarter.
- Commercial Launch of DEXA-L™ and Hydra ARO Lumbar Fusion System ™ – Company introduced DEXA-L™ Anterior Lumbar Interbody Fusion Device, and the Hydra ARO Lumbar Fusion System product line, a facet fusion device during Q3 2025. Both products achieved initial sales within the quarter, reinforcing the Company’s commitment to innovation and diversification within the spine and pain markets.
Management Commentary
"Third quarter was one of transition as the company launched and integrated two key new product platforms during the quarter, the DEXA-L and Hydra ARO, both of which have begun to be implanted into patients,” said Trent Northcutt, CEO of Aurora Spine. "These two launches round out the company’s mission of pivoting to developing and selling proprietary products. Now that these products have been launched, our team is highly focused on commercializing all of our product platforms. Initial feedback of these two new product launches has been extremely positive and should act as excellent growth catalysts for Aurora Spine in the years to come.”
“I am very pleased with the progress we’ve made at Aurora and feel very confident in the company’s proprietary product platforms we’ve developed, as they are revolutionizing the industry of spinal pain through minimally invasive procedures. Our products are extremely new to the marketplace, and it is our goal now to build out our sales team by adding more territories. The market is primed for our platform technologies, and it is up to our team to educate interventionalists and surgeons alike of Aurora Spine’s proprietary products, which offer many benefits to them and their patients. This includes alleviating patient’s back pain in a quick and seamless manner, with better outcomes and faster recovery times. I’m extremely excited about our future prospects and look forward to building momentum into the remainder of the year and fiscal 2026 with our deep line up of proprietary products," concluded Mr. Northcutt.
Chad Clouse, Chief Financial Officer of Aurora Spine, commented, “The company is operating extremely efficiently. We continue to focus on our collections activities and converting receivables over to cash as soon as practicable. We also continue to cautiously monitor our expenses and have been successful in finding new vendors at times to improve efficiency and maintain tight expense controls. While we will remain diligent on our expenses, we believe that the company is sufficiently capitalized to pursue growth opportunities.”
Financial Results
Revenues: Total revenues for the third quarter of 2025 were $4.43 million, a decrease of 7.1% when compared to $4.77 million in the same quarter one year ago. The current period shows decreases in lumbar sales as the Company transitioned from a third-party lumbar screw to the Osteo Onyx lumbar product. Sales of lumbar screws is down 30% from Q1 as the company works with facilities and doctors to complete the transition.
Gross Margin: Gross margin on total revenues was 60.9% for the third quarter of 2025, compared to 60.5% in Q3 of 2024. Gross margin was slightly higher due to more direct sales which decreased distributor commissions.
Operating Expenses: Total operating expenses were $2.81 million for the third quarter of 2025, compared to $2.81 million in the third quarter of 2024. Operating expenses in Q3 2025 included $0.267 million of non-cash expenses, compared to $0.266 million of non-cash expenses. Operating expenses were in-line with the prior year, despite higher marketing expenses, which were offset by a decrease in G&A and consulting fees.
EBITDAC: EBITDAC (a non-GAAP figure non IFRS measure defined as Earnings before Interest, Tax, Depreciation, Amortization and Stock based compensation) was $165,600 for the third quarter of 2025, compared to $380,117 in the third quarter of 2024. EBITDAC was lower from year ago results due to lower revenue levels.
Net loss: Net loss was $(0.142) million for the third quarter of 2025, compared to the third quarter of 2024 with income of $0.070 million. Basic and diluted net (loss) income per share was $(0.00) per share in the third quarter of 2025 and $0.00 per share for the third quarter of 2024.
Full financial statements can be found on SEDAR at ( www.sedarplus.ca ).
SELECTED STATEMENT OF FINANCIAL POSITION INFORMATION
The following table summarizes selected key financial data.
| As at | September 30, 2025 | June 30, 2025 | December 31, 2024 |
| $ | $ | $ | |
| Cash | 665,757 | 580,978 | 825,621 |
| Receivables | 4,208,468 | 4,098,212 | 3,784,857 |
| Prepaid and other current assets | 181,666 | 192,736 | 276,084 |
| Inventory | 3,818,985 | 3,831,694 | 3,613,557 |
| Current assets | 8,874,876 | 8,694,620 | 8,500,119 |
| Note receivable | 253,893 | 275,367 | 323,663 |
| Intangible assets | 701,485 | 745,020 | 801,625 |
| Property and equipment | 1,856,881 | 1,852,650 | 2,047,989 |
| Total assets | 11,687,135 | 11,567,657 | 11,673,387 |
| Current liabilities | 4,575,707 | 4,290,155 | 3,884,233 |
| Non-current liabilities | 3,280,520 | 3,328,779 | 3,391,892 |
| Share capital | 27,720,815 | 27,720,815 | 27,657,591 |
SELECTED QUARTERLY INFORMATION
The Company’s functional currency is the US dollar (USD). The functional currency of the Company’s US subsidiary Aurora is USD.
Operating results for each quarter for the last two fiscal years are presented in the table below.
| Quarters End | September 30, 2025 | June 30, 2025 | March 31, 2025 | December 31, 2024 | September 30, 2024 | June 30, 2024 | March 31, 2024 | December 31, 2023 | ||||
| $ | $ | $ | $ | $ | $ | $ | $ | |||||
| Revenue | 4,430,755 | 4,497,381 | 4,417,027 | 4,702,317 | 4,767,121 | 4,079,543 | 4,013,801 | 4,044,234 | ||||
| Cost of goods sold | (1,731,357) | (1,698,257) | (1,854,244) | (1,982,273) | (1,884,637 | ) | (1,532,173 | ) | (1,529,538 | ) | (1,749,216 | ) |
| Gross profit | 2,699,398 | 2,799,124 | 2,562,783 | 2,720,044 | 2,882,484 | 2,547,370 | 2,484,263 | 2,295,018 | ||||
| Operating expenses | 2,814,754 | 2,971,754 | 2,879,114 | 3,372,741 | 2,811,364 | 2,701,478 | 2,751,188 | 2,580,613 | ||||
| EBITDAC* | 165,600 | 141,745 | (20,924) | (320,362) | 380,117 | 105,522 | 117,171 | 109,734 | ||||
| Net loss | (141,980) | (198,760) | (349,678) | (652,697) | 71,120 | (154,108 | ) | (266,925 | ) | (285,595 | ) | |
| Basic and diluted loss per share** | (0.00) | (0.00) | (0.00) | (0.01) | 0.00 | (0.00 | ) | (0.00 | ) | (0.00 | ) |
* EBITDAC is a non-GAAP, non IFRS measure defined as Earnings before Interest, Tax, Depreciation, Amortization and Stock based compensation. This amount includes Gains (losses) on sale of property and equipment and Other income (expense).
** Outstanding options and warrants have not been included in the calculation of the diluted loss per share as they would have the effect of being anti-dilutive.
Third Quarter Fiscal Year 2025 Conference Call Details
Date and Time: Tuesday, November 18, 2025, at 11:00 a.m. ET / 8:00 a.m. PT
Call-in Information: Interested parties can access the conference call by dialing (844) 861-5497 or (412) 317-5794.
Webcast: Interested parties can access the conference call via a live webcast, which is available via the following link: https://app.webinar.net/P8Y3l3qWdNg .
Replay: A teleconference replay of the call will be available until November 25, 2025, at (855) 669-9658 or (412) 317-0088, replay access code 1704277. Additionally, a replay of the webcast will be available at https://app.webinar.net/P8Y3l3qWdNg for 90 days.
About Aurora Spine
Aurora?Spine?Corporation?(TSX?Venture:?ASG?|?OTCQB:?ASAPF) designs and manufactures minimally invasive implants and regenerative solutions for spinal and interventional pain procedures. From its patented DEXA™?bone?density?matched implants to its ZIP™?interspinous systems and SiLO™?SI fusion platform, Aurora?Spine is dedicated to advancing patient?specific, surgeon?driven innovations that restore stability, relieve pain, and deliver dependable fusion outcomes.
Additional information can be accessed at www.aurora-spine.com or www.aurorapaincare.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Aurora Spine, including, without limitation, those listed under "Risk Factors" and "Cautionary Statement Regarding Forward-Looking Information" in Aurora Spine's final prospectus (collectively, "forward-looking information"). Forward-looking information in this news release includes information concerning the proposed use and success of the company’s products in surgical procedures. Aurora Spine cautions investors of Aurora Spine's securities about important factors that could cause Aurora Spine's actual results to differ materially from those projected in any forward-looking statements included in this news release. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and may be forward-looking and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ unilaterally from those expressed in such forward-looking statements. No assurance can be given that the expectations set out herein will prove to be correct and, accordingly, prospective investors should not place undue reliance on these forward-looking statements. These statements speak only as of the date of this press release and Aurora Spine does not assume any obligation to update or revise them to reflect new events or circumstances.
Company Contacts:
Aurora Spine Corporation
Trent Northcutt
President and Chief Executive Officer
(760) 424-2004
Chad Clouse
Chief Financial Officer
(760) 424-2004
www.aurora-spine.com
Investor Contact:
Adam Lowensteiner
Lytham Partners
(646) 829-9702
Email: asapf@lythampartners.com
FAQ**
How does Aurora Spine Corporation ASG:CC plan to address the decline in lumbar sales despite the recent launch of the DEXA-L™ and Hydra ARO Lumbar Fusion System™ to drive future revenue growth?
What specific strategies is Aurora Spine Corporation ASG:CC implementing to effectively educate interventionalists and surgeons about its proprietary products post-launch?
Given the positive EBITDAC performance, how does Aurora Spine Corporation ASG:CC intend to maintain this momentum while managing operational expenses and maximizing cash collections from receivables?
How does Aurora Spine Corporation ASG:CC foresee its proprietary product platforms influencing the competitive landscape in minimally invasive spine procedures over the next few years?
**MWN-AI FAQ is based on asking OpenAI questions about Aurora Spine Corp (OTC: ASAPF).
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