Business
Aurora Spine Corporation Announces Fourth Quarter and Fiscal Year 2024 Financial Results
- Company reports record revenue of $17.6 million for FY 2024, an increase of 21% – ...
About this update from Aurora Spine Corp.
[{"type":"text","content":"Aurora Spine Corporation Announces Fourth Quarter and Fiscal Year 2024 Financial Results\n\n\n\n\n -\n \n\n Company reports record revenue of $17.6 million for FY 2024, an increase of 21% –\n \n\n\n\n -\n \n\n Company to host conference call Today, Tuesday, April 29\n \n\n\n th\n \n\n\n at 11am ET/8am PT –\n \n\n\n\n\n\n NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES\n \n\n\n\n\n\n\n CARLSBAD, Calif., April 29, 2025 (GLOBE NEWSWIRE) -- Aurora Spine Corporation (“Aurora Spine” or the “Company”) (TSXV: ASG) (OTCQB: ASAPF), a leader in spine and interventional spine technology that improves spinal surgery outcomes, today announced its financial results for fourth quarter and fiscal year ended December 31, 2024.\n \n\n\n\n All figures are in U.S. dollars.\n \n\n\n\n\n Financial and Business Highlights\n \n\n\n\n\n Record quarterly and annual revenue –\n \n The company recorded its largest ever fourth quarter revenue of $4,702,317 in Q4 2024 compared to Q4 2023 sales of $4,044,234 an improvement of 16.3% or $658,083. The company also recorded record fiscal year 2024 revenue of $17,562,782 compared to fiscal year 2023 sales of $14,520,436 an improvement of 21% or $3,042,346.\n \n\n\n\n\n\n\n Reported positive EBITDAC for FY 2024\n \n – Company reported first annual positive EBITDAC in 2024, which was $282,450 compared to negative $(311,000) in 2023, an improvement of $593,450.\n \n\n\n\n\n\n\n Increased margin –\n \n Margins continued to increase year over year to 60.5% in 2024 from 56.5% in 2023 due to selling more proprietary products, lower inventory costs and a decrease in commissions to distributors as the company built out its internal sales team.\n \n\n\n\n\n\n\n Surge in SiLO-TFX sales –\n \n Sales of the SiLO-TFX™ SI joint implant demonstrated significant revenue growth of 135% in 2024, due to investments in surgeon education, expansion of instrument sets and key salespeople.\n \n\n\n\n\n\n\n Expansion of internal sales force –\n \n The Company continued to hire new salespeople in 2024 expanding the sales force to reach more locations in the United States. This contributed to higher sales in 2024, especially during the second half of the year. The Company expects to evaluate its recent hires and continue to add s...