Aurora Spine Corporation Announces Second Quarter 2024 Financial Results
Aurora Spine Corporation Announces Second Quarter 2024 Financial Results
NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES
不適用於在美國或通過美國電匯服務進行分銷
CARLSBAD, Calif., Aug. 21, 2024 (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 second quarter ended June 30, 2024.
加利福尼亞州卡爾斯巴德，2024年8月21日（GLOBE NEWSWIRE）——改善脊柱手術結果的脊柱和介入性脊柱技術的領導者奧羅拉脊柱公司（「Aurora Spine」 或 「公司」）（TSXV：ASG）（OTCQB：ASAPF）今天公佈了截至2024年6月30日的第二季度財務業績。
All figures are in U.S. dollars.
所有數字均以美元爲單位。
Financial and Business Highlights
財務和業務亮點
-
Continued Positive EBITDAC – Q2 2024 EBITDAC was $105,522 as compared to ($163,660) in Q2 2023, an improvement of $269,182. This marks the fourth consecutive quarter of positive EBITDAC, underscoring Aurora Spine's consistent profitability.
-
Robust Sales Growth – Q2 2024 sales of $4,079,543, represents an Increase of $510,960 or 14.3% compared to sales of $3,568,583 in the same period the previous year. This growth reflects the strong market demand for Aurora's advanced spine solutions, leading to the third consecutive quarter surpassing $4 million in revenue.
-
Enhanced Profit Margins – Gross margin of 62.4% in the current period is a 5.5% increase over the 56.9% gross margin in the comparable period of the previous year. Margin growth is driven by sales of higher margin implants and decreased distributor commissions as a percentage of sales offset by higher royalty and shipping costs.
-
Surge in SiLO sales – The SiLO-TFX SI joint implant and SiLO allograft implant generated $1.7 million in sales, accounting for 41.7% of total Q2 revenue. This is a significant jump from the 22.3% or $795K contribution in Q2 2023. Notably, SiLO-TFX sales grew by 20.4% from Q1 2024 to Q2 2024, reflecting the success of Aurora's expansion into the pain management market.
-
Zip 51 Sales Double – Sales of the ZIP 51 implant nearly doubled, reaching $669,316 in Q2 2024 compared to $345,505 in Q2 2023, an impressive 93.7% increase. The robust growth is attributed to intensified marketing efforts and increased adoption among surgeons.
-
Expanding Sales Force – Aurora continued to scale its sales team throughout Q2, directly contributing to the sales surge. The addition of new sales professionals is expected to further drive growth as they onboard more surgeons into Aurora's ecosystem.
-
Advanced Training Initiatives – The Company maintained its commitment to excellence by conducting advanced training sessions and cadaver labs for top orthopedic, neurosurgical, and pain management physicians, showcasing the clinical advantages of the ZIP and SiLO implants.
- 息稅折舊攤銷前利潤持續增長——與2023年第二季度（163,660美元）相比，2024年第二季度息稅折舊攤銷前利潤爲105,522美元，增長了269,182美元。這標誌着Aurora Spine的息稅折舊攤銷前利潤連續第四個季度實現正增長，凸顯了Aurora Spine的持續盈
- 強勁的銷售增長——2024年第二季度的銷售額爲4,079,543美元，與去年同期的3568,583美元的銷售額相比，增長了510,960美元，增長了14.3％。這一增長反映了市場對Aurora先進脊柱解決方案的強勁需求，導致收入連續第三個季度超過400萬美元。
- 提高利潤率——本期毛利率爲62.4％，比去年同期的56.9％的毛利率增長了5.5％。利潤率增長是由更高的利潤植入物的銷售和分銷商佣金的減少所推動的，佔銷售額的百分比被更高的特許權使用費和運費所抵消。
- Silo銷售額激增——Silo-TFX SI關節植入物和SiLO同種異體移植體創造了170萬美元的銷售額，佔第二季度總收入的41.7％。與2023年第二季度的22.3％或79.5萬美元的捐款相比，這是一個顯著的增長。值得注意的是，從2024年第一季度到2024年第二季度，Silo-TFX的銷售額增長了20.4％，這反映了Aurora成功向疼痛管理市場擴張。
- Zip 51的銷售額翻了一番 — ZIP 51植入物的銷售額幾乎翻了一番，在2024年第二季度達到669,316美元，而2023年第二季度爲345,505美元，增長了93.7％，令人印象深刻。強勁的增長歸因於營銷工作的加強和外科醫生採用率的提高。
- 擴大銷售隊伍 — Aurora在整個第二季度繼續擴大其銷售團隊，直接促進了銷售激增。隨着越來越多的外科醫生加入Aurora的生態系統，預計新的銷售專業人員的加入將進一步推動增長。
- 高級培訓計劃 — 公司通過爲頂尖骨科、神經外科和疼痛管理醫生舉辦高級培訓課程和屍體實驗室，展示ZIP和SiLO植入物的臨床優勢，堅持追求卓越的承諾。
Management Commentary
管理層評論
Trent Northcutt, Chief Executive Officer of Aurora Spine, commented, "The second quarter of 2024 was a pivotal period for Aurora, with notable progress in both our financial performance and market penetration. Our strategic focus on expanding the sales force and targeting underserved markets has yielded strong results, as evidenced by our significant sales growth and improved profitability. We remain dedicated to pushing the boundaries of spinal technology, delivering superior clinical outcomes, and driving sustained financial success for our stakeholders."
Aurora Spine首席執行官特倫特·諾斯卡特評論說：「2024年第二季度是奧羅拉的關鍵時期，我們的財務業績和市場滲透率均取得了顯著進展。我們的戰略重點是擴大銷售隊伍和瞄準服務不足的市場，取得了強勁的業績，我們的顯著銷售增長和盈利能力的提高就證明了這一點。我們仍然致力於突破脊柱技術的界限，提供卓越的臨床結果，併爲我們的利益相關者推動持續的財務成功。」
Financial Results
財務業績
Revenue Growth: Total revenues for Q2 2024 reached $4.02 million, marking a 14.3% increase compared to $3.66 million in Q2 2023. The quarter benefited from strong demand in the pain management sector, particularly for the SiLO TFX and ZIP 51 implants, driven by targeted marketing, training, and product innovation.
收入增長：2024年第二季度的總收入達到402萬美元，與2023年第二季度的366萬美元相比增長了14.3％。本季度受益於疼痛管理領域的強勁需求，尤其是對SiLo TFX和ZIP 51植入物的強勁需求，這得益於有針對性的營銷、培訓和產品創新。
Gross Margin Expansion: Gross margins improved to 62.4% in Q2 2024, up from 56.9% in the same period last year. The margin improvement is a direct result of the increased sales of proprietary products with higher profitability, particularly in markets with favorable pricing dynamics like ambulatory surgery centers.
毛利率擴大：毛利率從去年同期的56.9％提高到2024年第二季度的62.4％。利潤率的提高是盈利能力更高的專有產品的銷售增加的直接結果，尤其是在門診手術中心等定價動態有利的市場中。
Operating Expenses: Operating expenses for Q2 2024 were $2.74 million, up from $2.51 million in Q2 2023. The rise in expenses was primarily due to increased salary and travel costs associated with expanding the sales force, partially offset by reductions in research and development and professional fees.
運營費用：2024年第二季度的運營支出爲274萬美元，高於2023年第二季度的251萬美元。支出的增加主要是由於與擴大銷售隊伍相關的工資和差旅成本的增加，但研發和專業費用的減少部分抵消了這一增加。
EBITDAC Improvement: EBITDAC (a non-GAAP figure non IFRS measure defined as Earnings before Interest, Tax, Depreciation, Amortization and Stock based compensation) was $0.11 million, compared to a loss of $(0.16) million in Q2 2023. This improvement highlights Aurora's ability to enhance profitability through efficient operations and a focus on high-margin product lines.
息稅折舊攤銷前利潤改善：息稅折舊攤銷前利潤（非國際財務報告準則的非公認會計准則指標，定義爲扣除利息、稅項、折舊、攤銷和股票薪酬前的收益）爲11萬美元，而2023年第二季度的虧損爲16萬美元。這一改善凸顯了Aurora通過高效運營和專注於高利潤產品線來提高盈利能力的能力。
Reduced Net Loss: The Company reported a net loss of $(0.154) million for Q2 2024, significantly narrowing from a net loss of $(0.482) million in Q2 2023. Basic and diluted net loss per share improved to $(0.00) in Q2 2024 from $(0.01) in Q2 2023.
減少淨虧損：該公司報告2024年第二季度淨虧損爲1.54億美元，較2023年第二季度的淨虧損（48.2萬美元）大幅縮小。基本和攤薄後的每股淨虧損從2023年第二季度的0.01美元（0.01美元）提高至2024年第二季度的0.00美元。
Full financial statements can be found on SEDAR at ().
完整的財務報表可在SEDAR上找到，網址爲 ()。
SELECTED STATEMENT OF FINANCIAL POSITION INFORMATION
財務狀況表信息精選
The following table summarizes selected key financial data.
下表彙總了選定的關鍵財務數據。
| As at | June 30, 2024 | December 31, 2023 | December 31, 2022 |
| $ | $ | $ | |
| Cash | 518,546 | 766,829 | 423,401 |
| Receivables | 4,215,811 | 3,968,439 | 3,666,310 |
| Prepaid and other current assets | 185,106 | 204,173 | 186,800 |
| Inventory | 3,587,987 | 3,562,349 | 3,054,173 |
| Current assets | 8,507,450 | 8,501,790 | 7,330,684 |
| Notes receivable | 465,819 | 454,628 | - |
| Intangible assets | 850,048 | 753,180 | 881,354 |
| Property and equipment | 2,167,421 | 2,275,478 | 1,910,940 |
| Total assets | 11,990,738 | 11,985,076 | 10,122,978 |
| Current liabilities | 3,618,981 | 3,273,058 | 3,029,599 |
| Non-current liabilities | 3,448,161 | 3,414,695 | 2,773,919 |
| Share capital | 27,657,591 | 27,657,591 | 25,218,093 |
| 截至目前 | 2024年6月30日 | 2023 年 12 月 31 日 | 2022年12月31日 |
| $ | $ | $ | |
| 現金 | 518,546 | 766,829 | 423,401 |
| 應收款 | 4,215,811 | 3,968,439 | 3,666,310 |
| 預付資產和其他流動資產 | 185,106 | 204,173 | 186,800 |
| 庫存 | 3,587,987 | 3,562,349 | 3,054,173 |
| 流動資產 | 8,507,450 | 8,501,790 | 7,330,684 |
| 應收票據 | 465,819 | 454,628 | - |
| 無形資產 | 850,048 | 753,180 | 881,354 |
| 財產和設備 | 2,167,421 | 2,275,478 | 1,910,940 |
| 總資產 | 11,990,738 | 11,985,076 | 10,122,978 |
| 流動負債 | 3,618,981 | 3,273,058 | 3,029,599 |
| 非流動負債 | 3,448,161 | 3,414,695 | 2,773,919 |
| 股本 | 27,657,591 | 27,657,591 | 25,218,093 |
SELECTED QUARTERLY INFORMATION
精選季度信息
The Company's functional currency is the US dollar (USD). The functional currency of the Company's US subsidiary Aurora is USD.
公司的本位幣是美元（USD）。該公司美國子公司Aurora的本位貨幣爲美元。
Operating results for each quarter for the last two fiscal years are presented in the table below.
下表列出了最近兩個財政年度的每個季度的經營業績。
| Quarters End |
June 30, 2024 |
March 31, 2024 |
December 31, 2023 |
September 30, 2023 |
June 30, 2023 |
March 31, 2023 |
December 31, 2022 | September 30, 2022 | ||||||||
| $ | $ | $ | $ | $ | $ | $ | $ | |||||||||
| Revenue | 4,079,543 | 4,013,801 | 4,044,234 | 3,949,530 | 3,568,583 | 2,958,088 | 3,609,514 | 3,648,680 | ||||||||
| Cost of goods sold | (1,532,173) | (1,529,538) | (1,749,216) | (1,592,530) | (1,537,410) | (1,429,987) | (1,783,881) | (1,706,677) | ||||||||
| Gross profit | 2,547,370 | 2,484,263 | 2,295,018 | 2,357,000 | 2,031,173 | 1,528,101 | 1,825,632 | 1,942,003 | ||||||||
| Operating expenses | 2,701,478 | 2,751,188 | 2,580,613 | 2,606,618 | 2,513,587 | 2,191,039 | 2,665,203 | 2,057,655 | ||||||||
| EBITDAC* | 105,522 | 117,171 | 109,734 | 120,796 | (163,660) | (377,871) | (358,311) | 150,687 | ||||||||
| Net loss | (154,108) | (266,925) | (285,595) | (249,618) | (482,414) | (662,938) | (839,570) | (115,652) | ||||||||
| Basic and diluted loss per share** | (0.00) | (0.00) | (0.00) | (0.00) | (0.01) | (0.01) | (0.01) | (0.00) |
| 季度末 | 6月30日 2024 |
三月三十一日 2024 |
十二月三十一日 2023 |
九月三十日 2023 |
6月30日 2023 |
三月三十一日 2023 |
2022年12月31日 | 2022年9月30日 | ||||||||
| $ | $ | $ | $ | $ | $ | $ | $ | |||||||||
| 收入 | 4,079,543 | 4,013,801 | 4,044,234 | 3,949,530 | 3,568,583 | 2,958,088 | 3,609,514 | 3,648,680 | ||||||||
| 銷售商品的成本 | (1,532,173) | (1,529,538) | (1,749,216) | (1,592,530) | (1,537,410) | (1,429,987) | (1,783,881) | (1,706,677) | ||||||||
| 毛利潤 | 2,547,370 | 2,484,263 | 2,295,018 | 2,357,000 | 2,031,173 | 1,528,101 | 1,825,632 | 1,942,003 | ||||||||
| 運營費用 | 2,701,478 | 2,751,188 | 2,580,613 | 2,606,618 | 2,513,587 | 2,191,039 | 2,665,203 | 2,057,655 | ||||||||
| 息稅折舊攤銷前利潤 | 105,522 | 117,171 | 109,734 | 120,796 | (163,660) | (377,871) | (358,311) | 150,687 | ||||||||
| 淨虧損 | (154,108) | (266,925) | (285,595) | (249,618) | (482,414) | (662,938) | (839,570) | (115,652) | ||||||||
| 每股基本虧損和攤薄虧損** | (0.00) | (0.00) | (0.00) | (0.00) | (0.01) | (0.01) | (0.01) | (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.
* EBITDAC是一項非公認會計准則、非國際財務報告準則指標，定義爲扣除利息、稅項、折舊、攤銷和股票薪酬前的收益。該金額包括出售財產和設備的收益（虧損）和其他收入（支出）。
** 未償還期權和認股權證沒有包含在攤薄後的每股虧損的計算中，因爲它們具有反稀釋作用。
Second Quarter 2024 Conference Call Details
2024 年第二季度電話會議詳情
Date and Time: Friday, August 23, 2024, at 11:00 a.m. ET / 8:00 a.m. PT
日期和時間：美國東部時間 2024 年 8 月 23 日星期五上午 11:00 /太平洋時間上午 8:00
Call-in Information: Interested parties can access the conference call by dialing (844) 861-5497 or (412) 317-5794.
電話信息：有興趣的人士可以通過撥打 (844) 861-5497 或 (412) 317-5794 來參加電話會議。
Webcast: Interested parties can access the conference call via a live webcast, which is available via the following link: .
網絡直播:感興趣的人士可以通過網絡直播觀看電話會議, 可通過以下鏈接獲得:.
Replay: A teleconference replay of the call will be available until August 30, 2024, at (877) 344-7529 or (412) 317-0088, replay access code 1299715. Additionally, a replay of the webcast will be available at for 90 days.
重播：電話會議的電話會議重播將持續到2024年8月30日，電話：（877）344-7529或（412）317-0088，重播訪問代碼爲1299715。此外，網絡直播的重播將在 90 天內播出。
About Aurora Spine
關於 Aurora Spine
Aurora Spine is focused on bringing new solutions to the spinal implant market through a series of innovative, minimally invasive, regenerative spinal implant technologies. Additional information can be accessed at or . 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.
Aurora Spine致力於通過一系列創新的微創再生脊柱植入技術爲脊柱植入物市場提供新的解決方案。可以在或處訪問其他信息。多倫多證券交易所風險交易所及其監管服務提供商（該術語在多倫多證券交易所風險交易所的政策中定義）均不對本新聞稿的充分性或準確性承擔責任。
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.
前瞻性陳述
本新聞稿包含前瞻性信息，涉及大量已知和未知的風險和不確定性，其中大多數是Aurora Spine無法控制的，包括但不限於Aurora Spine最終招股說明書中 「風險因素」 和 「關於前瞻性信息的警示聲明」（統稱爲 「前瞻性信息」）中列出的那些風險和不確定性。本新聞稿中的前瞻性信息包括有關公司產品在外科手術中的擬議使用和成功的信息。Aurora Spine提醒Aurora Spine證券的投資者注意一些重要因素，這些因素可能導致Aurora Spine的實際業績與本新聞稿中包含的任何前瞻性陳述中的預測存在重大差異。任何表達或涉及對預期、信念、計劃、目標、假設或未來事件或業績的討論的陳述都不是歷史事實，可能是前瞻性的，可能涉及估計、假設和不確定性，可能導致實際結果或結果與此類前瞻性陳述中表達的結果或結果存在單方面差異。無法保證此處提出的預期會被證明是正確的，因此，潛在投資者不應過分依賴這些前瞻性陳述。這些聲明僅代表截至本新聞稿發佈之日，Aurora Spine不承擔任何更新或修改聲明以反映新事件或情況的義務。
Contact:
聯繫人：
Aurora Spine Corporation
奧羅拉脊柱公司
Trent Northcutt
President and Chief Executive Officer
(760) 424-2004
特倫特·諾斯卡特
總裁兼首席執行官
(760) 424-2004
Chad Clouse
Chief Financial Officer
(760) 424-2004
查德·克勞斯
首席財務官
(760) 424-2004
譯文內容由第三人軟體翻譯。
