Centinel Spine (CNTL) investor relations material

Company overview and business model

• Commercial-stage medtech focused exclusively on total disc replacement (TDR) for cervical and lumbar spine; the prodisc platform is positioned as a motion-preserving alternative to fusion.

• Portfolio spans four cervical systems and one lumbar system, with FDA-approved one- and two-level indications across both regions and close to 100 implant configurations.

• prodisc CORE uses a fixed center of rotation and established implant materials; more than 300,000 implants and 590+ peer-reviewed papers support the platform's clinical evidence base.

• As of June 30, 2026, U.S. commercial support included 48 sales and clinical professionals and 400+ distributors; the international network reached 35 countries with 11 direct commercial employees.

Financial performance and metrics

• H1 2026 revenue was $85.2M, up 42% YoY; gross margin was 82% vs. 80%, and net income was $10.2M vs. a $0.5M net loss in H1 2025.

• H1 2026 Adjusted EBITDA, a non-GAAP measure, was $15.5M vs. $6.6M YoY; FY2025 revenue was $132.2M, up 39%, with an $4.3M net loss vs. $12.1M in FY2024.

• FY2025 gross margin was 80% vs. 77% in FY2024; Adjusted EBITDA was $20.2M vs. $5.9M, up 241% YoY.

• At June 30, 2026, cash and equivalents were $25.1M, debt outstanding was $136.1M and accumulated deficit was $188.4M.

• H1 2026 operating cash flow was $7.7M vs. a $4.6M use in H1 2025; investing cash use was $3.8M, primarily property and equipment purchases.

Use of proceeds and capital allocation

• IPO net proceeds will be used to purchase newly issued Series A Common Units in Centinel LLC; operating proceeds are planned for offering and reorganization costs, debt repayment, growth investment and general purposes.

• Planned allocation includes repayment of 2023 Credit Agreement obligations and partial repayment of the SLR term loan, including applicable interest and fees.

• Remaining proceeds are intended for sales and marketing, surgeon and patient education, clinical and R&D programs, instrument sets, implant inventory, working capital and operating expenses.

• Current resources plus IPO proceeds and expected product cash generation are expected to fund operating expenses and capital needs for at least the next 12 months; actual allocations remain at management's discretion.