Artrya (AYA) Q4 2025 TU earnings summary

Executive summary

• Transitioned from R&D to commercial operations with the first U.S. commercial launch of the Salix Coronary Anatomy platform and a five-year agreement with Tanner Health worth at least $600,000, marking the start of U.S. commercial revenues.

• Strong interest from U.S. hospital systems in the SAPPHIRE study and Salix platform, with a focus on expanding commercial partnerships and integrating U.S. and Australian hospital partners.

• Leadership transition with the CEO focusing on U.S. commercial execution and the CFO supporting commercial and finance functions; John Konstantopoulos appointed CEO.

• Advanced FDA submission for Salix Coronary Plaque module and prepared for SAPPHIRE clinical study.

Financial highlights

• Cash at 30 June 2025 was $11.3M, with $3.7M total cash inflows for the quarter and $5.4M cash outflows, mainly due to commercial launch and regulatory activities.

• Key operating cash flow areas: $1.7M for project/operational costs and $1.7M for R&D.

• Received $0.4M R&D rebate and $9.4M from equity placement; estimated R&D tax rebate of $4.5M–$5M expected by end of 2025.

• Estimated quarters of funding available: 2.08, based on current cash and outflows.

Outlook and guidance

• Four key objectives: expand commercial operations in U.S. and Australia, secure FDA clearance and launch of Salix Coronary Plaque, launch SAPPHIRE study, and complete Salix Coronary Flow module for FDA submission in Q4 2025.

• Focus for FY2026 is on integrating hospital partners and building commercial revenues, with first subscription revenues expected in the September quarter.

• Anticipates FDA clearance for Salix Coronary Plaque module in Q3 2025, unlocking reimbursement opportunities.

• Average monthly cash outflows expected to return to pre-June quarter levels, with spending focused on commercial and regulatory milestones.

• Clear pathway for sustained growth based on strong commercial foundations.