Aurora Spine (ASG) Q4 2025 earnings summary

Executive summary

• Achieved record annual and Q4 2025 revenue, with Q4 marking the first $5 million revenue quarter in company history and fiscal 2025 revenue reaching $18.4 million, up 4.6% year-over-year.

• Strong momentum attributed to expanded internal sales force, successful proprietary product launches (ZIP, SiLO, DEXA-L), and the launch of Aurora Biologics.

• Launched DEXA-L, the first bone density-matched lumbar implant, and prepared for DEXA-C and other product extensions in 2026.

• Two new product extensions planned for 2026, including a disposable kit for SI joint pain and further DEXA-enabled products.

• Expanded sales and marketing team, with new hires covering previously uncovered territories and increased advanced training for physicians.

Financial highlights

• Q4 2025 revenue reached $5.02 million, up 14% sequentially and 7% year-over-year; fiscal 2025 revenue was $18.4 million, up from $17.6 million in 2024.

• Gross profit margin improved to 62.4% in Q4 2025 from 57.8% in Q4 2024; fiscal 2025 gross margin was 61%.

• Q4 2025 net loss narrowed to $41,000 from $653,000 in Q4 2024; fiscal 2025 net loss was $731,000, improved from $1 million in 2024.

• EBITDAC for Q4 2025 was $301,000, up from $165,000 in Q3 and a loss of $320,000 in Q4 2024; fiscal 2025 EBITDAC was $587,000, up 108% from 2024.

• Ended the year with nearly $99,000 in cash and improved accounts receivable collections, including $202 million collected in December.

Outlook and guidance

• Anticipates continued sales momentum and growth in 2026, with seasonality expected but a stronger start than the previous year.

• Expects new product launches and expanded sales force to drive further revenue growth.

• Focused on achieving cash flow positivity and leveraging new biologic and DEXA product lines.