CARLSBAD, CA, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Aurora Spine Corporation (“Aurora Spine” or the “Company”) (TSXV: ASG) (OTCQB: ASAPF), a designer and manufacturer of innovative medical devices that improve spinal surgery outcomes, is excited to announce a recorded ZOOM call on September 13, 2024 with Trent Northcutt, CEO of Aurora Spine, and Tim Weintraut, CEO of Alpha Wolf Trading/Blog. The conversation will focus on Aurora's latest innovations, exciting clinical results, and the company's continued financial success.
Key Discussion Points Include:
- DEXA™ Technology – Aurora's cutting-edge, patient-specific interbody implant technology designed to optimize spinal surgery outcomes.
- New Product Launches – Introducing the New Hydra and Osteo-Onyx Lumbar Screw Systems (Degen, Scoli/Deformity, and MIS), advancing the precision and reliability of spinal fixation with proprietary HYDRA RST™ (Roughened Surface Technology). Pioneering complex spine, trauma, deformity, and minimally invasive spinal systems.
- ZIP™ Multi-Center Study Results – Showcasing the impressive outcomes from the ZIP study, further validating Aurora’s ZIP™ technology as a breakthrough in minimally invasive spine procedures.
- SiLO™ TFX SI Joint Fusion System – Now the fastest-growing product in Aurora’s portfolio, the SiLO TFX system continues to gain traction within the pain management market.
Financial and Business Highlights:
- Continued Positive EBITDAC – Q2 2024 EBITDAC stood at $105,522, a significant improvement from ($163,660) in Q2 2023, marking a positive swing of $269,182. This achievement represents the fourth consecutive quarter of positive EBITDAC, underscoring Aurora’s sustained profitability.
- Robust Sales Growth – Q2 2024 sales reached $4,079,543, an increase of $510,960 or 14.3% compared to $3,568,583 in Q2 2023. This marks the third consecutive quarter with revenue surpassing $4 million, driven by demand for Aurora’s advanced spine solutions.
- Enhanced Profit Margins – Q2 gross margin improved to 62.4%, a 5.5% increase from the 56.9% margin in Q2 2023. This growth was fueled by the increased sales of higher-margin implants, alongside lower distributor commissions.
- Surge in SiLO™ Sales – The SiLO™ TFX SI joint fusion system and allograft implants generated $1.7 million in sales, accounting for 41.7% of Q2 revenue, a significant jump from $795K (22.3% of revenue) in Q2 2023. Sales of the SiLO™ TFX system grew by 20.4% from Q1 to Q2 2024, marking Aurora’s expansion into the pain management market.
- ZIP™ 51 Sales Double – The ZIP™ 51 implant sales nearly doubled in Q2 2024, reaching $669,316, a 93.7% increase from $345,505 in Q2 2023, driven by strong marketing efforts and increased surgeon adoption.
- Expanding Sales Force – Aurora continues to scale its sales team, which contributed to its sales growth. New additions to the sales force are expected to onboard more surgeons into Aurora’s expanding ecosystem.
- Advanced Training Initiatives – Aurora remains committed to excellence by hosting advanced training sessions and cadaver labs for top orthopedic, neurosurgical, and pain management physicians, demonstrating the clinical advantages of the ZIP™ and SiLO™ systems.
"We’re extremely proud of the innovations we’ve brought to market, including our SiLO™ TFX system and the exciting new developments in our Hydra and Osteo-Onyx lumbar screw systems”, said Trent Northcutt, President and CEO of Aurora Spine. “Our consistent financial growth, along with the strong clinical outcomes of our products, reflects the hard work and dedication of our entire team. We're committed to continuing this momentum and delivering cutting-edge solutions to improve patient care and outcomes in the spine and pain management markets."
This ZOOM call is a must-watch for investors, healthcare professionals, and anyone interested in Aurora Spine’s future trajectory. The recorded session will be available on Alpha Wolf Trading’s blog shortly after the event. Visit Alpha Wolf Trading's blog for more details
About Aurora Spine
Aurora Spine is focused on bringing new solutions to the spinal implant and pain markets through a series of innovative, minimally invasive, regenerative spinal implant technologies. Aurora Spine is an emerging growth company focused on bringing new solutions to the spinal implant and pain care markets through a series of screwless, innovative, minimally invasive, regenerative spinal implant technologies. Additional information can be accessed at www.aurora-spine.com or www.aurorapaincare.com.
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.
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.
Contact:
Aurora Spine Corporation
Trent Northcutt
President and Chief Executive Officer
(760) 424-2004
Chad Clouse
Chief Financial Officer
(760) 424-2004
www.aurora-spine.com
