Aurora Spine Corporation Announces Record Second Quarter Financial Results

- Company to host conference call Tuesday, September 2nd at 11am ET/8am PT -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES

CARLSBAD, Calif., Aug. 29, 2025 (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, 2025.

All figures are in U.S. dollars.

Significant Financial and Business Events

• Continued revenue growth - Q2 2025 revenues increased by 10.2% to $4.5 million, compared to $4.1 million in the same period the previous year.
• EBITDAC improvement - Q2 2025 EBITDAC was $141,745, an improvement from $105,522 compared to Q2 2024 and a sequential increase from $(20,924) in Q1 2025.
• Key product milestones - during Q2 2025 the company surpassed key product milestones, with more than 2,500 procedures using SiLO SI Joint Fusion System and 1,500 surgeries using DEXA-C.
• Prepared launch of Hydra A.E.R.O. - company procured inventory of newly FDA-cleared product for initial surgeries, which commenced in early Q3 2025.
• Publication of new clinical study - Evaluated the biomechanical performance of Aurora Spine's SiLO TFX MIS Sacroiliac Joint Fixation System compared to traditional posterolateral transosseous techniques, which demonstrated SiLO TFX's superior performance, leading to positive patient outcomes.
• Improved DEXA-C and cervical sales - The Company renewed its focus on the cervical spine market in Q1 and Q2 2025 with $794,000 in cervical sales compared to $467,000 sales in the same six month period in 2024, an increase of 70% or $327,000. The majority of the increase is due to sales of the DEXA-C cervical implant.
• DEXA-L Moving to market: Aurora made good progress on integrating its DEXA technology into its Solo standalone lumbar cage. Currently this cage is a solid titanium product, not well differentiated in the marketplace. With the phasing out of our Ti-Nano PEEK lumbar cages due to supply issues, the Sales of lumbar implants to orthopedic and neurosurgeons have declined 19% from the first half of 2024 to the same period in 2025. The new product will be rebranded the DEXA-L and remain a stand-alone lumbar cage. We expect it to launch in Q3 2025.

Management Commentary

"Second quarter results continued to demonstrate growth and solid operational performance as we build our sales efforts in the marketplace and advance our proprietary products amongst medical professionals," said Trent Northcutt, CEO of Aurora Spine. "As a company, we are highly focused on the continued commercialization efforts of our proprietary product platforms that we've developed in the past few years. The market is ripe for more minimally invasive procedures to help alleviate back pain issues in patients. As we continue to educate the marketplace, we are focused on creating the proper balance with both pain interventionalists and neuro/ortho surgeons. While the SiLO-TFX system and the ZIP-51 continue to carry a good portion of our sales efforts, we've also experienced some renewed traction with our DEXA-C cervical implant, which has seen sales increase by 70% in the first half of the year. However, we must improve our presence in the lumbar spine field. We're already executing a focused plan to tighten targeting, elevating case support, and converting more opportunities into recurring accounts. This bodes well for the launch of our DEXA-L series, which is commencing in the coming weeks."

"During the second quarter we were able to leverage our manufacturing capabilities in a timely manner in order to build initial inventory of our newest product platform Hydra A.E.R.O., a facet fusion system. After the quarter's end, we conducted initial surgeries ahead of schedule and the procedures went very well. We have received initial feedback and will continue to expect a ramp up of surgeries for the remainder of the year," added Mr. Northcutt.

"We have put together a strong team that is focused on educating the medical marketplace about our portfolio of proprietary products, focused on minimally invasive procedures that are beneficial to patients. We continue to forge forward with building out our sales efforts and educating the industry about our products. We had a very successful ASPN Conference in July and many of our discussions were with doctors that are eager to learn more about the Hydra A.E.R.O., as well as other products we offer. I'm excited about our future prospects and look forward to building upon the recent successes," concluded Mr. Northcutt.

Chad Clouse, Chief Financial Officer of Aurora Spine, commented, "Financially speaking, the second quarter performed well, with over 10% increase in revenues and solid gross profit margins. While we seek to add more salespeople in strategic areas of the country, we continue to be diligent with our capital and tightly monitor all expenses to strive towards consistent profitability."

Financial Results

Revenue Growth: Total revenues for the second quarter of 2025 were $4.50 million, an increase of 10.2% when compared to $4.02 million in the same quarter one year ago. The improvements in revenues over 2024 were due to more procedures conducted in ambulatory surgical and pain centers that incorporated Aurora products like the ZIP and SiLO TFX. The Company targeted the pain market with increased marketing, training, new product releases, and an increase in the sales staff. Offsetting this has been a decline in sales to the Ortho/Neuro surgical market primarily lead by lower lumbar cage sales as the Company transitions away from solid titanium and PEEK materials and works to introduce our proprietary DEXA technology.

Gross Margin: Gross margin on total revenues were 62.2% for the second quarter of 2025, compared to 62.4% in Q2 of 2024. Gross margin was in-line when compared to last year and improved from Q1 of 2025 as the company continues to sell more proprietary products.

Operating Expenses: Total operating expenses were $2.97 million for the second quarter of 2025, compared to $2.74 million in the second quarter of 2024. Operating expenses in Q2 2025 included $0.298 million of non-cash expenses, compared to $0.217 million of non-cash expenses. Operating expenses were higher during the current quarter primarily due to an increase in sales commissions, marketing and insurance offset by a decrease in G&A and consulting fees.

EBITDAC: EBITDAC (a non-GAAP figure non IFRS measure defined as Earnings before Interest, Tax, Depreciation, Amortization and Stock based compensation) was $141,745 for the second quarter of 2025, compared to $105,522 in the second quarter of 2024. EBITDAC was improved from year ago results due to higher revenue levels.

Net loss: Net loss was $(0.199) million for the second quarter of 2025, compared to the second quarter of 2024 with a loss of $(0.154) million. Basic and diluted net (loss) income per share was $(0.00) per share in the second quarter of 2025 and $(0.00) per share for the second quarter of 2024.

Full financial statements can be found on SEDAR at (www.sedarplus.ca).

SELECTED STATEMENT OF FINANCIAL POSITION INFORMATION
The following table summarizes selected key financial data.

As at	June 30, 2025	March 31, 2025	December 31, 2024
	$	$	$
Cash	580,978	488,693	825,621
Receivables	4,089,212	4,098,086	3,784,857
Prepaid and other current assets	192,736	229,444	276,084
Inventory	3,831,694	3,817,659	3,613,557
Current assets	8,694,620	8,633,882	8,500,119
Note receivable	275,367	295,871	323,663
Intangible assets	745,020	785,314	801,625
Property and equipment	1,852,650	2,038,936	2,047,989
Total assets	11,567,657	11,754,003	11,673,387
Current liabilities	4,290,155	4,263,723	3,884,233
Non-current liabilities	3,328,779	3,361,493	3,391,892
Share capital	27,720,815	27,720,815	27,657,591

SELECTED QUARTERLY INFORMATION
The parent Company's functional currency is the Canadian dollar (CAD). The functional currency of the Company's US subsidiary Aurora is the United Sates dollar (USD). Consolidated financial statements are presented in USD.

Operating results for each quarter for the last two fiscal years are presented in the table below.

Quarters End	June 30, 2025	March 31, 2025	December 31, 2024	September 30, 2024		June 30, 2024		March 31, 2024		December 31, 2023		September 30, 2023
	$	$	$	$		$		$		$		$
Revenue	4,497,381	4,417,027	4,702,317	4,767,121		4,079,543		4,013,801		4,044,234		3,949,530
Cost of goods sold	(1,698,257)	(1,854,244)	(1,982,273)	(1,884,637	)	(1,532,173	)	(1,529,538	)	(1,749,216	)	(1,592,530	)
Gross profit	2,799,124	2,562,783	2,720,044	2,882,484		2,547,370		2,484,263		2,295,018		2,357,000
Operating expenses	2,971,754	2,879,114	3,372,741	2,811,364		2,701,478		2,751,188		2,580,613		2,606,618
EBITDAC*	141,745	(20,924)	(320,362)	380,117		105,522		117,171		109,734		120,796
Net loss	(198,760)	(349,678)	(652,697)	71,120		(154,108	)	(266,925	)	(285,595	)	(249,618	)
Basic and diluted loss per share**	(0.00)	(0.00)	(0.01)	0.00		(0.00	)	(0.00	)	(0.00	)	(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.

Second Quarter Fiscal Year 2025 Conference Call Details

Date and Time: Tuesday, September 2, 2025, at 11:00 a.m. ET / 8:00 a.m. PT

Call-in Information: Interested parties can access the conference call by dialing [phone] or [phone].

Webcast: Interested parties can access the conference call via a live webcast, which is available via the following link: https://app.webinar.net/Y37NJeR9EQK.

Replay: A teleconference replay of the call will be available until September 9, 2025, at [phone] or [phone], replay access code 2999738. Additionally, a replay of the webcast will be available at https://app.webinar.net/Y37NJeR9EQK for 90 days.

About 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 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.

Company Contacts:

Aurora Spine Corporation

Trent Northcutt
President and Chief Executive Officer
[phone]

Chad Clouse
Chief Financial Officer
[phone]
www.aurora-spine.com

Investor Contact:

Adam Lowensteiner
Lytham Partners
[phone]

Email: [e-mail]