Aurora Spine Q1 sales dip 16.7%: 4 notes

Spinal Tech

Aurora Spine reported a total revenue of $2.96 million in the first quarter of 2023, a 16.7 percent decrease compared to the same period in 2022.

Aurora attributed the decrease to a 22 percent drop in sales volume of its SiLO allograft system in response to a change in reimbursement coding, according to a May 24 company news release.

Here are four highlights of Aurora's performance in Q1:

1. The company's gross margin on total revenues was 52.2 percent in Q1 of 2023 compared to 53.3 percent in Q1 of 2022.

2. Operating expenses were $2.19 million in Q1, $97,000 less than 2022.

3. Aurora Spine's net loss was $663,000, compared to $387,000 in Q1 of 2022.

4. Sales of higher margin products made up 83 percent of sales, an increase of 8 percent year over year. 

"First quarter was a transitional quarter for Aurora, where the industry had to manage certain reimbursement changes that affected our SI joint division," President and CEO Trent Northcutt said in the release. "We also added new sales personnel during this time frame and started to establish new relationships to renew our sales strategy. We believe that these changes and investments will be beneficial to the company later this fiscal year and in the long term."

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