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Aurora Spine
(ASG)
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Rating:48Neutral
Price Target:
C$0.15
▼(-19.47% Downside)
Action:Reiterated
Date:08/29/26
The score is held back primarily by ongoing net losses and signs of recent softening in revenue and free cash flow, despite multi-year operational improvement and positive operating/free cash flow since 2024. Technicals add pressure as the stock trades below key moving averages with negative MACD. Valuation provides little support given the negative P/E and lack of dividend data.
Positive Factors
Improved Cash Generation
Operating and free cash flow have remained positive since 2024, providing internally generated liquidity and a stronger foundation for funding operations. This marks a meaningful improvement from earlier periods and supports resilience, although the durability of that cash generation still requires monitoring.
Negative Factors
Persistent Net Losses
Persistent operating and net losses show that the business has not yet converted its revenue base and improved EBITDA into sustainable profitability. Negative ROE and ongoing losses can erode retained equity over time, constrain financial flexibility, and increase reliance on operational improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Cash Generation
Operating and free cash flow have remained positive since 2024, providing internally generated liquidity and a stronger foundation for funding operations. This marks a meaningful improvement from earlier periods and supports resilience, although the durability of that cash generation still requires monitoring.
Read all positive factors
Aurora Spine (ASG) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$12.10M
Dividend YieldN/A
Average Volume (3M)20.12K
Price to Earnings (P/E)―
Beta (1Y)0.39
Revenue Growth-5.42%
EPS Growth-5.37%
CountryCA
Employees13
SectorGeneral
Sector StrengthN/A
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.02
Shares Outstanding78,092,200
10 Day Avg. Volume29,164
30 Day Avg. Volume20,122
Financial Highlights & Ratios
PEG Ratio0.79
Price to Book (P/B)4.02
Price to Sales (P/S)0.83
P/FCF Ratio36.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Aurora Spine Business Overview & Revenue Model
Company Description
Established in 2013 and headquartered in Toronto, Canada, Aurora Spine Corporation, through its subsidiary Aurora Spine, Inc., specializes in the development and distribution of advanced, minimally invasive spinal fusion systems and devices within...
Aurora Spine Earnings Call Summary
Earnings Call Date:Apr 29, 2025
(Q4-2024)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Neutral
The earnings call highlights significant revenue growth, product success, and gross margin improvements. However, these positives are tempered by increased operating expenses, a fourth-quarter EBITDAC decline, and a sustained net loss. While Aurora's product portfolio shows promise, financial challenges remain.Positive Updates
Revenue Growth
Aurora Spine reported a 21% increase in revenue for fiscal year 2024, reaching $17.56 million compared to $14.52 million in 2023.
Negative Updates
Increased Operating Expenses
Operating expenses increased to $11.438 million for fiscal year 2024, up from $9.89 million in 2023, due to higher training and staff costs.
Read all updates
Q4-2024 Updates
Positive
Negative
Revenue Growth
Aurora Spine reported a 21% increase in revenue for fiscal year 2024, reaching $17.56 million compared to $14.52 million in 2023.
Read all positive updates
Company Guidance
During the Aurora Spine Fourth Quarter and Fiscal Year 2024 Results Conference Call, a comprehensive financial and operational overview was provided. The company reported a 21% increase in revenue for 2024, reaching $17.56 million compared to $14.52 million in 2023. Notably, the SiLO-TFX system saw a remarkable 135% increase in revenue, contributing significantly to this growth. The ZIP series, particularly ZIP-51, experienced a 69% increase in sales. Gross margins improved to 60.5% for the fiscal year, up from 56.5% in 2023, attributed to the focus on proprietary products and better pricing strategies. Operating expenses rose to $11.438 million, driven by increased sales personnel and training costs. EBITDAC for 2024 turned positive at $0.28 million, a significant improvement from a negative $0.31 million in 2023. Net loss for the year reduced to $1.003 million from $1.68 million in 2023. The company ended the quarter with $0.826 million in cash, and management expressed confidence in their capital structure to meet budgetary needs, focusing on profitability and continued growth with new product launches and clinical studies.Aurora Spine Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
52
Neutral
Cash Flow
57
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.38M | 18.37M | 17.56M | 14.52M | 14.88M | 10.54M |
| Gross Profit | 7.27M | 4.51M | 10.63M | 8.21M | 7.81M | 4.83M |
| EBITDA | 236.43K | 753.73K | 179.90K | -446.20K | -469.27K | -1.55M |
| Net Income | -1.21M | ― | -1.00M | -1.68M | -1.50M | -2.36M |
Balance Sheet | ||||||
| Total Assets | 8.92M | 10.39M | 11.67M | 11.99M | 10.12M | 10.56M |
| Cash, Cash Equivalents and Short-Term Investments | 362.04K | 895.08K | 775.62K | 766.83K | 423.40K | 3.17M |
| Total Debt | 2.17M | 3.54M | 3.67M | 3.65M | 2.97M | 2.55M |
| Total Liabilities | 6.10M | 6.58M | 7.28M | 6.69M | 5.81M | 4.99M |
| Stockholders Equity | 2.82M | 3.81M | 4.40M | 5.30M | 4.32M | 5.57M |
Cash Flow | ||||||
| Free Cash Flow | 308.34K | 419.97K | 266.47K | -1.41M | -2.43M | -2.85M |
| Operating Cash Flow | 838.15K | 933.42K | 904.33K | -935.06K | -1.56M | -2.13M |
| Investing Cash Flow | -602.15K | -553.13K | -484.32K | -479.13K | -873.21K | -720.61K |
| Financing Cash Flow | -407.58K | -307.96K | -361.22K | 1.76M | -318.15K | 4.31M |
Aurora Spine Technical Analysis
Negative
0.19
Price Trends
0.21
Negative
0.23
Negative
0.25
Negative
Market Momentum
-0.01
Positive
35.19
Neutral
9.81
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:ASG, the sentiment is Negative. The current price of 0.19 is below the 20-day moving average (MA) of 0.20, below the 50-day MA of 0.21, and below the 200-day MA of 0.25, indicating a bearish trend. The MACD of -0.01 indicates Positive momentum. The RSI at 35.19 is Neutral, neither overbought nor oversold. The STOCH value of 9.81 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:ASG.
Aurora Spine Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | C$45.26M | -2.34 | -303.05% | ― | 35.27% | 58.34% | |
48 Neutral | C$12.10M | -7.04 | -34.32% | ― | -5.42% | -5.37% | |
43 Neutral | C$58.99M | -13.03 | -130.04% | ― | -24.86% | 18.29% | |
43 Neutral | C$18.32M | -4.87 | 78.25% | ― | 89.06% | 37.62% |
* General Sector Average
TSE:ASG
Aurora Spine
0.15
-0.13
-46.43%
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TSE:VPT
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Aurora Spine Corporate Events
Business Operations and StrategyFinancial Disclosures
Aurora Spine Revenue Falls as Sales Transition Weighs, But DEXA-C Demand Surges
Negative
Aug 27, 2026
Aurora Spine reported second-quarter fiscal 2026 revenue of $3.66 million, down 18.7% year over year, as weaker demand in the pain market and lower SI joint product sales outweighed gains in cervical implants and biologics. Gross margin slipped to...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.