Aroa reports a strong cash balance of NZ$50.1 million as at
Upgraded guidance of NZ$62-64 million.[1] , previously advised on 26 October has been maintained, and normalised[2] EBITDA (unaudited) was positive.
Overall Product sales for H1 FY23 were up 44% to NZ$28.8 million compared to H1 FY22 (NZ$20.1 million), and up 20% compared to H2 FY22 (NZ$24.0 million), on a constant currency basis[3].
Product sales of Myriad made a significant contribution, with revenue for the product line growing by 242% on H1 FY22 and 147% on H2 FY22 (on a constant currency basis) to NZ$5.6m million.
An increase in product gross margin of 5% on H2 FY22 at 84%, on a constant currency basis, was also seen.
Managing Director and CEO
It's excellent to see such strong results across the Myriad portfolio, and as our sales force matures and product portfolio broadens, we expect to see momentum build even further.
The collective effort of the team at AROA over the last six months has enabled us to deliver excellent performance in a complex, rapidly changing environment.'
Read the full announcement
[1] Given the dynamic and evolving impact of COVID-19, all forward-looking statements in relation to FY23 performance are subject to there being no material decline in US medical procedure numbers or sustained disruption to AROA's manufacturing or transportation activities and
[2] Normalised EBITDA is non-conforming financial information, as defined by the
[3] Constant currency ('CC') removes the impact of exchange rate movements. This approach is used to assess the
About AROA
Our products are developed from a proprietary AROA ECM technology platform, a novel extracellular matrix biomaterial derived from ovine (sheep) forestomach. Over 5.6 million AROA devices have been applied in treating patients to date.
Founded in 2008,
Website: https://aroabio.com
About Myriad
Myriad Matrix is an extracellular matrix graft, composed of AROA ECM and designed for soft tissue reconstruction and complex wounds. Myriad Morcells is a powder format of Myriad Matrix that easily conforms to optimize contact with irregular wound beds.
About Endoform
Endoform products are unique extracellular matrix products, composed of AROA ECM, for the management of acute and chronic wounds.
About Symphony
Symphony is a new product which has been developed off the strength of AROA ECM. It is applied as a graft and is surgically fixed at the margins. It is designed to support healing during the proliferative phase to reduce time to wound closure, particularly in patients whose healing is severely impaired or compromised due to disease.
About Enivo
This is a new tissue apposition system which AROA is developing, designed to close tissue cavities at a surgical site created by surgical dissection or tissue removal. It is comprised of a specially designed AROA ECM implant that is coupled to an external single-use negative pressure pump. When the product is deployed, the tissue surfaces are drawn together, held in place and tissue fluids are carried by the vacuum to an external fluid collection bag. AROA intends to develop and launch a new class of products utilising this new platform technology.
Contact:
Media
Corporate Communications Manager
M: 64 21 531 043
E: Sarah.tora@aroabio.com
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