Hello everyone, and thank you all for joining us during the Lytham Partners Spring 2026 investor conference. My name is Adam Lowensteiner, Vice President of Lytham Partners. Today, Trent Northcutt, President, CEO of Aurora Spine, along with Matt Goldstone, Chief Commercial Officer at Aurora, are here joining us. Aurora Spine trades under the ticker symbol of ASAPF on the OTCQX exchange and ASG on the Toronto Venture Exchange. Let's get started. Welcome, Trent and Matt, to the conversation.
Thank you, Adam. Pleasure to be here today. Thanks for having us. This is our forward-looking disclaimer. Please take time to read it and take a look through it. If you have any questions, let us know. The key value creation driver of our proprietary products is going to be the key focus of this presentation, to talk about why these products make an impact and why they're so important. Our proprietary platform consists of the ZIP, the SiLO TFX, the DEXA-C, the Hydra A.E.R.O., the Hydra Systems, and the DEXA-L, along with the entire DEXA technology platform. We started the foundation of this company based upon simplifying the complex.
We wanted to take very complex procedures and simplify the steps, the intersurgical steps, to make sure that the doctors that are handling our equipment, our implants, can safely, effectively, and most importantly, efficiently place these implants in a very minimally invasive approach. The ZIP device was our first screwless procedure that we introduced into the market nearly 13 years ago. Exciting product that we have over 10,000 of these implants implanted. It reduces the operating room time by 36% versus pedicle screws. It's a shorter hospital stay. In fact, it's really driven towards surgery center business. 69% less blood loss, less morbidity for the patient, a smaller incision, faster healing times, and recovery.
We wanted to simplify these steps, this complexity to this procedure by introducing this not only to ortho and neuro, but now we've introduced this to the interventional market, allowing these doctors to conduct a procedure in a safe and effective way. I'll let Matt Goldstone touch on this.
We've seen the evolution of spine care given in the United States, a lot of physicians that previously didn't offer lumbar fusion options have started to introduce that into their treatment algorithm. Due to the less complex and streamlined procedural technique of ZIP, it has offered patients to get better access to care because it's being offered by a broader set of physicians. The ortho-neurosurgeons used to dominate all of lumbar spine care, as we've seen over the last 15 years, the interventional spine physicians have started to increase and now are comparable to six to eight to one of those physicians out in the market. As the treatment algorithm has evolved, so has the referral patterns have evolved, which has really changed the flow of patients through the system.
As they reach these interventional physicians, procedures like this become a great option to really help them with their lumbar spine stenosis and neurogenic claudication.
We've also entered into a multicenter study. The product is FDA approved. In fact, every product we're going to talk about today is FDA cleared with the FDA. This product in particular, the ZIP device, is in a multicenter study with ortho, neuro, and pain to be able to prove the efficacy, the safety, and of course, the value that it creates that patient to have a screwless procedure. In these training sessions that we offered up early on with the ZIP device, we gathered together the top-tiered ortho and neuro and interventional doctors from around the country. In these discussions, we were able to conclude and start this multicenter study, and we're really excited about the study data that we're going to be releasing here very soon into the public offer.
In the labs and in the coordinated events that we came together to discuss the ZIP technology, we began to learn that more approaches for the doctors to look at. Our proprietary products of the SiLO and SiLO TFX. This is a SI joint fusion product that treats the hip bone toward the sacrum bone, the center of your spine, all the way down to the low part of your backside. This was a napkin drawing concept implant and product that we were able to, as you can see here on this chart, get over $8.2 million in revenue. It's a great product. It helps patients. Again, a very simplistic approach, a safe approach.
We took extra steps that were normally part of this procedure, big open incision, very large long procedures to a very small incision, very short period of surgical time. This is really a great procedure for patients that only want to go to a surgery center and want the ability to have their SI joint treated. It's also one of the largest sectors of spines that is growing. It has an estimated $2.5 billion market evaluation. It's a very large opportunity in the company, and we have a series of products that's all underneath the SiLO umbrella, the SiLO, the SiLO TFX, the SiLO-X, and beyond. It's going to be a real great time for Aurora as we take concept drawings all the way to over $8 million in revenue as a company. I'll let Matt talk more about this product.
To echo what Trent has presented here and to really dial down on that simplifying the complex, the SI fusion market was driven initially by a lateral approach. That was three lateral dowels sent across what you can see here, the ilium through into the sacrum. That technique goes right across or right next to the gluteal artery and some neurovascular bundles that have a large risk during the procedure for those patients, as well as post-op discomfort for those individuals. This approach coming in posteriorly intra-articular is much more proceduralized and simplified. What I mean by that is we take a Steinmann pin , we place it in the joint, it's a joint finder working channel, we decorticate, we then implant the bridge and the two screws following the AO principles of fusion, which simplifies it for the physician.
It decreases post-op discomfort for the patient, and provides equal or even superior outcomes for those patients' symptoms. All of that changes the profile of who's offering this procedure due to safety and due to efficacy. As we've seen, the interventional market has jumped two feet in to addressing these patients in their practices, and is a very common indication for patients with low back or buttock pain. Very common, growing quickly, and we think we have designed the sleekest procedural tools to offer this procedure, which really drives the opportunity for the SI market.
With each one of these implants, we found that we could address the market in a meaningful way, stacking the opportunity for Aurora, getting that door opened for Aurora. Also along the way, we started to discover that patients of different age groups, different ethnic groups, different heights, different weight categories, smokers, non-smokers, we started to look deeper and deeper into not just an implant that's going to fixate the joint, but an implant that actually works with the patient's bone density. This is where DEXA was discovered and how DEXA was developed by Aurora. Aurora saw the need and continues to see the need for a customized implant, something that's going to specifically address the patient's bone density. Having low bone density or osteoporosis affects 54 million Americans. That's a very large stat, and it's involved in all of us.
We have family members, we have loved ones that have different bone densities. If you look up to the right-hand corner, you can see that there is a what's your T-score, and there's a plus four all the way to a minus four. In the scoring system, Aurora was able to develop and dial in additive manufacturing to where the implant, this particular implant happens to be for cervical, the actual density of the implant is matched more in line with a patient's potential T-score. The DEXA-C Interbody Cage can match the bone density of the patient, promote bone growth, and provide better implantation and recovery time for the patient. The implant stiffness correlates directly to the bone quality, and it acts and looks like bone. In fact, we call it biomimicking. The DEXA-C tunes its stiffness to match the patient's bone density closely.
This minimizes the risk of subsidence or failed fusion, and it supports osseointegration. The implant has opening porosity with the implant allows you to get total 3D vascularity and growth in between and around the implant. I'll have Matt comment more about this.
As our portfolio treats degenerative spine, each decade of life, whether you're 40, 50, 60, or 70, as you age, your porosity of your bones increases and the bone density decreases. Weight-bearing activity, nutrition, menopause, all of these things lead to lesser bone quality, right? They just become less with age. This is a growing issue as we live longer and as more people are out there trying to live a healthy life, older and older into their lives. This is a need in which hasn't been addressed in any other spine portfolio. They just offer a single density option for all patients, or it becomes a situation where the physicians choose not to treat the patients because they can't address the bone quality.
It either is a riskier situation or a non-treating situation, which this opens up a whole patient population to spine care that didn't have a great option before. Really addressing the bone density is such a critical aspect of preventing subsidence and promoting fusion.
With this, we support the product by introducing the product, the Apollo plate, which is a cervical plate for cervical fusion. As you can see in the lower left-hand corner, there's actually a real X-ray there of a patient that has bone density-driven implant there. You can see it says DHD. It says DHD on the implant on the center of the screen, the green implant. This tells the doctors that they know exactly which implant that had been used on this particular patient. It's a salt and pepper, it's a ketchup mustard, it's a supporting of another system. The Apollo plate supports the DEXA implant. The DEXA implant supports the Apollo implant. We also introduced our first lumbar segment. The lumbar is the exact same density-driven technology, patient-matched, patients who have low bone density issues or severe bone osteoporosis or osteopenia.
This is the first time an implant can actually match and correlate to the bone quality. It acts and looks like bone. It tunes its stiffness to match the patient's bone density. It minimizes the risk of subsidence, and it supports osseointegration. This implant has a porous structure and allows 3D integration. Again, we've simplified the complex. It makes the doctor see the color of the implant, knowing the T-score, knowing that the implants correlate directly with that patient's score. Couldn't be more excited about this. The next slide I'm going to have Matt talk more about. We launched a new biologic offering which supports all of our products. Every product that we introduce or have had legacy business with needs the support of osteobiologics. Bone is fusion and fusion is bone.
Having our own proprietary product line that we are able to private label through a procurement center, it's AATB accredited. It's a very high standard in bone tissue. This allows our sales force and our company to get better margins and also offer a complete portfolio, and I'll have Matt talk more about this exciting new product.
In 2025, we launched our own biologics division. That division can address individual facilities, individual cases, and individual physicians. We have now started partnering with physicians and facilities across this country in order to pair a biologics with every one of our products, additionally be able to support biologics for those facilities across the board. This allows us to be better partners with our facilities in order to really offer a full portfolio. We focus on procedural solutions, meaning just like Trent was talking about, the DEXA interbody with the plate, it's a full procedure, now we're also adding the biologics to that as well. We'll be able to have the full procedural share of that physician's procedure.
As we further explain our technologies, we show you in this continuum of care how important it is that the patient follows from the meds to the injections to the ablations into the center area right here and goes towards lami decompressions, motion preservation devices, or indeed open lumbar fusion. This is a degenerative spine cascade we call the continuum of care, how the patient falls into each category. Each one of our technologies that are part of this continuum of care are also strongly supported by our IP portfolio. Our IP portfolio on each one of our product offerings is met. We get freedom to operate letters. We work very diligently on how the product is developed, but also patent protected. I'm going to move into our financial section to give you some snapshot on this.
The idea is that our income statement and our balance sheet is starting to tighten up, and we're getting really great results, as you can see in the revenue numbers. We had our first $5 million quarter, which showed growth quarter-over-quarter. Excited about our progress as the company continues to forge forward. Our gross profit margin showed an increase from 6.24. We saw that adjusted EBITDA, where we're able to really maximize our dollars and maximize our spending, focusing more on the sales growth of the company. Here's the cash balance sheet as of 2025, 12/31.
For those who want to understand the capitalization summary and the stockholders in the company, this is our stock price, our 52-week range, our shares outstanding, our market capitalization, the warrants and the dates of the warrants expiring, the options, fully diluted shares counted and assumed by all warrants and options of 88.9 million, and our key shareholders, which is 25.2% all insiders, board and directors of management. David Rosenkrantz, who's our Chairman and original first investor in, 16.1%. Myself, Trent Northcutt, at 6.9%, and other insiders 2.2%. Milestones and objectives. Proprietary products that really drive the revenue growth profitability.
We talked about the ZIP, the SiLO systems, our DEXA, our Hydra Systems, our two new product extensions that we have for the second half of 2026 that we'll share more in conference calls that you schedule with us. Expansion of the internal sales team. Matt's really focused on adding more headcounts and more geography that needs to be covered in areas and MSAs across the country. Continue to build off of our multi-center studies by expanding onto those studies, putting out more clinical success, clinical data that shows that Aurora's products really stand out. Of course, we're improving our capital structure and investor communications. We look forward to meeting with you so we can share more of this good news from you at Aurora. We appreciate your time today. Thank you for sharing our story.
Thank you, Trent and Matt, and thank you for everyone for watching. If you have any questions or would like to schedule a meeting with Aurora Spine, please send me an email at lowensteiner@lythampartners.com. We have additional presentations coming up next, so stick around for more. Thank you, everyone, for listening. Have a great day.