Anteris reports FY2025 revenue down 29%, net loss widens to $94M; starts PARADIGM trial

Anteris Technologies Global Corp.

2025-FY EPS reported -$2.55 vs consensus -$0.60 ▼ miss (-327.9%)

FY2025 revenue $1.9M (-29% YoY); net loss $94.1M (23% wider); cash used in ops $77.8M.
R&D expenses $69.1M focused on DurAVR THV trial preparation; SG&A $26.1M.
Initiated global PARADIGM pivotal trial for DurAVR THV; FDA IDE approval in Q4 2025.
Raised $320M in early 2026 including Medtronic investment to fund trial and commercialization.
Net tangible assets per share turned negative to ($0.01) from $1.74; all IPO proceeds fully used.

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