Anteris $(AVR)$ reported FY 2025 net sales of USD 1.9 million (down 29%) and an operating loss of USD 93.9 million (up 20%), with a loss after income tax of USD 94.2 million (up 24%). R&D expense was USD 69.1 million (up 34%) and SG&A expense was USD 26.1 million (down 7%). Net cash used in operating activities was USD 77.8 million (up 27%), and cash, cash equivalents and restricted cash totaled USD 12.6 million at December 31, 2025. For business updates, Anteris said more than 130 patients had been implanted with its DurAVR transcatheter heart valve worldwide as of December 2025, and highlighted initiation of its global pivotal PARADIGM Trial, including first European regulatory approval in Denmark in October 2025 with initial patient enrollment and treatment, and FDA IDE approval in November 2025 with staged authorization to enroll the first 200 patients. The company also reported manufacturing scale-up and quality system buildout progress to support upcoming clinical activities and future ISO 13485 certification. Subsequent to year-end, Anteris completed a 2026 public offering raising USD 230.0 million in gross proceeds and a concurrent Medtronic private placement raising USD 90.0 million in gross proceeds.

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