Six notes:
1. For the first quarter, Aurora Spine posted $2.3 million in revenue and a net loss of $386,743.
2. The company attributed the improved margins to the shift in sales from third-party lower margin products to higher margin proprietary products.
3. January sales were particularly poor, but Aurora Spine recorded “significant rising sales” in February and March, the company said in a May 27 news release.
4. In the first quarter, the company launched its sacroiliac joint fusion system, a market that President and CEO Trent Northcutt said he is particularly excited about.
5. Aurora Spine received a second Paycheck Protection Program loan of $350,140, which it said it will use to support payroll.
6. The company did not provide full-year projections but expects revenue to continue to increase through 2021 as barriers to elective surgery continue to be removed.
