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AOTI (AOTI) investor relations material
AOTI H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 20.9% year-on-year revenue growth to $31.8m in H1 2025, led by Medicaid and VA segments, despite challenging US healthcare market conditions and regulatory headwinds.
Established topical oxygen as a new category in chronic wound care, with strong clinical validation and market leadership.
Secured key validation milestones: California Medicaid Provider ID, Germany G-BA, and UK NICE recommendations, supporting future reimbursement and commercial opportunities.
Operational adjustments and cost containment measures implemented to address US government efficiency initiatives and BBB Act impacts.
Focused on value-based care and durable wound healing, targeting high-cost chronic conditions like diabetic foot ulcers.
Financial highlights
Revenues increased by 20.9% to $31.8m in H1 2025, with Medicaid up 57.1% (notably New York), VA up 2.4%, and other segments up 0.7%.
Adjusted EBITDA declined 9.5% to $3.1m (margin 9.6%), impacted by higher operating expenses and investments for growth.
Net profit of $0.2m in H1 2025, a turnaround from a $3.9m loss in H1 2024.
Gross margin improved to 87.7% (up from 87.3%).
Operating cash outflow was negative $4.7m, mainly due to increased Arizona debtors and delayed Medicaid payments.
Outlook and guidance
On track to deliver revised FY25 guidance: revenue growth in the mid-teens and low double-digit adjusted EBITDA margin.
Trading in July and August consistent with guidance; growth trajectory expected to improve as headwinds subside.
Expecting margin expansion to 20–30% EBITDA in the longer term as operating leverage improves.
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