Aurora Spine has announced its financial results for the third quarter of 2023, seeing a 7.7% growth in sales from the same quarter last year.
Aurora did $3.9 million in sales in the third quarter, up from $3.6 million last year. Its gross margin percentage also grew to 59.7%, up from 53.2% last year, according to a Nov. 14 press release.
Aurora also saw an increase in SI joint product sales, with sales in 2023 accounting for 24.8% of total sales, compared to 20.4% last year. SiLO TFX sales also saw a 51% increase quarter over quarter.
The company also expanded its team in the third quarter, adding two new sales associates with a focus on the Southeast and Southwest. The company plans to hire two more sales associates in the fourth quarter.
The company's total revenue increased by 8.2% from the same quarter last year, reaching $3.95 million.
Aurora attributes the increase to gains with pain physicians and radiologists, offset by decreases in its orthopedic and neuro businesses.
The company faced lower sales of lumbar screws, cervical cages and cervical plates, which it attributes to delays in securing cervical plate toolsets and inventory from its European supplier.