Revenue doubles on SImmetry+ acquisition; cash falls 55% as company shifts to debt financing

Filed May 15, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 13, 2025 · ~1 min read

Key Changes

• high

  Revenue jumped 90% YoY to $1.4M driven by SImmetry+ acquisition (August 2025), which added a lateral-access SI Joint fusion system to the product portfolio. Gross margin expanded from 44% to 69% on operating leverage.

  MD&A: Revenue and Gross Margin verify on EDGAR →
• high

  Cash declined 55% YoY from $10.3M to $4.6M. Company shifted from equity financing ($6.3M net in Q1 2025) to convertible-note debt ($3.9M net in Q1 2026), introducing $176K interest expense and derivative liabilities.

  MD&A: Liquidity and Financing verify on EDGAR →
• high

  Going-concern disclosure persists; management states existing cash will not fund operations through the next 12 months. Accumulated deficit grew from $72.4M to $84.8M.

  MD&A: Going Concern verify on EDGAR →