Full Press Release Details
Results Announcement
| Name of entity: | Anteris Technologies Global Corp. |
| ARBN: | 677 960 235 |
| Reporting period: | For the year ended December 31, 2024 |
The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("US GAAP") and are denominated in U.S. dollars.
The Company's results for announcement to the market are as follows:
| December 31, 2024 $'000 | December 31, 2023 $'000 | Change $'000 | Change % | ||
| Revenues from ordinary activities | 2,703 | 2,735 | (32) | (1%) | |
| Loss from ordinary activities after tax | (75,967) | (46,764) | (29,203) | 62% | |
| Loss for the period attributable to members | (76,291) | (46,022) | (30,269) | 66% |
Refer to the attached "Anteris Reports 2024 Financial Results and Provides Corporate Update".
Net tangible assets is calculated as net assets (including Right-of-Use assets) less intangible assets. The net tangible asset backing per share was $1.74 and $1.04 as of December 31, 2024 and
December 31, 2023, respectively.
No dividends were proposed, declared, or issued during the year ended December 31, 2024.
The consolidated annual financial statements on which this report is based have been audited by KPMG. The Independent Auditor's opinion is not modified but includes an Emphasis of Matter that the
Company has suffered losses from operations that raise substantial doubt about its ability to continue as a going concern.
Anteris Technologies Global Corp. ("ATGC") was incorporated in Delaware on January 29, 2024. ATGC was formed for the purpose of reorganizing the operations of Anteris Technologies Ltd ("ATL"), an
Australian public company originally registered in Western Australia, Australia and listed on the ASX, into a structure whereby the ultimate parent company would be a Delaware corporation. On December 16, 2024, ATGC received all the issued and
outstanding shares of ATL pursuant to a scheme of arrangement under Australian law between ATL and its shareholders under Part 5.1 of the Corporations Act 2001 (Cth). In accordance with ASC 805 Business Combinations, when ATGC acquired ATL, the transaction was accounted for as a reverse recapitalization. The substance of the transaction was that the pre-transaction shareholders of ATL (the accounting
acquirer) had effectively obtained control of ATGC. Under reverse recapitalization accounting, the consolidated financial statements are issued under the name of the legal parent (being ATGC) but, with the exception of stockholder's equity, the
financial statements represent a continuation of ATL's financial information.
On April 18, 2023, the Group acquired 30% of the shares of v2vmedtech, inc. Since acquisition date, the entity has been treated as a controlled entity for accounting purposes. There have been no
changes in the holding percentage since acquisition date.
On December 13, 2024 ATGC released a prospectus for an initial public offering of 14,800,000 shares of Common Stock to be sold at an initial public offering price of $6.00 per share. The
prospectus included detail of the intended use of the net proceeds being:
There were no material variances in the use of funds during the fourth quarter of 2024. The convertible notes totalling $5.7 million were repaid on December 19, 2024, and the facility was
terminated in February 2025.
During the fourth quarter of 2024, the aggregate amount of payments for director fees, ATL Company secretarial fees and Chief Executive Officer remuneration was $374 thousand.
Additional 4E disclosure requirements and commentary on these results are contained in the Form 10-K Annual Report for the year ended December 31, 2024.