Full Press Release Details
Announces Second Quarter 2025 Financial
Results and Provides Business Update
Texas, August 12, 2025 (GLOBE NEWSWIRE) - Aspira Women's Health Inc. ("Aspira") (OTCQB: AWHL), an AI enhanced
bio-analytics based women's health company focused on delivering leading noninvasive gynecologic disease diagnostic and disease
management tools, announced today its results of operations for the three and six months ended June 30, 2025. The Company also reported
early progress under its new leadership team.
reported total product revenue of $2.404 million in the second quarter of 2025 as compared to $2.423 million in the second quarter of
2024. Reported average unit prices ("AUP") grew 12% year over year for the commercial product portfolio, which is comprised
of non-invasive Ovarian cancer risk assessment diagnostics marketed as Ova1Plus and OvaWatch . The AUP for Ova1Plus increased
11% year over year, while OvaWatch, still in the earlier stages of market adoption, increased AUPs by 16% year over year.
revenue remained stable despite a very significant reset of Aspira's business model and market strategies beginning in the first
quarter of 2025, with continuing substantial changes well into the second quarter. Through this transformation of our strategy,
commercial model, and resources, Aspira is heavily focusing on relationships with leading large scale health care systems, as well as
Integrated Delivery Networks ("IDNs"). The Company's Directors and Management believe this will sharply improve the
Company's efficiency, operating performance, and long-term profitability. Notably, the Company's specialist field sales team
delivered these second quarter results with a team of 7 as compared to a team of 19 in the same period of 2024.
financial highlights for the six months ended June 30, 2025 are summarized below:
top priority in the second quarter of 2025 was to continue driving the commercial team's efficiencies, to further reduce operating
expenses and outstanding liabilities, and to strengthen Aspira's overall financial position" commented Mike Buhle, who was
appointed Chief Executive Officer of Aspira in January 2025. He continued, "Through June 30, 2025, we delivered notable gains in
sales productivity and increase our gross profit margin by 8.5%, compared to the same period last year. We remain energized by the strategic
cost efficiencies we are implementing across our operating model."
parallel with enhancing operational performance, we are aggressively working on achieving our research and development timeline for ENDOInform .
We remain committed to completing our R&D milestones and expect to provide material updates on this project by the end of 2025,"
concluded Mr. Buhle.
Board of Directors is excited to see the new strategy and operating initiatives take hold. We believe the Company is entering entirely
unprecedented ground in advancing the Company's key women's health diagnostic tools in both ovarian cancer and endometriosis,"
commented Jack Fraser, Chairman of the Board of Directors.
following table summarizes the key financial metrics of the three and six months ended June 30, 2025 and 2024.
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Total Revenue | $ | 2,404 | $ | 2,423 | $ | 4,683 | $ | 4,576 | ||||||||
| Gross Margin | 63.8 | % | 58.6 | % | 66.1 | % | 57.6 | % | ||||||||
| Total OvaSuite SM Volume | 5,728 | 6,471 | 11,407 | 12,300 | ||||||||||||
| Total AUP | $ | 420 | $ | 374 | $ | 411 | $ | 372 |
Aspira Women's Health Inc.
Women's Health Inc. is dedicated to the discovery, development, and commercialization of noninvasive, AI-powered tests to aid in
the diagnosis of gynecologic diseases. OvaWatch and Ova1Plus are offered to clinicians as OvaSuite. Together, they
provide the only comprehensive portfolio of blood tests to aid in the detection of ovarian cancer risk for the 1.2+ million American
women diagnosed with an adnexal mass each year.
provides a negative predictive value of 99% and is used to assess ovarian cancer risk for women where initial clinical assessment indicates
the mass is indeterminate or benign, and thus surgery may be premature or unnecessary. Ova1Plus is a reflex process of two FDA-cleared
tests, Ova1 and Overa , to assess the risk of ovarian malignancy in women with an adnexal mass planned for surgery.
in-development test pipeline will expand our ovarian cancer portfolio and address the tremendous need for non-invasive diagnostics for
endometriosis, a debilitating disease that impacts millions of women worldwide. In ovarian cancer, we intend to combine microRNA and
protein biomarkers with patient data to further enhance the sensitivity and specificity of our current tests. In endometriosis, we have
developed the first-ever non-invasive test designed to identify endometriomas, one of the most commonly occurring forms of severe endometriosis.
Through our ongoing endometriosis development program, we are combining microRNA and protein biomarkers with patient data, with the intent
of identifying all endometriosis independent of disease location or severity.
press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking
statements involve a number of risks and uncertainties. Such forward-looking statements include statements regarding, among other things,
the timing and completion of any products in the development pipeline and other statements that are predictive in nature, and whether
the marketing of the OvaSuite portfolio will prove successful. Actual results could differ materially from those discussed due to known
and unknown risks, uncertainties, and other factors. These forward-looking statements generally can be identified by the use of words
such as "designed to," "expect," "plan," "anticipate," "could," "may,"
"intend," "will," "continue," "future," and other words of similar meaning and the use
of future dates. These and additional risks and uncertainties are described more fully in the Company's filings with the Securities
and Exchange Commission (SEC), including those factors identified as "Risk Factors" in our most recent Annual Report on Form
10-K for the fiscal year ended December 31, 2024, and subsequent Quarterly Reports on Form 10-Q. If any of these risks materialize or
our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements.
There may be additional risks that Aspira presently does not know, or that Aspira currently believes are immaterial, that could also
cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect
Aspira's expectations, plans, or forecasts of future events and views as of the date of this press release. Subsequent events and
developments may cause the Company's assessments to change. However, while Aspira may elect to update these forward-looking statements
at some point in the future, Aspira expressly disclaims any obligation to do so, except as required by law. These forward-looking statements
should not be relied upon as representing Aspira's assessments of any date after the date of this press release. Accordingly, undue
reliance should not be placed upon the forward-looking statements.
Consolidated Balance Sheets (unaudited)
in Thousands, Except Share and Par Value Amounts)
| June 30, | December 31, | |||||||
| 2025 | 2024 | |||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 1,545 | $ | 1,769 | ||||
| Accounts receivable, net of reserves of $0 | 1,278 | 990 | ||||||
| Prepaid expenses and other current assets | 590 | 1,098 | ||||||
| Inventories | 273 | 326 | ||||||
| Total current assets | 3,686 | 4,183 | ||||||
| Property and equipment, net | 44 | 69 | ||||||
| Right-of-use assets | 1,077 | 1,194 | ||||||
| Other assets | 127 | 45 | ||||||
| Total assets | $ | 4,934 | $ | 5,491 | ||||
| Liabilities and Stockholders' Deficit | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 1,743 | $ | 2,173 | ||||
| Accrued liabilities | 1,829 | 2,445 | ||||||
| Current portion of long-term debt | 232 | 229 | ||||||
| Short-term debt | 154 | 614 | ||||||
| Current maturities of lease liabilities | 140 | 7 | ||||||
| Total current liabilities | 4,098 | 5,468 | ||||||
| Non-current liabilities: | ||||||||
| Long-term debt | 1,160 | 1,278 | ||||||
| Non-current maturities of lease liabilities | 1,121 | 1,248 | ||||||
| Warrant liabilities | 1,240 | 60 | ||||||
| Total liabilities | 7,619 | 8,054 | ||||||
| Commitments and contingencies | - | - | ||||||
| Stockholders' deficit: | ||||||||
| Common stock, par value $0.001 per share, 200,000,000 and 200,000,000 shares authorized at June 30, 2025 and December 31, 2024, respectively; 35,637,325 and 17,407,120 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively | 36 | 17 | ||||||
| Additional paid-in capital | 533,195 | 528,817 | ||||||
| Accumulated deficit | (535,916 | ) | (531,397 | ) | ||||
| Total stockholders' deficit | (2,685 | ) | (2,563 | ) | ||||
| Total liabilities and stockholders' deficit | $ | 4,934 | $ | 5,491 |
Consolidated Statements of Operations (unaudited)
in Thousands, Except Share and Par Value Amounts)
| Three Months Ended | Six Months Ended | |||||||||||||||
| June 30, | June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenue: | ||||||||||||||||
| Product | $ | 2,404 | $ | 2,423 | $ | 4,683 | $ | 4,576 | ||||||||
| Total revenue | 2,404 | 2,423 | 4,683 | 4,576 | ||||||||||||
| Cost of revenue: | ||||||||||||||||
| Product | 870 | 1,002 | 1,589 | 1,941 | ||||||||||||
| Total cost of revenue | 870 | 1,002 | 1,589 | 1,941 | ||||||||||||
| Gross profit | 1,534 | 1,421 | 3,094 | 2,635 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 704 | 952 | 1,677 | 1,858 | ||||||||||||
| Sales and marketing | 679 | 2,137 | 1,765 | 4,026 | ||||||||||||
| General and administrative | 1,961 | 2,725 | 4,702 | 5,854 | ||||||||||||
| Total operating expenses | 3,344 | 5,814 | 8,144 | 11,738 | ||||||||||||
| Loss from operations | (1,810 | ) | (4,393 | ) | (5,050 | ) | (9,103 | ) | ||||||||
| Other (expense) income, net: | ||||||||||||||||
| Change in fair value of warrant liabilities | (624 | ) | 889 | 297 | 1,140 | |||||||||||
| Change in fair value of convertible notes | - | - | 170 | - | ||||||||||||
| Loss upon issuance of Convertible Notes carried at fair value | - | - | (1,198 | ) | - | |||||||||||
| Interest expense, net | (13 | ) | (10 | ) | (27 | ) | (15 | ) | ||||||||
| Other (expense) income, net | (219 | ) | (16 | ) | 1,289 | (181 | ) | |||||||||
| Total other (expense) income, net | (856 | ) | 863 | 531 | 944 | |||||||||||
| Net loss | $ | (2,666 | ) | $ | (3,530 | ) | $ | (4,519 | ) | $ | (8,159 | ) | ||||
| Net loss per share - basic and diluted | $ | (0.07 | ) | $ | (0.28 | ) | $ | (0.16 | ) | $ | (0.67 | ) | ||||
| Weighted average common shares used to compute basic and diluted net loss per common share | 35,564,032 | 12,518,725 | 28,579,132 | 12,181,481 |