Anteris Technologies Global Corp. (AVR) AI Stock Analysis

• Market Cap: $268.20M
• Dividend Yield: N/A
• Average Volume (3M): 151.40K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.95
• Revenue Growth: -21.10%
• EPS Growth: -18.32%
• Country: US
• Employees: 136
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): N/A
• Shares Outstanding: 41,197,570
• 10 Day Avg. Volume: 215,658
• 30 Day Avg. Volume: 151,395
• PEG Ratio: -0.20
• Price to Book (P/B): -1.27K
• Price to Sales (P/S): 61.50
• P/FCF Ratio: -1.48
• Enterprise Value/Market Cap: 0.85
• Enterprise Value/Revenue: 119.81
• Enterprise Value/Gross Profit: 170.53
• Enterprise Value/Ebitda: -2.49
• 1Y Price Target: $16.00
• Price Target Upside: 145.78% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 56 Neutral
• Price Target: $6.50 ▼(-0.15% Downside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is held back primarily by weak financial performance (shrinking revenue, very large losses, negative equity, and heavy cash burn). Offsetting factors include improving technical momentum (price above key moving averages with positive MACD) and a major $320M financing tied to the PARADIGM trial and Medtronic alignment, which supports execution and near-term funding.

Positive Factors

Strategic financing & Medtronic alignment

The $320M gross raise, including a Medtronic strategic equity stake, materially extends runway to execute the PARADIGM pivotal trial, expand manufacturing, and support commercialization. The partnership also brings industry credibility and potential commercial collaboration that strengthens execution capacity over the medium term.

Pivotal randomized PARADIGM trial

Running a large randomized head‑to‑head pivotal study creates a durable clinical evidence pathway that can influence regulatory outcomes, reimbursement decisions, and physician adoption. Positive RCT results would materially improve competitive positioning and long‑term commercial prospects in structural heart markets.

Improved product-level gross margins

A ~70% gross margin indicates favorable unit economics for DurAVR and suggests manufacturing and product cost advantages at the device level. If scaled with growing volume, this margin profile can support sustainable operating leverage and profitability once commercial adoption accelerates.

Negative Factors

Declining revenue trend

Sustained revenue decline erodes the company’s ability to absorb fixed costs and demonstrates limited commercial traction to date. Without meaningful revenue inflection from successful trial outcomes and commercialization, operating losses will remain structurally large and constrain organic growth funding.

Severe cash burn and negative FCF

Consistent, large negative operating and free cash flow drives reliance on external capital to fund trials, manufacturing scale-up and operations. This sustained cash burn increases execution risk if capital markets tighten, and raises the likelihood of future dilutive financings that affect long‑term shareholder value.

Balance sheet deterioration and dilution risk

Negative equity signals weakened financial flexibility and higher recapitalization risk, constraining strategic options and borrowing capacity. While the Medtronic investment provides capital, attendant investor rights and participation terms can limit future governance and capital‑raising freedom, a structural governance constraint.

Anteris Technologies Global Corp. Business Overview & Revenue Model

Company Description

Anteris Technologies Global Corp., a structural heart company, discovers, develops, and commercializes medical devices to enhance the quality of life for patients with aortic stenosis. Its lead product candidate is the DurAVR transcatheter heart valve system, a novel transcatheter aortic valve for the treatment of aortic stenosis that is shaped to mimic the performance of a healthy human aortic valve. The company also devlops ADAPT anti-calcification tissue, an anti-calcification preparation that transforms xenograft tissue into durable bioscaffolds that are used to mimic human tissue for surgical repair in multiple settings, including aortic valve replacement; and ComASUR delivery system, a physician-developed balloon expandable delivery system that contains a reinforced steerable catheter for a precise deflection through the heart anatomy in a controlled manner to avoid damage to the aorta. Anteris Technologies Global Corp. was incorporated in 1999 and is based in Toowong, Australia.

How the Company Makes Money

Anteris Technologies generates revenue primarily through the commercialization of its medical devices and therapeutic products. The company's revenue model includes direct sales of its products to healthcare providers and institutions, as well as potential licensing agreements for its proprietary technologies. Strategic partnerships with healthcare organizations and research institutions also play a significant role in its earnings, enabling Anteris to expand its market reach and drive innovation. Additionally, the company may benefit from government grants and funding aimed at supporting medical research and development, which could further contribute to its financial growth.

Anteris Technologies Global Corp. Financial Statement Overview

Summary

Financials are highly pressured: revenue has declined meaningfully over time, losses are extremely large, equity turned slightly negative in 2025 (higher solvency/dilution risk), and operating/free cash flow are consistently and heavily negative with a very large 2025 outflow.

Income Statement

Revenue has trended down meaningfully over time (2025: ~$1.9M vs. 2020: ~$5.5M), with negative growth in most recent years. While gross margin improved sharply in 2025 (about 70%), profitability remains very weak: the company reported extremely large net losses in 2024–2025 (net margin deeply negative), suggesting a cost structure far in excess of the current revenue base. Overall, margins show volatility and the business has not demonstrated sustainable earnings power yet.

Balance Sheet

The balance sheet deteriorated significantly in 2025, with stockholders’ equity turning slightly negative, which is a key red flag for financial flexibility. Although total debt appears low in absolute terms in 2025, negative equity makes leverage look structurally strained and raises recapitalization/dilution risk. Prior years showed positive equity and modest debt levels, but the latest period indicates weakened solvency and higher balance-sheet risk.

Cash Flow

Cash generation is a major concern: operating cash flow and free cash flow are consistently and heavily negative across all years, with a particularly large outflow in 2025 (about -$77.8M). Free cash flow trends have generally worsened versus earlier periods, indicating rising cash burn rather than improving operating self-funding. This profile implies continued dependence on external financing to sustain operations.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.91M	2.70M	2.73M	3.20M	5.83M
Gross Profit	1.34M	1.27M	876.80K	298.38K	1.91M
EBITDA	-92.49M	-76.86M	-45.54M	-29.14M	-15.50M
Net Income	-94.22M	-76.29M	-46.02M	-30.56M	-17.17M
Balance Sheet
Total Assets	23.00M	80.70M	30.53M	15.99M	21.43M
Cash, Cash Equivalents and Short-Term Investments	12.58M	70.46M	21.03M	9.29M	15.46M
Total Debt	2.28M	1.40M	1.60M	952.79K	4.14M
Total Liabilities	23.25M	18.02M	11.63M	6.95M	10.91M
Stockholders Equity	-93.00K	62.76M	19.30M	9.03M	10.52M
Cash Flow
Free Cash Flow	-79.76M	-63.51M	-37.03M	-31.08M	-15.02M
Operating Cash Flow	-77.80M	-61.24M	-34.63M	-29.42M	-14.44M
Investing Cash Flow	-596.00K	-2.28M	-2.58M	-992.57K	-886.07K
Financing Cash Flow	20.55M	112.83M	49.34M	23.27M	27.42M

Anteris Technologies Global Corp. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 6.51
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AVR, the sentiment is Positive. The current price of 6.51 is above the 20-day moving average (MA) of 5.86, above the 50-day MA of 5.53, and above the 200-day MA of 4.53, indicating a bullish trend. The MACD of 0.21 indicates Negative momentum. The RSI at 66.92 is Neutral, neither overbought nor oversold. The STOCH value of 81.56 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AVR.

Anteris Technologies Global Corp. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ANIK	60 Neutral	$207.09M	-18.92	-8.73%	―	-31.29%	65.68%
APYX	60 Neutral	$134.17M	-8.97	-172.18%	―	-1.32%	55.62%
RPID	57 Neutral	$191.92M	-4.34	-68.83%	―	16.63%	10.43%
AVR	56 Neutral	$268.20M	-2.55	-2462.70%	―	-21.10%	-18.32%
INGN	53 Neutral	$165.61M	-7.12	-13.27%	―	4.68%	55.37%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
TMCI	46 Neutral	$118.52M	-1.99	-51.63%	―	7.90%	19.92%

Anteris Technologies Global Corp. Corporate Events

Anteris Technologies Secures $320 Million for PARADIGM Trial

On January 22, 2026, Anteris Technologies Global Corp. and Medtronic announced that Anteris had completed a $90 million strategic equity investment from Medtronic, immediately following an underwritten offering of common stock, for total gross proceeds of $320 million. The capital raise is intended to support execution of Anteris’ global pivotal PARADIGM trial and advance the company toward commercialization of its DurAVR® Transcatheter Heart Valve, reinforcing a strategic alignment between the two companies in reshaping the transcatheter aortic valve replacement market. The PARADIGM Trial, which began enrolling and implanting its first patients in the fourth quarter of 2025, is a head‑to‑head, prospective randomized controlled study of about 1,000 patients comparing DurAVR® to existing commercial TAVR valves on key outcomes including mortality, stroke and cardiovascular hospitalization at one year, positioning Anteris to generate pivotal clinical evidence for its technology and potentially strengthen its competitive position in structural heart therapies.

The most recent analyst rating on (AVR) stock is a Hold with a $6.00 price target. To see the full list of analyst forecasts on Anteris Technologies Global Corp. stock, see the AVR Stock Forecast page.

Anteris Technologies Announces Major Equity Offering and Medtronic Deal

On January 20, 2026, Anteris Technologies Global Corp. agreed to an underwritten public offering of 34,782,609 common shares at $5.75 per share and granted underwriters a 30‑day option for an additional 5,217,391 shares, which was fully exercised, with the offering expected to close on January 22, 2026. In parallel, the company entered into a private placement with Covidien Group S.à r.l., a Medtronic subsidiary, for 15,652,173 common shares at the same price, bringing total expected gross proceeds from the offering and private placement to about $320 million to fund the PARADIGM global pivotal trial of its DurAVR transcatheter heart valve, expand manufacturing, support v2vmedtech R&D, and bolster working capital. The transactions embed lock-up agreements for executives and directors, and grant Medtronic’s subsidiary registration and investor rights, including participation rights in future equity issuances, transfer restrictions, standstill and voting commitments, a non-voting board observer seat, and a structured right to negotiate on certain future acquisition proposals, deepening a strategic alignment with a major industry player while influencing Anteris’s future governance and capital-raising flexibility.

The most recent analyst rating on (AVR) stock is a Hold with a $6.00 price target. To see the full list of analyst forecasts on Anteris Technologies Global Corp. stock, see the AVR Stock Forecast page.

Stephen Denaro Resigns from Anteris Board

On December 13, 2025, Stephen Denaro resigned from the Board of Directors of Anteris Technologies Global Corp. and as a Class II director, effective immediately. His resignation was not due to any disagreements with the company, and he will continue to serve as the corporate secretary of Anteris Technologies Pty Ltd and as a member of the Board of Directors of the company’s Australian subsidiaries.

The most recent analyst rating on (AVR) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Anteris Technologies Global Corp. stock, see the AVR Stock Forecast page.

Anteris Technologies Holds Annual Stockholders Meeting

On December 3, 2025, Anteris Technologies Global Corp. conducted its Annual Meeting of stockholders, where several key proposals were voted on. These included the election of John Seaberg and Gregory Moss as directors, the appointment of KPMG as the independent auditor for 2025, and the approval of various grants of restricted stock units (RSUs) to key executives in connection with the company’s U.S. initial public offering and annual meeting. Additionally, amendments to the company’s Employee Incentive Plan and previous incentive plans were approved, reflecting strategic adjustments to enhance executive compensation and corporate governance.

The most recent analyst rating on (AVR) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Anteris Technologies Global Corp. stock, see the AVR Stock Forecast page.

Anteris Technologies Ends Agreement with 4C Medical

On November 26, 2025, Anteris Technologies Global Corp. announced it would not renew its Supply and License Agreement with 4C Medical Technologies, Inc., which involved the supply of ADAPT® tissue for medical devices. This decision, effective June 1, 2026, will not incur early termination penalties and does not materially impact the company’s financial results.

The most recent analyst rating on (AVR) stock is a Hold with a $4.00 price target. To see the full list of analyst forecasts on Anteris Technologies Global Corp. stock, see the AVR Stock Forecast page.