AVR

Company Overview — What Does Anteris Technologies Global Corp. Do?

We are a structural heart company committed to discovering, developing and commercializing innovative medical devices designed to improve the quality of life for patients with aortic stenosis. Our lead product, the DurAVR® transcatheter heart valve (“THV”) system, represents a unique product opportunity in a new THV class of single-piece heart valves, for the treatment of aortic stenosis. Our DurAVR® THV system consists of a single-piece, biomimetic valve made with our proprietary ADAPT® tissue-enhancing technology and deployed with our ComASUR® balloon-expandable delivery system. ADAPT® is our proprietary anti-calcification tissue shaping technology that is designed to reengineer xenograft tissue into a pure, single-piece collagen bioscaffold. Our proprietary ADAPT® tissue has been clinically demonstrated to be calcium free for up to 10 years post-procedure, according to Performance of the ADAPT-Treated CardioCel® Scaffold in Pediatric Patients With Congenital Cardiac Anomalies: Medium to Long-Term Outcomes, published by William Neethling et. al., and has been distributed for use in over 55,000 patients globally in other indications. Our ComASUR® balloon-expandable delivery system, which was developed in consultation with physicians, is designed to provide precise alignment with the heart’s native commissures to achieve accurate placement of the DurAVR® THV system. We clinically developed our DurAVR® THV system over several years with significant physician input with the goal of addressing hemodynamic limitations of the current standard-of-care products. To date, a total of 73 patients have been treated with the DurAVR® THV system across the United States, Canada and Europe. In November 2021, we commenced our first-in-human (“FIH”) study at the Tbilisi Heart and Vascular Clinic in Tbilisi, Georgia. Aortic valve stenosis is one of the most common and serious valvular heart diseases. It is fatal in approximately 50% of patients if left untreated after two years, and no pharmacotherapy is available to treat this disease. Aortic stenosis causes a narrowing of the heart’s aortic valve, which reduces or blocks the amount of blood flowing from the heart to the body’s largest artery, the aorta, and from there to the rest of the body. Minimally-invasive transcatheter aortic valve replacement (“TAVR”), which the U.S. Food and Drug Administration (the “FDA”) initially approved in 2011 for high surgical risk patients, has emerged as an alternative to open-heart surgery. In 2019, the FDA also approved TAVR for use in low-risk surgical patients. These low-risk surgical patients are often younger persons within the geriatric population that require heart valves with longer durability and pre-disease hemodynamics for an improved quality of life. More generally, patients with aortic valve stenosis are now being diagnosed at a younger age. While previous generations of TAVRs were designed for older, high risk, less-active patients, our DurAVR® THV system is designed to be a solution for all patients, including both older, less-active patients and younger patients. DurAVR® THV is a single-piece valve with a novel biomimetic design that aims to replicate the normal blood flow of a healthy human aortic valve as compared to traditional three-piece aortic valves. In our FIH study, we have observed promising results in relation to hemodynamics, laminar flow and exercise capacity. In addition, our DurAVR® THV system has been developed with the aim to increase durability and last longer than traditional three-piece designs through the use of our ADAPT® anti-calcification tissue including a molded single piece of tissue designed to mimic the performance of a pre-disease human aortic valve, which we believe can result in improved hemodynamics as compared to traditional three-piece designs. These designs and features cumulatively aim to provide a better quality of life as compared to the current standard of care associated with traditional three-piece designs. We intend to test these features in the randomized global pivotal study (the “Pivotal Trial”) against commercially approved TAVR devices. The design and scope of the Pivotal Trial will be finalized following completion of our submission to the FDA and receipt of feedback from the FDA. The purpose of the Pivotal Trial will be to demonstrate non-inferiority of the DurAVR® THV system compared with commercially available TAVR systems for treatment of subjects with severe calcific aortic stenosis. We anticipate that the design of the Pivotal Trial will be a prospective, randomized, controlled multicenter, international study wherein subjects will be randomized to receive either TAVR using the DurAVR® THV system or TAVR using any commercially available and approved THV from competitors. We anticipate that the subjects will include a broad array of risk profiles. We anticipate that subjects with a failed surgical bioprosthesis in need of a valve-in-valve (“ViV”) TAVR will be enrolled in a separate parallel registry. In November 2022, we received approval from the FDA to commence an early feasibility study (“EFS”) to treat 15 patients with severe aortic stenosis using the DurAVR® THV system in up to seven heart valve centers across the United States building on data obtained in the FIH study. The EFS has now completed enrollment of 15 patients. In addition, the FDA determined on March 24, 2023 that approval of an investigational device exemption (“IDE”) supplement is not required to manufacture the DurAVR® valve for investigational use in clinical trials at our facility in a suburb of Minneapolis, Minnesota. We are currently planning to submit an IDE for the DurAVR® THV system Pivotal Trial to the FDA by Q1 of 2025. If we obtain approval from the FDA, we intend to perform site activation and seek Institutional Review Board (“IRB”) approval for commencement of the study at each site. Subject to the foregoing, we anticipate enrollment to begin in the third quarter of 2025. Such a trial would be designed to provide the primary clinical evidence on which the FDA could base a decision for Pre-Market Approval that is required for commercialization of the DurAVR® THV system in the United States. We are a development stage company and have incurred net losses in each year since inception; however, we believe that we have significant growth potential in a large, underpenetrated and growing market. Since the inception of the TAVR procedure, the annual volume of TAVR procedures in the United States has increased significantly year-over-year, with an estimated 73,000 patients having undergone a TAVR procedure in the United States in 2019 according to the STS/ACC TVT Registry (the “TVT Registry”). According to FMI, the total global market opportunity for TAVR in relation to severe aortic stenosis and in relation to ViV procedures is expected to reach $9.9 billion and $2.5 billion, respectively, in 2028. The key specific markets that our Company is initially targeting are North America and Europe due to these markets accounting for the majority of the above global opportunity. FMI indicated that the North American and European markets averaged 53% and 38% of the global market share, respectively, during the period 2016 to 2023. FMI forecasts that the market opportunity in relation to severe aortic stenosis for North America and Europe will reach $5.5 billion and $3.7 billion, respectively, in 2028; and the market opportunity in relation to ViV procedures is forecast to reach $1.5 billion and $0.8 billion, respectively, in 2028. To calculate these future market values, FMI has relied on actual data from 2023 collated from a variety of published sources and key medical experts and applied a projected Compound Annual Growth Rate (“CAGR”) of 14.9% for the global market, 16.2% for the North American market, and 14.0% for the European market. A non-exhaustive list of factors that may impact these forecast calculations include key players’ historic growth; companies and manufacturers working together to develop new, affordable and timesaving technologies; new product launches and approvals; rising demand for THV replacement; availability and cost of products; growing investment in healthcare expenditure; and increased regulatory focus on patient safety and reimbursement policies. In addition, we expect the TAVR market to benefit from general trends, including an aging population, earlier diagnosis of aortic stenosis, increased incidence of obesity and diabetes (which contribute to heart disease), as well as the broader patient populations’ desire to pursue a more active lifestyle. Our innovation-focused R&D practice is driven by rapid technological advancement and significant input from leading interventional cardiologists and cardiac surgeons. As a company that is primarily in the development phase, we currently generate small amounts of revenue and income which are insufficient to cover our investment in research, development and operational activities resulting in recurring net operating losses, incurred since inception. We, like other development stage medical device companies, experience challenges in implementing our business strategy due to limited resources and a smaller capital base as we prioritize product development, minimize the period to the commencement of commercial sales, ensure our focus on quality as well as scale our operations. The development and commercialization of new medical devices is highly competitive. Those competitors may have substantial market share, substantially greater capital resources and established relationships with the structural heart community potentially creating barriers to adoption of our technology. Our success will partly be based on our ability to educate the market about the benefits of our disruptive technology including current unmet clinical needs compared to commercially available devices as well as how we plan to capture market share post commercialization. We are dedicated to developing technological enhancements and new indications for existing products, and less invasive and novel technologies to address unmet patient needs. That dedication leads to our initiation and participation in clinical trials that seek to prove our pipeline is safe and effective as the demand for clinical and economic evidence remains high. From time to time, we enter into strategic agreements aimed at enhancing our business operations and profitability. For example, in April 2023, we invested in, and entered a development agreement with, v2vmedtech, inc. (“v2vmedtech”), which develops an innovative heart valve repair device for the minimally invasive treatment of mitral and tricuspid valve regurgitation. ATL is an Australian public company originally registered in Western Australia, Australia that was incorporated in 1999. The Company was incorporated in the State of Delaware on January 29, 2024, for the purposes of effecting the Reorganization. The Company is a global company with its principal executive offices located at Toowong Tower, Level 3, Suite 302, 9 Sherwood Road, Toowong, QLD 4066, Australia, and other key locations located at 860 Blue Gentian Road, Suite 340, Eagan, Minnesota 55121 as well as two other sites in Minnesota and sites in Western Australia, Australia and Geneva, Switzerland. Anteris Technologies Global Corp. (AVR) is classified as a small-cap stock in the Healthcare sector, specifically within the Medical Equipment industry. The company is led by CEO Wayne Paterson and employs approximately 138 people, headquartered in EAGAN, Minnesota. With a market capitalization of $517M, AVR is one of the notable companies in the Healthcare sector.

Anteris Technologies Global Corp. (AVR) Stock Rating — Reduce (April 2026)

As of April 2026, Anteris Technologies Global Corp. receives a Reduce rating with a composite score of 30.7/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.AVR ranks #3,134 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, Anteris Technologies Global Corp. ranks #462 of 838 stocks, placing it in the lower half of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

AVR Stock Price and 52-Week Range

Anteris Technologies Global Corp. (AVR) currently trades at $5.66. The stock gained $0.15 (2.7%) in the most recent trading session. The 52-week high for AVR is $6.90, which means the stock is currently trading -18.0% from its annual peak. The 52-week low is $2.34, putting the stock 141.8% above its annual trough. Recent trading volume was 521K shares, suggesting relatively thin trading activity.

Is AVR Overvalued or Undervalued? — Valuation Analysis

Anteris Technologies Global Corp. (AVR) carries a value factor score of 20/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 193.65x, versus the sector average of 2.75x. The price-to-sales ratio is 67.60x, compared to 1.66x for the average Healthcare stock.

At current multiples, Anteris Technologies Global Corp. trades at a premium to most Healthcare peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Anteris Technologies Global Corp. Profitability — ROE, Margins, and Quality Score

Anteris Technologies Global Corp. (AVR) earns a quality factor score of 24/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -2644.7%, compared to the Healthcare sector average of -43.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -1638.9% versus the sector average of -33.1%.

On a margin basis, Anteris Technologies Global Corp. reports gross margins of 70.3%, compared to 71.5% for the sector. The operating margin is -4908.2% (sector: -66.1%). Net profit margin stands at -4925.5%, versus -58.7% for the average Healthcare stock. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

AVR Debt, Balance Sheet, and Financial Health

Anteris Technologies Global Corp. has a debt-to-equity ratio of 468.0%, compared to the Healthcare sector average of 32.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 0.73x, which may signal near-term liquidity tightness. Total debt on the balance sheet is $122,000. Cash and equivalents stand at $9M.

AVR has a beta of 1.94, meaning it is more volatile than the broader market — a $10,000 investment in AVR would be expected to move 94.1% more than the S&P 500 on any given day. The stability factor score for Anteris Technologies Global Corp. is 21/100, suggesting elevated price swings that may be unsuitable for conservative portfolios.

Anteris Technologies Global Corp. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Anteris Technologies Global Corp. reported revenue of $2M and earnings per share (EPS) of $-2.55. Net income for the quarter was $-94M. Gross margin was 70.3%. Operating income came in at $-94M.

In FY 2025, Anteris Technologies Global Corp. reported revenue of $2M and earnings per share (EPS) of $-2.55. Net income for the quarter was $-94M. Gross margin was 70.3%. Operating income came in at $-94M.

In Q3 2025, Anteris Technologies Global Corp. reported revenue of $429,000 and earnings per share (EPS) of $-0.62. Net income for the quarter was $-22M. Gross margin was 71.3%. Operating income came in at $-22M.

In Q2 2025, Anteris Technologies Global Corp. reported revenue of $618,000 and earnings per share (EPS) of $-0.58. Net income for the quarter was $-21M. Gross margin was 76.0%. Operating income came in at $-21M.

Over the past 5 quarters, Anteris Technologies Global Corp. has demonstrated a growth trajectory, with revenue expanding from $556,000 to $2M. Investors analyzing AVR stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

AVR Dividend Yield and Income Analysis

Anteris Technologies Global Corp. (AVR) does not currently pay a dividend. This is common among smaller companies in the Medical Equipment industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.

AVR Momentum and Technical Analysis Profile

Anteris Technologies Global Corp. (AVR) has a momentum factor score of 48/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 41/100 reflects moderate short selling activity.

AVR vs Competitors — Healthcare Sector Ranking and Peer Comparison

Within the Healthcare sector, Anteris Technologies Global Corp. (AVR) ranks #462 out of 838 stocks based on the Blank Capital composite score. This places AVR in the lower half of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.

Comparing AVR against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full AVR vs S&P 500 (SPY) comparison to assess how Anteris Technologies Global Corp. stacks up against the broader market across all factor dimensions.

AVR Next Earnings Date

No upcoming earnings date has been announced for Anteris Technologies Global Corp. (AVR) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy AVR? — Investment Thesis Summary

The quantitative profile for Anteris Technologies Global Corp. suggests caution. The quality score of 24/100 flags below-average profitability. The value score of 20/100 indicates premium valuation. High volatility (stability score 21/100) increases portfolio risk.

In summary, Anteris Technologies Global Corp. (AVR) earns a Reduce rating with a composite score of 30.7/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on AVR stock.

Related Resources for AVR Investors

Explore more research and tools: AVR vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare AVR head-to-head with peers: AVR vs AZN, AVR vs SLGL, AVR vs VMD.