Aspira Women’s Health Reports 6% Revenue Growth to $2.3 Million in Q1 2025

Aspira Women’s Health Inc. reported its financial results for the first quarter of 2025, revealing a total revenue of $2.3 million, a 6% increase from $2.2 million in the same period of 2024. The company's product revenue, primarily from its OvaSuite tests, rose to $2.3 million, driven by a higher average unit price (AUP) despite a slight decline in test volume. The gross profit for the quarter was $1.6 million, reflecting a gross profit margin of 68.5%, up from 56.4% in the prior year, attributed to reduced costs of revenue.

Operating expenses decreased significantly to $4.8 million from $5.9 million year-over-year, primarily due to a reduction in sales and marketing expenses, which fell by 43% to $1.1 million. Research and development expenses increased slightly by 7% to $973,000, while general and administrative expenses decreased by 12% to $2.7 million. The company reported a loss from operations of $3.2 million, an improvement from a loss of $4.7 million in the previous year. Overall, Aspira's net loss narrowed to $1.9 million, compared to a net loss of $4.6 million in the first quarter of 2024.

In terms of strategic developments, Aspira has been actively pursuing funding opportunities, including a recent $1.5 million payment from the Advanced Research Projects Agency for Health (ARPA-H) as part of a two-year funding initiative. The company also completed a private placement of convertible notes in March 2025, raising approximately $1.4 million. These funds are expected to support ongoing operations and product development initiatives.

Operationally, the company reported a decrease in the number of OvaSuite tests performed, which totaled 5,679, down from 5,829 in the prior year. This decline was attributed to a reduced sales force. However, the average unit price for Ova1Plus and OvaWatch tests increased, indicating a positive trend in pricing strategy. Aspira's cash and cash equivalents stood at $3.3 million as of March 31, 2025, with an accumulated deficit of approximately $533.3 million.

Looking ahead, Aspira anticipates continued challenges in achieving profitability and positive cash flow, with management indicating that additional capital will be necessary to fund operations. The company plans to focus on increasing revenue through its existing product lines while exploring new diagnostic tests for gynecologic diseases. Despite the current financial hurdles, Aspira remains committed to expanding its market presence and enhancing its product offerings in the gynecologic health sector.