Aspira Women's Health Inc.

Q3 2024 OvaSuite revenue was $2.3 million, up 2% from $2.2 million a year ago and down slightly from $2.4 million in Q2 2024. OvaSuite tests were more than 6,000, up 4% from approximately 5,783 in the prior-year quarter, and gross margin improved to 60% from 59%. Average unit price was $376 versus $383 last year, with OvaWatch AUP at $360, up 4% year over year, and OvaWatch represented 22% of total OvaSuite volume versus 18% a year ago. Cash used in operating activities was $2.9 million, down 12% year over year, and cash and restricted cash was $2.1 million at September 30, 2024. Management reiterated 2024 cash used in operations of less than $14.5 million and said it expects the first $2 million ARPA-H payment before year-end; it also said R&D expense should rise in Q4 as ENDOinform work accelerates.

Nicole Sandford framed the quarter around commercial execution and strategic momentum, emphasizing that the field sales team had strong September results before hurricane disruptions hit several productive territories. She said the company is building toward broader adoption of OvaWatch, OVAinform, and ENDOinform, and sees the ARPA-H award as a major validation of both its science and its ability to commercialize products. Her tone was upbeat and execution-focused, with repeated references to leveraging the award, expanding reach, and finishing the year strong.

John Kallassy focused on the mix of growth and cost discipline. He said OvaSuite revenue reached $2.3 million, gross margin improved to 60%, and operating cash use fell to $2.9 million in the quarter, which he noted was the first time the company used less than $3 million in operating cash since Ova1Plus launched. He also cited lower G&A expenses, down $675,000 or 25% year over year, and said the company expects R&D to increase in Q4 as ARPA-H-funded ENDOinform development ramps up. He reiterated cash used in operations guidance of less than $14.5 million for 2024 and noted the $4.5 million at-the-market facility.

In Q&A, management was asked whether ENDOinform and OVAinform could be commercialized within the ARPA-H funding window. Sandy Milligan said the contract is for two years, that the team is driving as fast as possible, and that the outside date would be the full two years, though she expressed optimism that development could finish sooner. She was also asked about future partnering; she said partnerships with endometriosis therapy companies would likely be needed for predictive diagnostics and called the broader partnership environment positive, citing rising interest in women’s health.