Aoti, INC. AIM:AOTI
- Incorporated
- United States
- Chief executive
- Dr. Mike Griffiths
- Reports in
- USD
Read straight from the annual reports
130c at close on 5 Oct 2026 · 3 reported years, 2023–2025
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USD millions, negatives in brackets. Per-share lines in cents, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
3 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Veterans Administration (VA) Federal Supply Schedule contract, active through 14 June 2029
VA revenue $35.4m (2024: $34.4m), up 3.0%, impacted early in the year by DOGE-driven administrative disruption
page 7Medicaid state expansion, led by mandated New York coverage
Medicaid revenue grew 37.6% to $29.6m (2024: $21.5m); Medicaid provider IDs secured in 19 states
page 7Shift toward more Medicaid revenue and higher consumables usage
Gross margin decreased from 88.0% to 87.5%
page 13Investment in headcount, market access costs, and non-cash CECL provisions
Adjusted EBITDA margin declined ~250bps to 11.3% (2024: 13.8%)
page 13We continue to expect a CMS local coverage determination in the near term, which will be transformational for the Company over time.
page 2In February 2026, with respect to ongoing Arizona Medicaid reimbursement issues, the Company announced it will cease treating new Arizona Medicaid patients from 1 April 2026 to limit further exposure while minimising impact on existing patients. No other subsequent events were identified.
page 48Financial statements prepared on a going concern basis; Directors concluded the Company has sufficient liquidity for at least 12 months from approval, supported by cash of $13,436,000 at 31 Dec 2025 and a $19,478,000 SWK Funding loan with no principal repayments due within twelve months. Grant Thornton (Ireland) issued an unqualified opinion that the financial statements give a true and fair view under US GAAP, identifying three key audit matters: revenue recognition in relation to Arizona-based insurers, expected credit loss on Arizona-based insurer debtor balances, and valuation of the Nexa intangible license asset.
page 36- Slower than anticipated adoption of the Group's products, leading to lower-than-expected revenues/profits and increased cash burnp.16
- Maintenance of sufficient pricing; failure could adversely impact profitability and cash flowp.16
- Customer satisfaction risk if customers do not see the benefit of AOTI's products and servicesp.16
- Dependence on key personnel — Group's development and prospects depend on continued service of Directors and senior executivesp.16
Read from C000082-AR-2025-website.
2 annual reports read, FY2024 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Company website (2)
FY2026Next report expected 17 Apr 2027