Allurion Technologies (ALUR) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 was $15.2 million, a 53% decrease from $32.1 million in 2024, primarily due to reduced sales and marketing investment, distributor transitions, and a temporary suspension of sales in France.

• Operating loss narrowed to $30.2 million in 2025 from $50.2 million in 2024, reflecting significant cost reductions across sales, marketing, R&D, and G&A.

• The company received FDA approval for the Allurion Gastric Balloon System in February 2026, opening the U.S. market.

• Substantial doubt exists about the company's ability to continue as a going concern due to recurring losses, negative cash flows, and noncompliance with debt covenants.

Financial highlights

• Gross profit for 2025 was $9.6 million, down 55% from $21.5 million in 2024.

• Operating expenses decreased significantly: sales and marketing by 58% to $10.8 million, R&D by 56% to $7.6 million, and G&A by 25% to $21.4 million.

• Net loss for 2025 was $28.8 million, compared to $7.2 million in 2024, with a basic and diluted net loss per share of $3.81.

• Cash and cash equivalents at year-end 2025 were $5.4 million, with an accumulated deficit of $251.0 million.

• Net cash used in operating activities was $28.9 million in 2025, down from $42.3 million in 2024.

Outlook and guidance

• Management expects continued operating losses and negative cash flows for the foreseeable future.

• The company anticipates further cost reductions in 2026 as clinical trials wind down and restructuring initiatives take effect.

• Future capital requirements will depend on sales growth, R&D investment, and potential acquisitions.