Anteris Technologies Global Corp. (AVR) — RQD Stock Rating Cockpit

Per the Roarable RQD rating, AVR scores 23 out of 100 with a letter grade of E, labeled "Roarable Strong Sell — Forensic Risk / Avoid." The five pillars are: Fundamental Cash Engine at 7/20 (ROIC -35%; FCF yield -12.74%), Whale 13F Flow at 5/20 (institutional accumulation and options positioning), Insider Conviction at 3/20 (SEC Form 4 and Congressional PTR cluster flow), Macro Regime Fit at 3/20 (Beta 1.0; sector sensitivity), and Forensic Balance Sheet at 5/20 (Altman Z 2.5; Piotroski F 2/9; Debt/Equity 0.5). Every pillar sits well below half of its maximum, with the cash engine and insider signals weakest in relative terms. For a prospective investor, the practical implication is that the rating reflects negative cash generation and weak forensic scores rather than a single isolated flaw. A reader weighing upside should note that the rating's own framing is negative on fundamentals, and that the price move on the reporting date (+5.25%) is not by itself evidence that the underlying cash engine has improved. Valuation tradeoffs cannot be assessed on earnings multiples because P/E and EPS are not available in source data; the investment case therefore rests on balance-sheet durability and the trajectory of cash burn, both of which the source data shows moving unfavorably. This is an analytical framing, not personalized advice.

Anteris Technologies Global Corp. (AVR) is a NASDAQ-listed issuer classified under the Health Care sector and Industrial Specialties industry. The source profile does not describe its specific products, customers, or revenue model. Reported revenue of $1.9M for FY 2025 and $2.7M for FY 2024 indicates a very small revenue base relative to its operating losses. Gross margin is reported at 70.3%.

Per the SEC financials, operating margin and net margin are each reported at -60%, and ROIC is -35%. Revenue declined from $2.7M to $1.9M while operating loss widened from $-78.4M to $-93.9M and cash fell from $70.5M to $6.7M. Per the Roarable RQD rating, the Altman Z-Score is 2.5, the Piotroski F-Score is 2 out of 9, and Debt/Equity is 0.5, with the forensic balance-sheet pillar scoring 5/20. Debt figures are not available in source data, so the Debt/Equity ratio cannot be independently reconciled to reported debt.

• Market wire (yellow): Coverage of a PARADIGM trial expansion with German regulatory clearance, per the headline "Anteris Advances Global PARADIGM Trial Expansion with German Regulatory Clearance."
• Risk watch (red): A 12-month price target cut to $12.84, which the headline states implies 93% upside, reported by TradingView. The reduction and the implied-upside framing are both recorded in source headlines.
• Market wire (yellow): A 10% owner's funds purchase of AVR shares on two October dates, per Stock Titan.
• Market wire (yellow): Cantor Fitzgerald reiterated an Overweight rating, per Investing.com UK.
• Market wire (yellow): Lapse of 30,493 restricted stock units and 44,088 options in September 2026, per Kalkine.
• Market wire (yellow): A TradingView estimates page for AVR; no figures are contained in the headline.

The Butterfly supply-chain graph reports no supply-chain links and no proprietary signals, so no supply-chain catalysts are recorded.

Per the Butterfly Supply-Chain Graph, supply chain is recorded as NONE, with no butterfly links and no proprietary signals. The source data therefore does not identify upstream suppliers, downstream customers, or sector correlations for AVR. Investors should note that the absence of recorded links is a data limitation, not evidence of independence. The second-order risk the data does make visible is funding-related: with FY 2025 cash at $6.7M against a $-79.8M free cash flow outflow, the company's ability to sustain operations without new capital is a central bottleneck, and any dilution or financing event would be a ripple to watch.

Analyst data is not available in source data. Holder data is not available in source data. The only analyst-related items are the headlines referenced above: a price target cut to $12.84 (TradingView) and a reiterated Overweight rating from Cantor Fitzgerald (Investing.com UK). Per the Roarable RQD rating, institutional accumulation and options positioning scores 5/20 and insider conviction scores 3/20, reflecting SEC Form 4 and Congressional PTR cluster flow, but no individual 13F or Form 4 transaction records are provided in the holders section.

• What is the company's specific product line, customer base, and revenue model, given that the source profile describes only sector and industry classification?
• What are the reported EPS, P/E, and EV/EBITDA figures, which are absent from the source data?
• What is the reported debt balance, and how does it reconcile with the stated Debt/Equity ratio of 0.5?
• What is the company's current cash runway at the FY 2025 burn rate of $-79.8M?
• Which analyst estimates underlie the cited $12.84 price target, and what is the consensus rating?