Acutus Medical, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 04:07 pm EST
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Acutus Medical, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 5.24 million compared to USD 3.64 million a year ago. Net loss was USD 13.24 million compared to USD 20.43 million a year ago. Basic loss per share from continuing operations was USD 0.45 compared to USD 0.72 a year ago.
For the nine months, sales was USD 14.7 million compared to USD 11.4 million a year ago. Net loss was USD 47.9 million compared to USD 54.72 million a year ago. Basic loss per share from continuing operations was USD 1.65 compared to USD 1.93 a year ago.
Acutus Medical, Inc. is focused on the production of left-heart access products under its distribution agreement with Medtronic, Inc. (Medtronic). The Company is solely focused on supporting the manufacturing and distribution of products to Medtronic. It manufactures transseptal crossing devices and associated accessories, such as integrated transseptal dilators and needles, fixed-curve or steerable introducers, and steerable sheaths (Products). These Products are used to access the left side, or left atrium, of the cardiac anatomy and are used in a range of medical applications, including in electrophysiology and structural heart procedures. The technology supports physicians during a critical component of an ablation or structural heart procedure. The transseptal crossing devices that it manufactures for Medtronic include versions that are length-, diameter- and tip-matched and designed to lock into the hub of sheaths used in many left-heart procedures.