Acutus Medical, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 11, 2022 at 04:05 pm EDT
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Acutus Medical, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 4.08 million compared to USD 4.71 million a year ago. Net income was USD 5.72 million compared to net loss of USD 28.73 million a year ago. Basic earnings per share from continuing operations was USD 0.16 compared to basic loss per share from continuing operations of USD 1.02 a year ago. Diluted earnings per share from continuing operations was USD 0.16 compared to diluted loss per share from continuing operations of USD 1.02 a year ago.
For the six months, sales was USD 7.76 million compared to USD 8.3 million a year ago. Net loss was USD 34.3 million compared to USD 57.91 million a year ago. Basic loss per share from continuing operations was USD 1.22 compared to USD 2.06 a year ago. Diluted loss per share from continuing operations was USD 1.22 compared to USD 2.06 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.