Movano Health reports Q1 revenue $852k, operating loss $5.8M; closes $24M private placement

Corvex, Inc.

2024-Q1 EPS reported -$0.10 revenue$852,000

Q1 2024 revenue $852,000 from 5,305 Evie Rings shipped; operating loss $5.8M vs $7.2M a year ago.
Closed $24.1M private placement on April 4, 2024, including investment from a tier-1 medical device company.
FDA 510(k) decision for Evie Med Ring pulse oximeter expected July 2024; SpO2 trial RMSE 2.46% (below 3.5% FDA guidance).
Planning arterial blood pressure study in June using arterial line for continuous data.
Cash and cash equivalents $2.1M at March 31, 2024; D2C orders paused pending improvements.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Corvex, Inc. reported the quarter ended March 31, 2024 results: revenue $852,000.

Period: the quarter ended March 31, 2024
Revenue: $852,000
Result: reported results

Exact text from the filing

board of directors. Movano Health intends to use the net proceeds from the financing for working capital and general corporate purposes. ● In Q1 2024, Movano Health generated $852,000 in revenue. The Company shipped 5,305 Evie Rings in the period. ● The Company reported an operating loss of $5.8 million in Q1 2024, compared to an operating loss of $7.2 million

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Source: SEC EDGAR

accession 0001213900-24-043664

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