Acutus Medical Q1 revenue up 192% to $3.6M; net loss narrows; stock delisted to OTC Pink

Acutus Medical, Inc.

2024-Q1 EPS reported -$0.06 revenue$3,625,000

Q1 continuing ops revenue $3.6M, up 192% YoY; GAAP gross margin improved to -1% from -70%.
Net loss from continuing ops $2.1M ($0.07/share) vs $4.3M ($0.15) in Q1 2023.
Cash, equivalents, marketable securities, restricted cash $20.0M at March 31, 2024.
Nasdaq commenced delisting; stock now trades on OTC Pink under AFIB as of May 9, 2024.
Company will cease providing financial guidance due to restructuring and exit from EP mapping/ablation.

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 0.97

Acutus Medical, Inc. reported the quarter ended March 31, 2024 results: revenue $3.6 million, net income $2.1 million, EPS $0.07.

Period: the quarter ended March 31, 2024
Revenue: $3.6 million
Net income: $2.1 million
EPS: $0.07
Result: reported results

Exact text from the filing

Inc. (“Acutus” or the “Company”) (OTC: AFIB) today reported results for the first quarter of 2024. Recent Highlights: • First quarter revenue from Continuing Operations of $3.6 million grew 192% year-over-year, from $1.2 million in the same quarter last year. • Operating expenses for continuing operations were $3.3 million, a reduction of 38% compared to the

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Source: SEC EDGAR

accession 0001628280-24-022197

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