- Avinger Inc AVGR reported a fourth-quarter revenue decrease of 12% year-over-year to $2.40 million, beating the consensus of $2.29 million.
- Hospital constraints impacted Q4 on procedural volume and hospital staffing shortages related to the resurgence of COVID-1.
- EPS improved to $(1.26) from $(1.32) in 4Q20, missing consensus estimates of $(1.20).
- The gross margin for the quarter was 30%, compared with 34% in 3Q21 and 36% in the prior year Q4.
- Loss from operations stood at $4.56 million versus a loss of $4.23 million a year ago.
- Adjusted EBITDA was a loss of $4.3 million in Q4, compared to a loss of $3.7 million in 4Q20.
- Avinger held cash and cash equivalents of $19.5 million as of December 30, 2021.
- On March 14, 2022, Avinger effected a 1-for-20 reverse stock split to regain compliance with the Nasdaq minimum bid price requirement.
- The company Received 510(k) clearance in January 2022 for the Lightbox 3 next-generation imaging console.
- Avinger completed the first cases with Lightbox 3 in select hospitals beginning in February 2022, paving the way for expansion to full commercial availability in 2Q22.
- Price Action: AVGR shares are trading higher by 4.17% at $4 during the post-market session on Tuesday.
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