Avinger Registers 12% Decline In Q4 Revenue, Says Hospital Constraints Impacted Q4

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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