Asensus Surgical (NYSE American: ASXC) today announced mixed Q2 results that also included 34% procedures growth year-over-year.
The Research Triangle Park, North Carolina–based surgical robotics and digital surgery company lost $19.6 million, or 8¢ per share, off $994,000 in revenue for the quarter ended June 20, 2022 — versus a loss of $13.2 million, or 6¢ per share, off $1.1 million in revenue for the same quarter a year ago.
Wall Street analysts had expected EPS of –8¢ on $1.25 million in revenue.
During Q2, Asensus announced the installation of a Senhance system at the University Hospital Tübingen in Germany. The company also has two additional orders that have not yet been installed — including one heading toward one of the countries in the Commonwealth of Independent States, the international organization that includes Russia and many other former republics of the Soviet Union.
The company is seeking to expand the use of its Intelligent Surgical Unit (ISU). It plans a full-scale commercial launch of 5 mm articulating instruments and a 510(k) application for pediatric clearance, both during the second half of 2022.
“We delivered yet another strong quarter of global Senhance system utilization growth and made great progress towards the ongoing development of our digital surgery platform with the Intelligent Surgical Unit (ISU) as we seek to make performance-guided surgery (PGS) a reality,” Asensus Surgical CEO Anthony Fernando said in a news release. “Our goal is to enable surgeons to perform safer, more predictable, and better quality procedures. By delivering real-time, data-driven clinical intelligence and guidance, Senhance and PGS will revolutionize surgery, and most importantly, help to improve patient outcomes.”
Investors reacted by sending ASXC shares up more than 4% to 59¢ apiece in after-hours trading.