Asensus Surgical (NYSE American: ASXC) reported second-quarter results that beat the Wall Street earnings consensus forecast but missed on revenue.
The Research Triangle Park, N.C.–based surgical robotics company reported a loss of –$13.2 million, or –6¢ per common share, off revenue of $1.1 million for the quarter ended June 30, 2021 — versus a loss of –$14.1 million, –27¢ per share, off revenue of $0.7 million during Q2 2020.
Adjusted to exclude one-time items, earnings per share were –5¢, a penny ahead of The Street, where analysts were looking at EPS of –6¢ on sales of $1.5 million.
“During the quarter, we continued to drive strong adoption and utilization trends while making progress towards our strategic focus areas, including the expansion of clinical evidence, growth of our installed base, increased procedure volumes, the expansion of our portfolio and the continued technological development of Senhance. Importantly, I am encouraged by our procedure volumes in the United States, which point to both a macro recovery in the business and an acceleration in adoption by surgeons,” Asensus Surgical CEO Anthony Fernando said in a news release out yesterday evening.
“Looking ahead, we plan to leverage this momentum, in conjunction with the progress made towards the ongoing development of Senhance, to drive increased global adoption.”
The company continues to expect to install 10 to 12 new Senhance surgical systems in 2021.
Investors reacted by sending ASXC shares down more than –5% to $2.24 apiece by midday trading. MassDevice‘s MedTech 100 Index, which includes stocks of the world’s largest medical device companies, was down slightly.