Summary by Moomoo AI
Assure, a provider of Intraoperative neuromonitoring (IONM) services, has reported a significant decrease in revenue from $471 thousand in 2022 to $255 thousand in 2023, marking a 46% decline. The company's cost of revenues saw a slight decrease from $2.5 million in 2022 to $2.4 million in 2023. Assure's gross margin worsened, with a 6% increase in losses from $(2,061) thousand to $(2,194) thousand. Operating expenses were reduced by 10%, from $19,984 thousand to $17,888 thousand, primarily due to a reduction in general and administrative expenses. The net loss improved by 13%, from $(30,112) thousand in 2022 to $(26,078) thousand in 2023. Assure's business development has been focused on providing high-quality IONM services, with substantial investments in training and development of clinical staff. The company has also engaged in clinical research with the Texas Back Institute...Show More