The following is a summary of the Asensus Surgical, Inc. (ASXC) Q4 2023 Earnings Call Transcript:
Financial Performance:
Asensus reported a Q4 revenue of $5.4 million, a significant increase from $2.5 million in Q4 2022.
The revenue figures included earnings from system revenue, instruments and accessories, as well as lease revenue and services.
The total operating expenses for Q4 2023 saw a slight decrease to $17.2 million from $18.3 million in the same period the previous year.
There was a marginal decrease in net loss attributable to common shareholders for Q4 2023, with $0.07 per share against $0.08 per share in Q4 2022.
Business Progress:
In 2023, Asensus recorded over 3,550 procedures using the Senhance System depicting a growth of 13% compared to 2022.
The company further initiated nine new Senhance programs during the Q4 of 2023 across various countries.
In terms of future goals, the company intends to initiate 8-10 new programs in 2024 and anticipates a procedure volume growth of 15% to 20% over 2023.
They also plan to complete the design for two ISU configurations by Q2 of 2024 and aim for a submission for the next-generation LUNA surgical system by the second half of 2025.
More details: Asensus Surgical IR
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