CATHETER PRECISION, INC. Reports Unaudited Preliminary Q4 And FY23 Results; Sees Q4 Revenue $129K.; FY23 Revenue $442K
Portfolio Pulse from Benzinga Newsdesk
Catheter Precision, Inc. (VTAK) released unaudited preliminary Q4 and FY23 results, reporting Q4 revenue of $129K and FY23 revenue of $442K. The company ended the year with $3.6 million in cash, total assets of $30.7 million, and shareholders' equity of $19.4 million. A significant net loss was reported for both Q4 and FY23, with a one-time $61 million write-off for goodwill impairment included in the annual loss. Key highlights include the launch of LockeT closure product in the US, expansion of sales and clinical personnel, and progress in clinical studies for LockeT. The company also received approval for its VIVO product in France and expanded its IP portfolio to 50 patents worldwide. CEO David Jenkins expressed optimism for 2024, citing momentum in product introductions and hospital evaluations. Final results are pending completion of year-end financial reporting and audit processes.
January 10, 2024 | 9:45 pm
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Catheter Precision, Inc. reported preliminary Q4 and FY23 revenues with significant losses due to a one-time goodwill impairment. The company highlighted progress with its LockeT and VIVO products, and expansion in the US and Europe.
The reported revenues and net loss, including the goodwill impairment, suggest a mixed financial performance. However, the company's optimism about product adoption and IP expansion could mitigate negative investor sentiment. The final impact on the stock price will depend on the market's perception of the company's growth potential versus its financial losses.
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