Asensus Surgical, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 04:05 pm EST
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Asensus Surgical, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 1.09 million compared to USD 2.56 million a year ago. Net loss was USD 18.32 million compared to USD 18.92 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to USD 0.08 a year ago. Diluted loss per share from continuing operations was USD 0.07 compared to USD 0.08 a year ago.
For the nine months, revenue was USD 3.15 million compared to USD 4.62 million a year ago. Net loss was USD 61.2 million compared to USD 57.67 million a year ago. Basic loss per share from continuing operations was USD 0.25 compared to USD 0.24 a year ago. Diluted loss per share from continuing operations was USD 0.25 compared to USD 0.24 a year ago.
Asensus Surgical, Inc. is a medical device company digitizing the interface between the surgeon and patient to reimagine surgery through Performance-Guided Surgery to enable surgeons to deliver outcomes to patients and establish a new standard of surgery. It operates in one business segment, which is the research, development and sale of medical device robotics to improve minimally invasive surgery. It is developing the LUNA Surgical System, a robotic and instrument system as a foundation of its Digital Surgery solution. These systems shall be powered by the Intelligent Surgical Unit to enhance surgeon control and reduce surgical variability. With the addition of machine vision, Augmented Intelligence, and deep learning capabilities throughout the surgical experience, it intends to holistically address the clinical, cognitive and economic shortcomings that drive surgical outcomes and value-based healthcare. It is also working to incorporate all of this in the LUNA Surgical System.