Acutus Medical, Inc. Financials
Acutus Medical, Inc. (AFIB) reported $20.2M in revenue for fiscal year 2024, up 181.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
A gross-margin turnaround has brought operations near break-even, but interest expense and operating cash use still keep the business unprofitable.
Gross margin shifted from-43.8% in FY2023 to5.0% in FY2024, indicating a meaningful improvement in product economics rather than mere revenue growth. Yet operating income was only-$57K while interest expense reached$5.8M , so the operating improvement has not carried through to bottom-line earnings.
Operating cash flow was
Liabilities were
Financial Health Signals
Acutus Medical, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Acutus Medical, Inc. passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Acutus Medical, Inc. reported a net loss of $9.5M while operations used $31.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Acutus Medical, Inc. reported an operating loss of $57K against $5.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Acutus Medical, Inc. generated $20.2M in revenue in fiscal year 2024. This represents an increase of 181.4% from the prior year.
Acutus Medical, Inc.'s EBITDA was $970K in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 108.9% from the prior year.
Acutus Medical, Inc. reported -$9.5M in net income in fiscal year 2024. This represents an increase of 88.3% from the prior year.
Acutus Medical, Inc. earned -$0.32 per diluted share (EPS) in fiscal year 2024. This represents an increase of 88.6% from the prior year.
Cash & Balance Sheet
Acutus Medical, Inc. recorded an outflow of $31.8M in free cash flow in fiscal year 2024, representing a cash shortfall after capex. This represents an increase of 49.8% from the prior year.
Acutus Medical, Inc. held $14.0M in cash against $25.6M in long-term debt as of fiscal year 2024.
Not reported for fiscal year 2024.
Margins & Returns
Acutus Medical, Inc.'s gross margin was 5.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 48.8 percentage points from the prior year.
Acutus Medical, Inc.'s operating margin was -0.3% in fiscal year 2024, reflecting core business profitability. No change is given against fiscal year 2023: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Acutus Medical, Inc.'s net profit margin was -47.4% in fiscal year 2024, showing the share of revenue converted to profit. No change is given against fiscal year 2023: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not reported for fiscal year 2024.
Capital Allocation
Acutus Medical, Inc. reported no research and development spending in fiscal year 2024. This represents a decrease of 100.0% from the prior year.
Acutus Medical, Inc. invested $112K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 48.9% from the prior year.
Not reported for fiscal year 2024.
AFIB Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.1M+35.6% | $5.3M+27.6% | $4.1M+13.8% | $3.6M+54.5% | $2.3M+13.9% | $2.1M+36.0% | $1.5M+22.0% | $1.2M |
| Cost of Revenue | $6.1M+25.2% | $4.9M+9.5% | $4.5M+22.3% | $3.7M+45.4% | $2.5M-20.2% | $3.1M+24.7% | $2.5M+19.7% | $2.1M |
| Gross Profit | $1.0M+172.6% | $372K+208.5% | -$343K-1043.3% | -$30K+81.9% | -$166K+84.8% | -$1.1M-7.7% | -$1.0M-16.5% | -$869K |
| R&D Expenses | $0 | $0 | $0 | $0-100.0% | $731K-18.4% | $896K-2.3% | $917K-2.2% | $938K |
| SG&A Expenses | $2.6M+10.3% | $2.3M+4.2% | $2.2M-33.3% | $3.3M-15.7% | $4.0M+68.2% | $2.4M-28.2% | $3.3M-26.7% | $4.5M |
| Operating Income | -$272K-155.6% | $489K+62.5% | $301K+152.3% | -$575K+66.3% | -$1.7M-0.7% | -$1.7M+44.7% | -$3.1M+42.0% | -$5.3M |
| Interest Expense | $1.4M-1.4% | $1.4M-7.6% | $1.5M+2.2% | $1.5M-4.3% | $1.5M+9.6% | $1.4M+1.0% | $1.4M+6.7% | $1.3M |
| Income Tax | N/A | N/A | N/A | $0+100.0% | -$12K-116.0% | $75K | $0 | $0 |
| Net Income | -$1.4M+74.9% | -$5.6M-513.5% | -$914K+43.6% | -$1.6M+95.2% | -$33.8M-155.1% | -$13.2M+27.8% | -$18.3M-12.4% | -$16.3M |
| EPS (Diluted) | -$0.05+73.7% | -$0.19-533.3% | -$0.03+50.0% | -$0.06+94.8% | -$1.16-157.8% | -$0.45+28.6% | -$0.63-10.5% | -$0.57 |
AFIB Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $28.6M-10.9% | $32.2M-9.3% | $35.5M-14.9% | $41.7M-22.8% | $54.0M-36.3% | $84.7M-15.5% | $100.3M-13.5% | $116.0M |
| Current Assets | $25.6M-5.8% | $27.2M-4.6% | $28.5M-17.3% | $34.4M-25.6% | $46.3M-36.3% | $72.6M-16.8% | $87.3M-14.2% | $101.8M |
| Cash & Equivalents | $14.0M+11.3% | $12.6M-5.5% | $13.3M-27.8% | $18.5M-3.7% | $19.2M-20.5% | $24.1M+4.5% | $23.1M+1.4% | $22.7M |
| Inventory | $1.8M-57.3% | $4.2M-19.6% | $5.2M-11.5% | $5.9M+37.6% | $4.3M-72.8% | $15.7M+0.4% | $15.7M+4.9% | $14.9M |
| Accounts Receivable | $7.9M-21.0% | $10.0M+8.0% | $9.2M+19.2% | $7.8M-31.7% | $11.4M+26.8% | $9.0M+16.7% | $7.7M+43.6% | $5.3M |
| Total Liabilities | $40.2M-5.2% | $42.5M+5.4% | $40.3M-11.8% | $45.7M-16.7% | $54.8M+3.4% | $53.0M-6.2% | $56.6M+1.8% | $55.5M |
| Current Liabilities | $12.4M-15.2% | $14.7M+18.5% | $12.4M+25.4% | $9.9M-47.9% | $18.9M+28.3% | $14.8M-19.0% | $18.2M+6.5% | $17.1M |
| Long-Term Debt | $25.6M+1.2% | $25.3M+0.6% | $25.1M-23.4% | $32.8M+0.5% | $32.7M-6.1% | $34.8M+0.4% | $34.6M+0.3% | $34.5M |
| Total Equity | -$11.6M-12.6% | -$10.3M-114.3% | -$4.8M-19.5% | -$4.0M-357.3% | -$879K-102.8% | $31.7M-27.5% | $43.7M-27.7% | $60.5M |
| Retained Earnings | -$609.5M-0.2% | -$608.1M-0.9% | -$602.5M-0.2% | -$601.6M-0.3% | -$600.0M-6.0% | -$566.2M-2.4% | -$553.0M-3.4% | -$534.6M |
Not reported in any period shown, so not listed: Goodwill.
AFIB Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.1M-9.7% | -$3.7M+47.0% | -$7.0M+58.8% | -$16.9M+6.0% | -$18.0M-28.6% | -$14.0M+8.9% | -$15.4M+2.3% | -$15.7M |
| Capital Expenditures | -$36K+620.0% | $5K-86.8% | $38K-63.8% | $105K-89.2% | -$968K+136.1% | $410K-45.5% | $752K+2908.0% | $25K |
| Free Cash Flow | -$4.1M-10.6% | -$3.7M+47.2% | -$7.0M+58.8% | -$17.0M+10.3% | -$19.0M-31.6% | -$14.4M+10.6% | -$16.1M-2.3% | -$15.8M |
| Investing Cash Flow | $5.5M+83.8% | $3.0M-33.4% | $4.5M-51.6% | $9.2M-17.7% | $11.2M-33.8% | $16.9M+12.0% | $15.1M-0.7% | $15.2M |
| Financing Cash Flow | -$225K | $0+100.0% | -$2.6M-6147.6% | -$42K+91.5% | -$495K+74.4% | -$1.9M-9114.3% | -$21K+90.1% | -$213K |
| Share Buybacks | N/A | $0 | N/A | N/A | -$35K+191.7% | $12K-93.8% | -$194K-10.6% | $217K |
Not reported in any period shown, so not listed: Dividends Paid.
AFIB Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 14.2%+7.1pp | 7.1%+15.4pp | -8.3%-7.5pp | -0.8%+6.2pp | -7.1%+45.8pp | -52.9%+13.9pp | -66.8%+3.2pp | -70.0% |
| Operating Margin | -3.8%-13.1pp | 9.3%+2.0pp | 7.3%+23.1pp | -15.9%+56.7pp | -72.6%+9.5pp | -82.1% | -202.0% | -424.5% |
| Net Margin | -19.7% | -106.5% | -22.1%+22.5pp | -44.7% | -1438.7% | -642.6% | -1211.0% | -1313.6% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | -41.8%+0.2pp | -41.9%-15.0pp | -27.0% |
| Return on Assets | -4.9%+12.5pp | -17.4%-14.9pp | -2.6%+1.3pp | -3.9%+58.7pp | -62.6%-47.0pp | -15.6%+2.7pp | -18.3%-4.2pp | -14.1% |
| Current Ratio | 2.06+0.2x | 1.85-0.4x | 2.30-1.2x | 3.48+1.0x | 2.44-2.5x | 4.92+0.1x | 4.79-1.2x | 5.95 |
| Debt-to-Equity | N/A | N/A | N/A | N/A | N/A | 1.10+0.3x | 0.79+0.2x | 0.57 |
| FCF Margin | -57.4%+13.0pp | -70.3% | -169.9% | -469.9% | -808.7% | -699.9% | -1064.1% | -1268.4% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$11.6M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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Where Acutus Medical, Inc. Ranks
Frequently Asked Questions
What is Acutus Medical, Inc.'s annual revenue?
Acutus Medical, Inc. (AFIB) reported $20.2M in total revenue for fiscal year 2024. This represents a 181.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Acutus Medical, Inc.'s revenue growing?
Acutus Medical, Inc. (AFIB) revenue grew by 181.4% year-over-year, from $7.2M to $20.2M in fiscal year 2024.
Is Acutus Medical, Inc. profitable?
No, Acutus Medical, Inc. (AFIB) reported a net income of -$9.5M in fiscal year 2024, with a net profit margin of -47.4%.
What is Acutus Medical, Inc.'s EBITDA?
Acutus Medical, Inc. (AFIB) had EBITDA of $970K in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Acutus Medical, Inc. have?
As of fiscal year 2024, Acutus Medical, Inc. (AFIB) had $14.0M in cash and equivalents against $25.6M in long-term debt.
What is Acutus Medical, Inc.'s gross margin?
Acutus Medical, Inc. (AFIB) had a gross margin of 5.0% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Acutus Medical, Inc.'s operating margin?
Acutus Medical, Inc. (AFIB) had an operating margin of -0.3% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Acutus Medical, Inc.'s net profit margin?
Acutus Medical, Inc. (AFIB) had a net profit margin of -47.4% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Acutus Medical, Inc.'s free cash flow?
Acutus Medical, Inc. (AFIB) recorded an outflow of $31.8M in free cash flow during fiscal year 2024. This represents a 49.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Acutus Medical, Inc.'s operating cash flow?
Acutus Medical, Inc. (AFIB) recorded an outflow of $31.7M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
What are Acutus Medical, Inc.'s total assets?
Acutus Medical, Inc. (AFIB) had $28.6M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Acutus Medical, Inc.'s capital expenditures?
Acutus Medical, Inc. (AFIB) invested $112K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
What is Acutus Medical, Inc.'s current ratio?
Acutus Medical, Inc. (AFIB) had a current ratio of 2.06 as of fiscal year 2024, which is generally considered healthy.
What is Acutus Medical, Inc.'s return on assets (ROA)?
Acutus Medical, Inc. (AFIB) had a return on assets of -33.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
How does Acutus Medical, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2024, Acutus Medical, Inc. (AFIB) held $14.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $31.7M over that year. Dividing the one by the other, the reported balance equals about 5 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Acutus Medical, Inc.'s debt-to-equity ratio negative or not reported?
Acutus Medical, Inc. (AFIB) has negative shareholder equity of -$11.6M as of fiscal year 2024, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Acutus Medical, Inc.'s Piotroski F-Score?
Acutus Medical, Inc. (AFIB) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Acutus Medical, Inc.'s earnings high quality?
Acutus Medical, Inc. (AFIB) reported a net loss of $9.5M while operations used $31.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Acutus Medical, Inc. cover its interest payments?
Acutus Medical, Inc. (AFIB) reported an operating loss of $57K against $5.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.