Welcome to our dedicated page for Acutus Medical news (Ticker: AFIB), a resource for investors and traders seeking the latest updates and insights on Acutus Medical stock.
Acutus Medical, Inc. (AFIB) generates news primarily around its focused role in surgical and medical instrument manufacturing for left-heart access products. Company announcements emphasize that Acutus is centered on the production of left-heart access products under its distribution agreement with Medtronic, Inc., and on capturing potential net-sales earnouts under an asset purchase agreement with Medtronic. News items often explain how this focused business model shapes the company’s financial performance and operational decisions.
Recent press releases have detailed Acutus’ strategic realignment of resources and corporate restructuring, including the decision to wind down its electrophysiology mapping and ablation business and classify those activities as discontinued operations. News coverage includes updates on operational downsizing, workforce reductions, and the company’s efforts to reduce cash burn and ongoing operating expenses while supporting its obligations to Medtronic.
Investors following AFIB news can expect regular financial result announcements, such as quarterly and full-year earnings releases that distinguish between continuing operations in left-heart access manufacturing and discontinued operations in the EP mapping and ablation business. These releases often discuss revenue from continuing operations, gross margin trends related to left-heart access manufacturing, restructuring impacts, and the recording of gains on sale of business tied to the Medtronic agreements.
In addition, Acutus’ news frequently includes outlook statements connected to its realigned business model, commentary from company leadership on strategic priorities, and reminders of the risks highlighted in its forward-looking statements. For those tracking AFIB, this news flow provides context on how the company’s contract manufacturing focus, Medtronic relationship, and restructuring activities influence its ongoing operations and financial profile.
Acutus Medical (Nasdaq: AFIB) reported preliminary unaudited revenue results for Q4 2022 of approximately $4.7-$4.9 million, up from $4.4 million in Q4 2021, primarily due to the growth in commercial AcQMap procedures. The expected full-year revenue is $16.1-$16.3 million, down from $17.3 million in 2021, impacted by declining capital equipment sales and foreign exchange headwinds. The company also appointed Takeo Mukai as Senior Vice President & Chief Financial Officer effective January 9, 2023, following his interim role.
Acutus Medical (Nasdaq: AFIB) announced the acceptance of its AcQForce Flutter abstract for presentation at the AF Symposium in Boston on February 3, 2023. The abstract details the clinical results of the AcQForce Flutter trial, which utilizes the AcQBlate Force Sensing Ablation Catheter. This catheter features a gold tip electrode with four times the thermal conductivity of platinum, enabling efficient energy delivery at lower temperatures. This marks Acutus' first PMA submission and first presentation at a Late-Breaking Clinical Trials session.
Acutus Medical, Inc. (Nasdaq: AFIB) announced it achieved a significant milestone in its agreement with Medtronic, submitting the left-heart access portfolio for CE Mark under EU MDR, resulting in a $17 million earnout. This marks the second milestone after a $50 million initial payment for the portfolio. The CE Mark submission is expected to accelerate adoption in Europe, enhancing Acutus's financial stability and allowing further focus on their mapping and therapy platform.
Acutus Medical has launched AcQMap 8.5, enhancing its ultrasound capabilities for cardiac arrhythmia management. The new software improves accuracy and workflow in non-contact anatomical reconstruction. It features advanced algorithms for better visualizations, particularly of critical atrial structures. This release is positioned as a key growth driver for 2023, allowing for more efficient, personalized treatments for patients with arrhythmias. AcQMap's non-contact technology aims to provide a holistic view, optimizing treatment strategies for challenging cases.
Acutus Medical has announced that its flagship AcQMap 3D Imaging and Mapping Catheter has received a CE Mark under new European Medical Device Regulations. This certification, which ensures compliance by May 2024, allows physicians in Europe continued access to Acutus's unique mapping technology for diagnosing and treating complex arrhythmias. The CE Mark signifies adherence to enhanced standards for public health and patient safety, positioning Acutus for growth in European markets. Additionally, the company received certification for its quality management system.
Acutus Medical, Inc. (Nasdaq: AFIB) granted 12,000 restricted stock units (RSUs) to three new employees as a material inducement for employment, approved by its Compensation Committee on December 1, 2022. These RSUs will vest annually over four years, contingent on continued employment. Acutus focuses on enhancing the diagnosis and treatment of cardiac arrhythmias through innovative products and technologies. The company emphasizes its commitment to evolving electrophysiology while facing various market risks and uncertainties.
Acutus Medical reported third quarter 2022 revenue of $3.6 million, down from $4.6 million year-over-year. The decrease was attributed to a drop in capital revenue. Despite this, global mapping procedure volumes grew by 17%. Operating expenses decreased to $17.2 million from $23.2 million, driven by cost-saving measures. The net loss for the quarter was $20.4 million, an improvement from $28.5 million last year. The company anticipates revenue between $15.5-$16.0 million for Q4 2022 due to foreign exchange and supply chain challenges.
Acutus Medical has reached a significant milestone in its asset purchase agreement with Medtronic, triggering a $20 million earnout payment. This deal allows Acutus to become an original equipment manufacturer (OEM) for Medtronic, which will facilitate the transition of Acutus's left-heart access portfolio to commercial distribution. Previously, Medtronic paid $50 million for this portfolio, including various medical devices. Acutus also remains eligible for further milestone payments and revenue-based earnouts over the next four years, enhancing its financial position.
Acutus Medical, based in Carlsbad, California, announced the grant of 17,500 restricted stock units (RSUs) to three individuals as a material inducement for employment. This action was approved by the Board’s Compensation Committee on November 1, 2022, following Nasdaq Listing Rule 5635(c)(4). The RSUs will vest in four equal installments annually, contingent on the employees' continued employment. Acutus focuses on enhancing arrhythmia diagnosis and treatment through innovative electrophysiology products and technologies.
Acutus Medical, Inc. (AFIB), based in Carlsbad, California, announced the release of its third quarter 2022 financial results on November 10, 2022. The company focuses on enhancing arrhythmia diagnosis and treatment and will host a conference call at 1:30 p.m. PT to discuss these results and recent highlights. Investors can access the call via telephone by registering in advance. The company aims to improve treatment efficiency through innovative products and global partnerships in electrophysiology.