Encision Stock Price, News & Analysis

Encision Inc. (OTC PINK:ECIA) announced its fiscal Q3 2023 results, reporting net revenue of $1.68 million and a net loss of $216 thousand, or $(0.02) per diluted share. This represents a revenue decline from $1.94 million and a net loss of $16 thousand in Q3 2022. For nine months, the company achieved net revenue of $5.54 million with a net loss of $231 thousand, compared to $6.07 million and income of $337 thousand in the same period last year. Despite these challenges, gross margins improved to 54% due to better operational efficiency. The CEO attributed the revenue drop to decreased surgical procedures, COVID impacts, and affordability issues among patients.

Encision Inc. (OTC PINK:ECIA) reported Q2 2023 financial results, posting $1.70 million in net revenue and a net loss of $279,000, or $(0.02) per diluted share. This represents a decline from last year's Q2 revenue of $2.11 million and a profit of $360,000. The gross margin improved to 49% from 45% year-over-year. For the first half of FY2023, net revenue was $3.86 million with a slight loss of $15,000. Supply chain issues and reduced procedure volumes due to COVID hindered growth. Encision is implementing price increases and investing in manufacturing to counteract rising material costs.

Encision Inc. (OTCPK:ECIA) reported financial results for Q4 2022, revealing net revenue of $1.60 million, down from $2.15 million a year ago, resulting in a net loss of $402 thousand or $(0.03) per diluted share. For the fiscal year, net revenue was $7.67 million, slightly above $7.54 million in the previous year, but recorded a net loss of $66 thousand compared to a net income of $585 thousand in FY 2021. Gross margins decreased to 50% in Q4 and 49% for the year, attributed to higher material costs. The company faced significant challenges amid COVID-19 disruptions and concluded a collaboration with Auris Health.

Encision Inc. (OTC PINK:ECIA) reported its fiscal 2022 third quarter financial results on February 10, 2022, revealing net revenue of $1.94 million and a net loss of $16,000, compared to $2.16 million in revenue and a net income of $599,000 in the previous year. Gross margins were 52% this quarter, a slight increase from 51% last year. For the nine months ending December 31, 2021, net revenue totaled $6.07 million with net income of $337,000. The company continues to navigate challenges posed by COVID-19, impacting surgical procedures and revenue. Encision emphasizes its ongoing collaboration with Auris Health for integrating AEM Technology.

Encision Inc. (PK:ECIA) reported financial results for Q2 FY2022, posting net revenue of $2.11 million and a net income of $360,000 or $0.03 per diluted share, compared to $1.88 million in revenue and $9,000 in net income from the previous year. The gross margin decreased to 45%, down from 53% due to increased material costs. For the six months ending September 30, 2021, revenue of $4.12 million led to a net income of $353,000. Encision has secured a three-year Supply Agreement with Auris Health and achieved loan forgiveness of $533,118.

Encision Inc. (PK:ECIA), a medical device firm specializing in Active Electrode Monitoring (AEM®) Technology, announced a three-year Supply Agreement with Auris Health, part of Johnson & Johnson Medical Devices. Under this exclusive agreement, Auris will purchase AEM® Technology enabled products from Encision, providing an upfront payment and milestone payments based on sales performance. CEO Gregory J. Trudel emphasized the partnership aims to enhance patient safety in robotic surgery. Encision focuses on innovative surgical instrumentation to improve safety and efficiency during minimally invasive procedures.

Encision Inc. (PK:ECIA) reported financial results for Q1 of fiscal 2022, showing a net revenue of $2.01 million and a net loss of $7,000 or $0.00 per diluted share. This marks a significant increase from the previous year, where net revenue was $1.35 million with a loss of $139,000. Gross margin improved to 51% from 48% as product volumes rebounded post-COVID. The company is optimistic about its collaboration with Auris Health for service revenue and is applying for forgiveness of a $533,118 PPP loan, which it expects to qualify for.

Encision Inc. (PK: ECIA) reported its fiscal 2021 fourth quarter results with net revenue of $2.15 million, a significant increase from $1.78 million year-over-year, and net income of $116 thousand compared to a loss of $116 thousand last year. Yearly net revenue was $7.54 million with a net income of $585 thousand. Gross margin improved slightly to 54%. The company also highlighted a successful launch of its new AEM 2X enTouch Scissors, aimed at enhancing surgical performance and reducing costs. Encision expects to qualify for forgiveness of a $533,118 PPP loan.

Encision Inc. (PK:ECIA), a medical device company, has secured a $533,118 unsecured promissory note under the Paycheck Protection Program (PPP). The loan features a two-year term at 1.0% interest, with an initial six-month deferment. Encision aims to use the funds primarily for payroll, rent, and utilities to qualify for loan forgiveness. CEO Gregory Trudel expressed optimism about maintaining manufacturing performance and introducing new AEM technology products. The company highlights its commitment to safety and innovation in minimally invasive surgical procedures.