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Encision Inc. reports company developments tied to its medical-device business and the trading status of its common stock. The company designs and markets surgical instrumentation for minimally invasive procedures and owns patented Active Electrode Monitoring (AEM®) technology, which is designed to prevent stray energy burns during surgery.
Recurring updates include quarterly and annual financial results, product and service revenue trends, operating-expense restructuring, common-stock financing, governance changes, and the company’s Form 15 deregistration process. News also covers Encision’s response to procedure migration toward robotic surgery and its development work in surgical safety devices, including activity in the ear, nose and throat market.
Encision Inc. (OTC PINK:ECIA), a medical device company specializing in Active Electrode Monitoring (AEM) Technology, has signed a Master Services Agreement with Vicarious Surgical Inc. The agreement, effective July 8, 2024, involves Encision providing design services for elements of Vicarious' robotic surgical system.
Gregory J. Trudel, President and CEO of Encision, expressed excitement about the collaboration, highlighting the opportunity to bring best-in-class technology to surgical robotics and contribute to patient safety and clinical performance. Encision, based in Boulder, Colorado, focuses on developing surgical instrumentation that enhances patient safety and surgical performance across various minimally invasive procedures.
Encision Inc. (OTC PINK:ECIA), a medical device company specializing in Active Electrode Monitoring (AEM) Technology, reported financial results for its fiscal 2025 first quarter ended June 30, 2024. The company achieved:
- Total net revenue of $1.63 million
- Quarterly net income of $22,000 ($0.00 per diluted share)
- Product net revenue of $1.59 million
- Service net revenue of $39,000
- Gross margin on product net revenue increased to 58% from 52% in the previous year
The improved performance is attributed to higher operating efficiencies and increased selling prices. CEO Gregory Trudel highlighted the company's progress in sales channel investment and technology development, as well as efforts to create new service revenue streams.
Encision Inc. (OTCPK:ECIA), a medical device company specializing in Active Electrode Monitoring (AEM) Technology, reported its fiscal 2024 fourth quarter and full-year results. Key points:
- Q4 net revenue: $1.53 million, down from $1.81 million year-over-year
- Q4 net loss: $409,000 or $(0.03) per diluted share
- Full-year net revenue: $6.59 million, down from $7.35 million in fiscal 2023
- Full-year net loss: $692,000 or $(0.06) per diluted share
- Gross margin decreased to 42% in Q4 and 48% for the full year
The company faced challenges due to COVID-19 impacts and market changes but remains optimistic about fiscal 2025 with a strengthening sales channel and new product introduction.
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Encision Inc. (OTC PINK:ECIA) has signed a Supplier Agreement with Human Xtensions, marking a strategic partnership aimed at enhancing robotic surgery performance. Encision will provide manufacturing services, including procurement, assembly, and testing of products tailored to Human X's specifications. This collaboration aims to elevate clinical performance through Encision's innovative Active Electrode Monitoring (AEM) Technology and advanced surgical instruments. Gregory J. Trudel, CEO, expressed enthusiasm for the partnership's potential to set new standards in surgical precision. However, the company acknowledges inherent risks in product development and market acceptance.
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.