Welcome to our dedicated page for Encision news (Ticker: ECIA), a resource for investors and traders seeking the latest updates and insights on Encision stock.
Encision Inc. (ECIA) is a medical device company based in Boulder, Colorado that designs and markets surgical instrumentation for minimally invasive procedures and owns patented Active Electrode Monitoring (AEM®) technology. The Encision news feed on Stock Titan brings together the company’s official press releases and other coverage related to its operations, financial performance, and technology.
Investors and observers can use this page to follow Encision’s quarterly and annual financial results, where the company reports product and service net revenue, gross profit, operating expenses, and net income or loss. These updates often include commentary on gross margins, material costs, operating efficiencies, and the balance between product and service revenue.
News items also cover corporate developments such as private placements of common stock, agreements with partners, and board or executive changes disclosed through press releases and SEC filings. For example, Encision has announced a Master Services Agreement with Vicarious Surgical Inc. for design services related to a robotic surgical system, as well as leadership transitions reported in 8-K filings.
Technology-focused updates highlight Encision’s AEM platform, its role in preventing dangerous stray energy burns in minimally invasive surgery, and the company’s efforts to develop new devices, including products for the ear, nose and throat (ENT) space. Commentary in these releases provides context on how Encision is addressing trends in laparoscopic and robotic surgery, collaborating with partners, and pursuing new revenue opportunities.
Use this page to review Encision’s historical and recent announcements in one place, compare narratives across reporting periods, and understand how management describes the company’s strategy, challenges, and progress over time.
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.
Encision Inc. (PK:ECIA) reported financial results for Q3 FY2021, revealing net revenue of $2.16 million and a net income of $599 thousand ($0.05 per diluted share), aided by debt extinguishment income. This compares to net revenue of $2.04 million and a net income of $70 thousand in Q3 FY2020. For nine months, net revenue was $5.39 million with a net income of $469 thousand, up from a net loss of $82 thousand last year. The gross margin slightly declined to 51%. Challenges included a 2% revenue decrease due to COVID-19 restrictions.