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Assure Holdings Corp. (NASDAQ: IONM) reported full-year 2022 financial results, revealing a significant decline in gross revenue to $28.9 million from $36.6 million in 2021. Net revenue dropped to $11 million from $29.2 million, with a net loss of $30.1 million versus $2.8 million in the previous year. Despite these challenges, Assure achieved a record 21,600 managed cases, a 24% increase year-over-year. The company initiated cost-cutting measures and expanded its remote neurology services, which contributed to a 57% rise in total cash receipts to $21 million. Assure expects to achieve profitability and positive cash flow in 2023.
Assure Holdings Corp. (NASDAQ: IONM) will host a conference call on April 3, 2023, at 9:00 a.m. ET, to discuss its financial results for Q4 and the full year ending December 31, 2022. The call will include a live webcast and an audio-only option for investors. The dial-in number for the conference is 1-877-545-0320 (toll-free) or 1-973-528-0002 (international), with a Conference ID of 486022. A replay will be available post-call until April 17, 2023. Assure specializes in intraoperative neuromonitoring and remote neurology services, providing crucial support during various surgical procedures, ensuring patient safety and operational efficiency.
Assure Holdings Corp. (NASDAQ: IONM) has regained compliance with Nasdaq's minimum bid price requirement of $1.00 per share, confirmed on March 20, 2023. The company previously faced non-compliance notification from Nasdaq on October 11, 2022, due to its stock trading below the required price for over 30 consecutive days. However, the stock's closing bid price met compliance criteria for 10 consecutive business days before the confirmation. Assure specializes in intraoperative neuromonitoring and remote neurology services, ensuring patient safety during surgeries. It is accredited by The Joint Commission, aiming to deliver exceptional surgical care.
Assure Holdings Corp. (NASDAQ: IONM) announced a 20-for-1 reverse stock split effective March 4, 2023, to comply with NASDAQ minimum bid price requirements. Post-split, the total number of authorized shares will decrease from 180 million to 9 million. This consolidation will adjust the shares held by each stockholder, with no fractional shares issued. As of the split, approximately 1,101,098 shares will be outstanding. The reverse split aims to enhance the attractiveness of the stock price for investors while maintaining stockholders' percentage ownership and voting power. Trading on a split-adjusted basis will commence on March 6, 2023.
Assure Holdings Corp. (NASDAQ: IONM) announced that it will present at the Gravitas 6th Annual Growth Conference on March 2, 2023, in Vancouver, British Columbia. CEO John A. Farlinger is scheduled to present at 1:20 PM PST and will engage in Q&A sessions, individual meetings, and a panel discussion focused on industry developments. Farlinger highlighted the conference as a platform to discuss cost reduction and profitability strategies. The event will include various presentations and discussions from industry leaders, attracting investors from across North America.
Assure Holdings Corp. (NASDAQ: IONM), a leading provider of intraoperative neuromonitoring, has been invited to present at the Third Annual Winter Wonderland – Best Ideas Virtual Investor Conference from February 21 to 24, 2023. The presentation, led by Chief Financial Officer John Price, is scheduled for 3:30 pm ET on February 21. Attendees can join the live webcast and schedule one-on-one meetings with management during the conference. This conference showcases 37 best ideas recommended by qualified institutional investors, aiming to connect companies with potential investors.