ACUTUS MEDICAL INC - AFIB STOCK NEWS

On April 20, 2023, Acutus Medical, Inc. (Nasdaq: AFIB) reported preliminary unaudited revenue for Q1 2023, expected to be between $4.1 million and $4.2 million, an increase from $3.7 million in Q1 2022. This growth was attributed to higher AcQMap™ disposable revenue outside the U.S. and increased Service & Other Revenue. Despite supply chain challenges impacting results, cash burn is projected to decline by 35% year-over-year. The company also announced the publication of the RECOVER AF study data, emphasizing AcQMap’s role in enhancing patient care. Full financial results will be disclosed on May 11, 2023.

Acutus Medical announced promising findings from the RECOVER AF study, published in EP Europace, highlighting the advantages of AcQMap-guided ablations for patients undergoing retreatment of atrial fibrillation (AF). Results showed that 76% of patients treated with AcQMap experienced freedom from AF after one year, significantly better than the traditional approach. Notably, patients with prior pulmonary vein isolation (PVI) achieved a remarkable 91% success rate. The study underscores the potential of advanced mapping techniques, revealing that personalized therapy improves patient outcomes and addresses a critical unmet need in arrhythmia treatment. Acutus aims to establish AcQMap as the gold standard in electrophysiology, targeting a multi-billion dollar market and enhancing the efficiency of AF procedures.

Acutus Medical has granted 54,700 restricted stock units (RSUs) to seven newly hired employees as part of its 2022 Inducement Equity Incentive Plan. Approved by the Compensation Committee on April 1, 2023, these RSUs will vest over four years, subject to continued employment. This initiative aligns with Acutus' goal to enhance its workforce as it seeks to improve diagnostics and treatments for cardiac arrhythmias. Founded in 2011 and based in Carlsbad, California, Acutus aims to advance electrophysiology through innovative products and strategic partnerships while closely managing its expenses and cash burn.

Acutus Medical (AFIB) reported fourth-quarter revenue of $5.0 million, a 14% increase from $4.4 million a year prior. For the full year 2022, revenue totaled $16.4 million, down 5% from $17.3 million in 2021. The company achieved 19% growth in global mapping procedure volumes and reported its lowest cash burn since its IPO. Notably, a one-time gain of $35.9 million helped secure a positive net income of $15.1 million for Q4. Acutus expects 2023 revenue to range between $18.0-$21.0 million, indicating plans for growth through increased market adoption and expansion.

Acutus Medical (Nasdaq: AFIB) will announce its Q4 and full year 2022 financial results on March 16, 2023. The release will be followed by a conference call at 1:30 PM PT / 4:30 PM ET to discuss key financial results and recent developments. Interested participants can access the call via a registration link. A webinar will also be accessible through the investor relations website, with a replay made available post-call.

Acutus Medical, Inc. (Nasdaq: AFIB), a company focused on arrhythmia management, has granted a total of 14,500 restricted stock units (RSUs) to three new employees, effective March 1, 2023. This grant is part of the Company's 2022 Inducement Equity Incentive Plan and was approved by the Compensation Committee in compliance with Nasdaq Listing Rule 5635(c)(4). The RSUs will vest annually over four years, contingent upon the employees’ continued employment. Acutus aims to enhance the diagnosis and treatment of cardiac arrhythmias through innovative products and technologies, reinforcing its market position amidst ongoing industry challenges.

Acutus Medical (Nasdaq: AFIB) announced promising results from the AcQForce Flutter Study, which evaluated the AcQBlate FORCE sensing ablation catheter. The study reported a 94% acute success rate and no serious adverse events in 110 patients across 21 sites. Notably, the ablation time averaged 13.5 minutes, which is 33% shorter than traditional systems, and required significantly less irrigation volume. These findings, presented at the AF Symposium, support Acutus's upcoming PMA submission for U.S. market expansion and position AcQBlate as a potential growth driver for 2023 and beyond.

Acutus Medical, Inc. (Nasdaq: AFIB) announced the granting of equity awards on February 1, 2023, to 7 new employees under its 2022 Inducement Equity Incentive Plan. The Compensation Committee approved the issuance of 21,500 restricted stock units (RSUs), which will vest annually over four years, contingent upon the employees' continued employment. This initiative aligns with Nasdaq Listing Rule 5635(c)(4) and reflects Acutus's commitment to attracting talent in the arrhythmia management sector. The company aims to enhance diagnostics and treatments for cardiac arrhythmias through innovative products and technologies.

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.