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Acutus Medical, Inc. (Nasdaq: AFIB) is a pioneering company in the field of arrhythmia management, focused on improving the way cardiac arrhythmias are diagnosed and treated. Based in Carlsbad, California, and founded in 2011, Acutus is dedicated to advancing electrophysiology with innovative products and technologies that enable more efficient and effective treatments for complex arrhythmias.
Acutus Medical has attracted some of the most respected experts in electrophysiology and cardiac device manufacturing, creating a strong network of global collaborative partners. Their mission is to provide electrophysiologists with the highest quality suite of tools and exceptional clinical support to better understand and treat complex arrhythmias. This mission is driven by the need for advanced technology in the high-growth electrophysiology market, addressing unmet needs for evidence-based approaches to treating atrial fibrillation, ventricular tachycardia, and other complex arrhythmias.
The company's product portfolio includes the AcQMap® Mapping System, the AcQMap 3D Mapping Catheter, the AcQBlate® Force-Sensing Ablation Catheter, and the AcGuide™ Max 2.0 Steerable Sheath. These products are designed to provide a complete solution for catheter-based treatment of cardiac arrhythmias.
Recently, Acutus announced a strategic realignment to focus exclusively on the production and distribution of left-heart access products for Medtronic, Inc. This shift aims to optimize financial performance and maximize cash flow. As part of this restructuring, Acutus will wind down its electrophysiology mapping and ablation business, significantly reducing its workforce and operational expenses.
Financially, Acutus reported significant growth in revenue from its continuing operations, driven by its partnership with Medtronic. For example, first quarter 2024 revenue was $3.6 million, a 192% increase compared to the same period in 2023. The company has also seen improvements in gross margins and reductions in operating expenses, highlighting the benefits of its strategic focus.
Despite challenges, including the need to manage expenses and cash burn rates, Acutus remains committed to its mission and continues to innovate and support the medical community with advanced solutions for cardiac arrhythmia management.
Acutus Medical, focusing on arrhythmia management, announced a corporate restructuring aimed at improving financial stability. This includes a planned reduction in force and strategic realignment to enhance console utilization and procedure volume. The company expects to save $23-25 million annually and reduce quarterly cash burn by 30-40% by the end of 2022. Additionally, Acutus reported preliminary revenues of $4.2-4.4 million for Q4 2021, a significant increase from $2.6 million in Q4 2020. Full-year revenues are projected at $17.1-17.3 million, up from $8.5 million in 2020.
Acutus Medical (Nasdaq: AFIB) announced its participation in the 27th Annual AF Symposium, showcasing its AcQMap 3D Imaging and Mapping System and other technologies. Physicians from prestigious institutions will present live cases using Acutus technology to demonstrate its adaptability in treating various arrhythmias. Abstracts will highlight the efficiency of the AcQMap system, alongside the AcQCross Universal Transseptal Crossing System. This symposium unites global electrophysiology leaders to discuss advancements in atrial fibrillation management.
Acutus Medical has launched the AcQForce PFA-CE clinical study to evaluate its novel Pulsed Field Ablation (PFA) catheter and noncontact mapping technology for treating atrial fibrillation (AF). Initiated in the Czech Republic, the study aims to assess safety and performance in up to 60 patients. The AcQBlate Force catheter uniquely combines RF and PFA therapies while utilizing the AcQMap 3D Imaging System. Acutus aims to enhance treatment precision and patient outcomes through advanced technologies.
Acutus Medical reported a third quarter 2021 revenue of $4.6 million, up from $3.2 million year-over-year, driven by increased procedure volumes and sales of AcQMap products. The company achieved a significant three-fold growth in left heart access revenues and initiated a groundbreaking software release for mapping. However, the gross margin remained at -86%, worsening from -62% the previous year due to product mix issues. Operating expenses decreased slightly to $23.2 million, with a net loss of $28.5 million. Looking ahead, full-year sales are projected between $17.0 million and $17.5 million.
Acutus Medical (AFIB) is set to announce its third-quarter 2021 financial results on November 11, 2021. The company will host a conference call at 1:30 PM PT / 4:30 PM ET, where it will discuss financial outcomes and recent developments. Interested investors can join by dialing specific numbers or through the investor relations website. Acutus specializes in arrhythmia management, providing innovative electrophysiology products aimed at improving diagnosis and treatment efficiency.
Acutus Medical, listed as AFIB, announced Niamh Pellegrini's appointment to its Board of Directors, effective August 10, 2021. Pellegrini brings over 20 years of healthcare experience, currently serving as Chief Commercial Officer at Nevro, Inc. Her proven track record in business growth and product launches is expected to benefit Acutus in the electrophysiology sector. Concurrently, Shahzad Malik will step down from the board after a decade of service. Acutus focuses on innovating arrhythmia management through advanced technologies.
Acutus Medical, Inc. (AFIB) reported a remarkable revenue increase of $4.7 million for Q2 2021, significantly up from $1.1 million in Q2 2020, driven by higher procedure volumes and AcQMap console sales. The installed base of AcQMap consoles rose to 68 units. The company received US Investigational Device Exemption for its AcQBlate system. Despite a net loss of $28.7 million, cash reserves reached $81.2 million. The full-year revenue guidance remains at $22 million to $30 million, amidst ongoing COVID-19 challenges.
Acutus Medical (Nasdaq: AFIB) has announced FDA clearance and CE Mark approval for its software suite, AcQMap 8, which enhances the mapping of complex atrial arrhythmias. Key features include the AcQTrack algorithm that identifies abnormal conduction patterns and the SlowZone Locator, which maps areas of slow conduction. Clinical data shows targeting these patterns increases sinus rhythm success rates. AcQMap 8 integrates with existing systems, advancing arrhythmia treatments and improving patient outcomes.
Acutus Medical, a company focused on arrhythmia management, announced its participation in the 6th Annual Needham Virtual Med Tech & Diagnostics 1x1 Conference on August 17, 2021. This event will feature management meetings aimed at engaging with investors.
The company is dedicated to improving diagnosis and treatment of cardiac arrhythmias through innovative technologies. Established in 2011 and based in Carlsbad, California, Acutus has a wide range of electrophysiology products that enhance physician capabilities in treating patients.
Acutus Medical, a company specializing in arrhythmia management, will release its financial results for Q2 2021 on August 12, 2021. A conference call will follow at 1:30 PM PT / 4:30 PM ET to discuss these results and recent highlights. Acutus aims to transform the diagnosis and treatment of cardiac arrhythmias through innovative products and technologies, enhancing the efficiency of healthcare providers. Founded in 2011 and based in Carlsbad, California, the company continues to expand its global sales presence.
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