ASXC shares were up 10.3% at $2.04 in after-hours trading. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — closed the day down 0.1%.
Headquartered in North Carolina’s Research Triangle Park, the robotic surgery technology developer posted losses of $16.1 million, or 7¢ per share, on sales of $2.6 million for the three months ended Sept. 30, 2021, for a 6.5% bottom-line slide on massive sales growth from revenues of $814,000 this time last year.
Adjusted to exclude one-time items, losses per share were 6¢, which finished behind Wall Street projections of an even finish. The company beat the Street on revenues, though, as analysts were looking for sales of just $1 million.
“We are very proud of our recent performance as we continued to make significant progress towards our strategic focus areas despite the meaningful challenges we faced during the quarter as a result of the most recent COVID spike which impacted all of our key geographies,” Asensus Surgical President and CEO Anthony Fernando said in a news release. “As we look to the balance of 2021 and into 2022, we plan to continue this momentum to drive increased global adoption and advance the capabilities of Senhance to deliver on the promise of performance-guided surgery.”
Asensus Surgical did not offer 2021 financial guidance.