The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Avinger (AVGR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.Avinger is one of 1048 individual stocks in the Medical sector. Collectively, these compan ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2024 was $1.9 million, unchanged from Q4 2023 and Q1 2023 [11] - Gross margin decreased to 18% in Q1 2024 from 20% in Q4 2023 and 34% in Q1 2023, primarily due to lower production activity [11] - Operating expenses increased to $5.4 million in Q1 2024 from $5.0 million in Q4 2023 and $4.9 million in Q1 2023, attributed to increased sales headcount and expenses related to the Zylox-Tonbridge transaction [11] - Net loss for Q1 2024 was $5.5 million, compared to $5.0 million in Q4 2023 and $4.6 million in Q1 2023 [12] - Adjusted EBITDA loss was $3.9 million in Q1 2024, an improvement from a loss of $4.3 million in Q4 2023, remaining the same as Q1 2023 [12] - Cash and cash equivalents totaled $7.2 million as of March 31, 2024 [13] Business Line Data and Key Metrics Changes - The peripheral business continued to progress, with new sales representatives gaining clinical proficiency and building sales pipelines [10] - The Tigereye ST CTO crossing device launched in the second half of the previous year is increasing market penetration [10] Market Data and Key Metrics Changes - Avinger announced a strategic partnership with Zylox-Tonbridge, which will facilitate entry into the greater China market [6][8] - Zylox will invest up to $15 million in Avinger, with the first tranche of $7.5 million already funded [8] Company Strategy and Development Direction - Avinger is focusing on expanding its product offerings in the coronary market, with plans to file an IDE submission for a CTO crossing device by Q3 2024 [9] - The partnership with Zylox-Tonbridge is expected to strengthen Avinger's balance sheet and provide access to new markets, potentially improving gross margins and cost structure [8] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the rapid progress in the partnership with Zylox and the development of the coronary product [14] - The timeline for product registration in China is projected to be completed by the end of 2025, with manufacturing capabilities expected to be validated within the same timeframe [18] Other Important Information - CRG Partners exchanged its Series A preferred stock for new Series A-1 preferred stock, extending principal payments on Avinger's debt to Q1 2027 [13] Q&A Session Summary Question: Anticipated commercialization timeline for products in China - Management expects product registration in China could be achieved by the end of 2025, with manufacturing capabilities coming online within that timeframe [18] Question: Commercialization of products in Europe - Avinger currently markets products under CE Mark in Germany and is prioritizing regulatory clearance efforts for Zylox in China [20] Question: Status of IDE submission for CTO crossing system - The IDE submission requires completion of Phase 3 verification and validation testing, with a target to file by the end of Q3 2024 [22]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Title of each class: Trading Symbol(s): Name of each exchange on which registered: Common Stock, par value $0.001 per share AVGR The Nasdaq Capital Market (Mark One) Commission File Number: 001-36817 ...

Financial Performance - Avinger reported first quarter 2024 revenue of $1.9 million, maintaining the same revenue level as the previous quarter and the same quarter last year [2]. - Gross margin for the first quarter of 2024 was 18%, down from 20% in the fourth quarter of 2023 and 34% in the first quarter of 2023 [4]. - Operating expenses increased to $5.4 million in the first quarter of 2024, compared to $5.0 million in the fourth quarter of 2023 and $4.9 million in the first quarter of 2023 [4]. - The net loss for the first quarter of 2024 was $5.5 million, compared to $5.0 million in the fourth quarter of 2023 and $4.6 million in the first quarter of 2023 [4]. - Adjusted EBITDA for the first quarter of 2024 was a loss of $3.9 million, an improvement from a loss of $4.3 million in the fourth quarter of 2023 [5]. Strategic Initiatives - Avinger initiated Phase III studies for its proprietary image-guided coronary CTO-crossing system, with an IDE submission anticipated in Q3 2024 [2]. - A strategic partnership with Zylox-Tonbridge was announced, including up to $15 million in equity funding, with $7.5 million funded in March 2024 [2]. - Avinger aims to redefine the coronary CTO market with its innovative image-guided approach, targeting established reimbursement codes [2]. Cash and Assets - Cash and cash equivalents totaled $7.2 million as of March 31, 2024 [5]. - Total current assets increased to $14,121,000 as of March 31, 2024, up from $12,162,000 on December 31, 2023, representing a growth of 16.1% [18]. - Cash and cash equivalents rose to $7,174,000, compared to $5,275,000 at the end of 2023, marking an increase of 36.1% [18]. - Accounts receivable grew to $1,377,000, up from $1,014,000, indicating a significant increase of 36% [18]. - Inventories decreased to $4,562,000 from $5,298,000, a decline of 13.9% [18]. - Right of use asset increased to $1,991,000 from $1,102,000, a significant increase of 80.8% [18]. - Additional paid-in capital increased to $422,157,000 from $414,493,000, a rise of 1.8% [18]. Liabilities and Deficits - Total liabilities increased to $20,914,000 as of March 31, 2024, up from $19,972,000 at the end of 2023, reflecting a rise of 4.7% [18]. - Total stockholders' deficit improved to $(4,054,000) from $(6,202,000), showing a reduction of 34.6% [18]. - Accrued compensation increased to $2,523,000 from $2,311,000, an increase of 9.2% [18]. - Borrowings rose to $14,751,000 from $14,293,000, reflecting a growth of 3.2% [18].

Financial Data and Key Metrics Changes - Total revenue for Q4 2023 was $1.9 million, compared to $1.8 million in Q3 2023 and $2.0 million in Q4 2022 [24] - Gross margin for Q4 2023 was 20%, down from 21% in Q3 2023 and 34% in Q4 2022, primarily due to lower production activity and increased non-cash stock compensation [24] - Operating expenses for Q4 2023 were $5.0 million, up from $4.4 million in Q3 2023 and $4.5 million in Q4 2022, driven by increased sales headcount and corporate expenses related to the Zylox-Tonbridge transaction [25] - Net loss for Q4 2023 was $5.0 million, compared to $4.5 million in Q3 2023 and $4.2 million in Q4 2022 [25] - Adjusted EBITDA for Q4 2023 was a loss of $4.3 million, compared to a loss of $3.7 million in Q3 2023 and a loss of $3.8 million in Q4 2022 [25] - Cash and cash equivalents totaled $5.3 million as of December 31, 2023, with an additional $7.5 million raised in March 2024 from the Zylox-Tonbridge investment [27] Business Line Data and Key Metrics Changes - The company expanded its U.S. sales force by more than 25%, adding six sales professionals since the end of Q3 2023 [14] - Tigereye ST revenue increased by over 50% in Q4 2023 compared to Q3 2023, with 32 physicians at 25 sites using the device since its introduction [16] - Pantheris LV was limited launched in Q3 2023, with 19 physicians performing approximately 50 cases since then, with expectations for full commercial launch by mid-2024 [18] Market Data and Key Metrics Changes - The atherectomy market in the U.S. is valued at approximately $600 million to $700 million, characterized by significant competition [33] - The atherectomy market in China is still in early stages, with only a few products approved, presenting a significant opportunity for growth [33] Company Strategy and Development Direction - Avinger announced a strategic partnership with Zylox-Tonbridge, which includes an equity financing agreement of up to $15 million and exclusive rights for Zylox to distribute Avinger's products in Greater China [8][9] - The partnership aims to open new markets and improve cost structures, with Avinger also gaining access to Zylox's peripheral products for distribution in the U.S. and Germany [10][12] - The company is focusing R&D efforts on developing its first coronary product application, leveraging its image-guided technology to address coronary artery disease [20][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the regulatory clearance process for products in China, estimating a timeline of 9 to 15 months for Zylox to begin commercialization [30] - The company is confident in its manufacturing capabilities to support both U.S. growth and Zylox's needs in China [35] - Management anticipates that new sales personnel will become productive within approximately six months, contributing to revenue growth [37] Other Important Information - The company has extended its lease for its manufacturing facility to ensure support for Zylox's business prior to their manufacturing capability being cleared [35] - The strategic partnership and related transactions are seen as critical steps to strengthen Avinger's balance sheet and improve its capitalization structure [12][13] Q&A Session Summary Question: How long does it take for Zylox to get approval in China for commercialization? - Management indicated that the clearance process is anticipated to take around 9 to 15 months, aiming for a launch in the first half of 2025 [30] Question: What is the size of the Greater China opportunity for peripheral vascular catheters? - The atherectomy market in China is still developing, with significant opportunities for growth as it is less competitive than the U.S. market [33] Question: Does the company have enough resources to support Zylox while growing its U.S. business? - Management confirmed that current manufacturing capabilities can support both U.S. growth and Zylox's needs [35] Question: How long does it take for new sales personnel to become productive? - Typically, it takes around six months for new hires to start contributing to top-line growth [37] Question: How long will it take to reach $2.5 million per quarter in revenue? - Management expects to achieve this growth as new hires become productive and new products are launched, targeting the second half of the year and into 2025 [40]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36817 AVINGER, INC. (Exact name of registrant as specified in its charter) Delaware 20-8873453 (State or other jurisdiction of (I.R.S. Employer incorporation or organ ...

Financial Performance - Fourth quarter 2023 revenue was $1.9 million, a sequential increase of 5% from $1.8 million in Q3 2023, but a decrease from $2.0 million in Q4 2022[5]. - Gross margin for Q4 2023 was 20%, down from 21% in Q3 2023 and 34% in Q4 2022, primarily due to lower production activity and increased non-cash stock-based compensation[6]. - Operating expenses for Q4 2023 were $5.0 million, compared to $4.4 million in Q3 2023 and $4.5 million in Q4 2022, driven by increased sales headcount and corporate expenses related to the Zylox-Tonbridge transaction[6]. - Net loss for Q4 2023 was $5.0 million, compared to $4.5 million in Q3 2023 and $4.2 million in Q4 2022[6]. - Adjusted EBITDA for Q4 2023 was a loss of $4.3 million, compared to a loss of $3.7 million in Q3 2023 and a loss of $3.8 million in Q4 2022[7]. - The net loss for the three months ended December 31, 2023, was $5,024 thousand, compared to a net loss of $4,476 thousand for the same period in 2022, representing a 12.2% increase in losses year-over-year[19]. - Adjusted EBITDA for the twelve months ended December 31, 2023, was $(15,406) thousand, slightly improved from $(15,634) thousand for the same period in 2022[19]. - The accumulated deficit increased to $(420,696) thousand from $(402,376) thousand, indicating a worsening financial position[20]. - The company reported stock-based compensation of $237 thousand for the three months ended December 31, 2023, compared to $219 thousand for the same period in 2022, a 8.2% increase[19]. Cash and Assets - Cash and cash equivalents totaled $5.3 million as of December 31, 2023, with an additional $7.5 million raised in March 2024 from the Zylox-Tonbridge investment[8]. - Total current assets decreased to $12,162 thousand as of December 31, 2023, down from $20,987 thousand a year earlier, reflecting a 42.5% decline[20]. - Cash and cash equivalents significantly decreased to $5,275 thousand from $14,603 thousand, indicating a 63.9% reduction year-over-year[20]. - Total liabilities slightly decreased to $19,972 thousand as of December 31, 2023, compared to $20,049 thousand in the previous year[20]. - The company has a total stockholders' deficit of $(6,202) thousand as of December 31, 2023, compared to a positive equity of $4,146 thousand a year earlier[20]. Strategic Initiatives - A strategic partnership with Zylox-Tonbridge was announced, providing up to $15 million in funding to support U.S. growth initiatives and product development[2]. - The sales team was expanded by over 25%, enhancing presence in key markets such as the Midwest, Texas, and Florida[2]. - Development of a proprietary image-guided coronary CTO-crossing system is advancing, with an IDE submission anticipated in Q3 2024[4]. - The company aims to redefine the coronary market with a simplified approach to crossing chronic total occlusions, leveraging established reimbursement codes[4]. Liabilities and Compensation - Accounts payable increased to $777 thousand from $631 thousand, reflecting a 23.1% rise in current liabilities[20]. - Accrued compensation rose to $2,311 thousand from $1,401 thousand, representing a 64.9% increase year-over-year[20].

Avinger, Inc. (NASDAQ:AVGR) Q3 2023 Earnings Conference Call October 26, 2023 4:30 PM ET Company Participants Matt Kreps - Investor Relations Jeff Soinski - Chief Executive Officer Nabeel Subainati - Principal Financial Officer Conference Call Participants Operator Greetings. Welcome to the Avinger Third Quarter 2023 Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class: Trading Symbol(s): Name of each exchange on which registered: Common Stock, par value $0.001 per share AVGR The Nasdaq Capital Market FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-36 ...

Avinger, Inc. (NASDAQ:AVGR) Q2 2023 Earnings Conference Call July 27, 2023 4:30 PM ET Company Participants Matt Kreps - Darrow Associates Investor Relations Jeff Soinski - Chief Executive Officer Nabeel Subainati - Principal Financial Officer Conference Call Participants Swayampakula Ramakanth - H.C. Wainwright Operator Greetings and welcome to the Avinger Second Quarter 2023 Results Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presenta ...