Financial Data and Key Metrics Changes - Total revenue for the full year 2021 was $10.1 million, an increase of 16% from the prior year [24] - Fourth quarter revenue was $2.4 million, reflecting the impact of hospital access limitations and staffing shortages due to COVID-19 [24] - Gross margin for the full year 2021 was 34%, the highest annual gross margin in five years, and 30% in the fourth quarter [25] Business Line Data and Key Metrics Changes - Catheter sales increased approximately 20% year-over-year, indicating user case growth [24] - The company launched 23 new accounts during the year, including eight new accounts in the fourth quarter [7] Market Data and Key Metrics Changes - The emergence of the Omicron variant negatively impacted procedural volume and revenue in the first quarter of 2022 [9] - The company noted that approximately 80% of its business is in the hospital market, which remains strong despite reimbursement changes in office-based labs [43] Company Strategy and Development Direction - The company plans to expand the availability of the Lightbox 3 next-generation imaging console to full commercial launch in the second quarter of 2022 [10] - Avinger is developing its first product for the treatment of coronary artery disease (CAD), which is seen as a transformational opportunity due to its large addressable market [10][16] - The company is focused on expanding its platform through the treatment of peripheral artery disease (PAD) and developing new catheter usage opportunities [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improving market conditions and a return to normal procedural volume in the second quarter of 2022 [9] - The company remains committed to its mission of changing the way vascular disease is treated and supporting physicians [23] Other Important Information - The company raised $7.6 million in gross proceeds through a preferred stock offering in January 2022 [28] - A reverse stock split was executed in March to regain compliance with NASDAQ stock market minimum bid rules [28] Q&A Session Summary Question: Impact on clinician workflow with the Lightbox 3 - Management highlighted the improved efficiency and clarity of imaging with the Lightbox 3, which has received positive feedback from physicians [32][33] Question: Manufacturing and logistical impacts of Lightbox 3 - The company has added flexibility to its operations for assembling and fulfilling orders for the Lightbox 3, which is expected to positively impact future performance [38] Question: Sequential move from Q4 2021 to Q1 2022 - Management noted that the impact of COVID-19 was significant in Q1 2022, but they are optimistic about recovery in procedural volumes [41] Question: Reimbursement changes and their impact - Management indicated that the reduction in office-based lab reimbursement has led to price pressure, but the hospital market remains strong [43] Question: Coronary market opportunity - Management discussed the potential for Avinger in the coronary market, estimating about 50,000 CTO PCI procedures performed annually in the U.S. [49][50] Question: Financial health of hospitals and OBLs - Management acknowledged staffing shortages in hospitals but expressed optimism about pent-up demand for elective procedures [54] Question: Achieving profitability - Management emphasized the importance of revenue growth and the potential for improved gross margins as catheter usage increases [59]

Avinger, Inc.’s (NASDAQ:AVGR) Q3 Earnings Conference Call November 11, 2021 4:30 PM ET Company Participants Jeff Soinski – CEO Mark Weinswig – CFO Matt Kreps – Managing Director Conference Call Participants Marc Weisenberger – B. Riley Securities Nathan Weinstein – Aegis Capital Operator Greetings and welcome to Avinger's 2021 Third Quarter Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instruction ...

Avinger, Inc. (NASDAQ:AVGR) Q2 2021 Results Conference Call August 10, 2021 4:30 PM ET Company Participants Matt Kreps - Investor Relations Jeff Soinski - Chief Executive Officer Mark Weinswig - Chief Financial Officer Conference Call Participants Marc Wiesenberger - B. Riley Securities Nathan Weinstein - Aegis Capital Corporation Operator Good day, ladies and gentlemen, and welcome to the Avinger Second Quarter 2021 Results Call. All lines have been placed on a listen-only mode and the floor will be open f ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2021 was $2.6 million, a 13% increase from the same quarter last year, marking the highest sales in the past four years [7][24] - Gross margin improved to 35%, up from 22% in Q1 2020, indicating enhanced operational efficiency [24] - Net loss attributable to common shareholders decreased to $5.1 million from $5.9 million year-over-year [25] Business Line Data and Key Metrics Changes - Catheter or disposable sales reached an almost four-year high, driven by strong demand for Pantheris SV and Tigereye [24] - Total image-guided CTO revenue increased by over 60% year-over-year, converting a previously declining sales franchise into a growth driver [10][34] - Pantheris SV catheter was launched into more than 100 accounts, showing significant market gains [12] Market Data and Key Metrics Changes - The rollout of COVID-19 vaccines and easing of restrictions have allowed greater access for sales and clinical support teams at customer sites [6] - The company opened eight new accounts in Q1 2021, adding to nine accounts launched in Q4 2020 [8] Company Strategy and Development Direction - Avinger is strategically expanding its sales force by approximately 20% in 2021 to capture more sites and grow market share [21][37] - The company plans to launch the Lightbox 3 next-generation imaging console in the second half of 2021, which is expected to enhance market penetration and operational efficiency [15][44] - Avinger is exploring the Coronary Artery Disease market, aiming to develop a new image-guided CTO crossing device for coronary arteries [17][19] Management's Comments on Operating Environment and Future Outlook - Management believes 2021 will be an inflection year with multiple growth drivers aligning, including increased market penetration of Pantheris SV and the rollout of Tigereye [8][22] - The company is optimistic about the recovery from COVID-19 impacts, noting strong engagement with sales reps and physicians [40][42] Other Important Information - Cash and cash equivalents totaled $30.4 million at March 31, 2021, up from $22.2 million at year-end, providing a runway for strategic initiatives [26] - The company amended its loan agreement to extend the interest-only period and maturity date, improving financial flexibility [27] Q&A Session Summary Question: Discussion on the Tigereye commercial launch and customer appeal - Management reported positive feedback on Tigereye's efficiency and enhanced imaging capabilities, with a goal of launching in 40 accounts by the end of the quarter [31][33] Question: Details on the expansion of the sales team - The sales organization is expected to grow by about 20%, adding five to six new members, with a focus on developing new accounts and expanding geographic reach [36][38] Question: Market outlook as the company recovers from pandemic lows - Management noted a strong recovery in business, with widespread vaccination and easing restrictions contributing to positive growth [40][42] Question: Progress on the Lightbox development - The company anticipates filing for U.S. pre-marketing clearance for Lightbox 3 in mid-2021, with initial commercial launch expected by the end of the year [44][45]

Avinger, Inc. (NASDAQ:AVGR) Q4 2020 Earnings Conference Call March 11, 2021 4:30 PM ET Company Participants Matt Kreps - Investor Relations Jeff Soinski - Chief Executive Officer Mark Weinswig - Chief Financial Officer Conference Call Participants Nathan Weinstein - Aegis Capital Operator Greetings, and welcome to the Avinger's 2020 Fourth Quarter Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Inst ...