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Motus GI(MOTS) - 2024 Q1 - Quarterly Report
2024-05-14 20:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 For the transition period from________ to_________. Commission File Number: 001-38389 Motus GI Holdings, Inc. (Exact name of registrant as specified in its charter) | Delaware | 81-4042793 | | --- | --- ...
Motus GI(MOTS) - 2024 Q1 - Quarterly Results
2024-05-14 20:21
First Quarter and Recent Business Highlights Exhibit 99.1 Motus GI Reports First Quarter 2024 Financial Results and Provides Corporate Update FORT LAUDERDALE, FL, May 14, 2024 – Motus GI Holdings, Inc., (OTCQB: MOTS) ("Motus GI" or the "Company"), a medical technology company focused on improving endoscopic outcomes and experiences, today reported its financial results for the first quarter ended March 31, 2024, and provided a corporate update. "We are excited by the initial traction made in the limited U.S ...
Motus GI(MOTS) - 2023 Q4 - Annual Report
2024-03-18 20:11
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 For the transition period from ________ to ________ Commission file number: 001-38389 Motus GI Holdings, Inc. (Exact name of registrant as specified in its charter) | DELAWARE | 81-4042793 | | - ...
Motus GI(MOTS) - 2023 Q4 - Annual Results
2024-03-18 20:05
Exhibit 99.1 Fourth Quarter and Recent Business Highlights ■ Initiated over the last quarter, a limited U.S. commercial launch of the Pure-Vu® EVS Gastro and Gen 4 Colon system. This initial phase of the rollout is targeting existing customers, which is currently on track to be completed by end of the first quarter of 2024. The new device, which features a sleeveless Flex-Channel design, has been well received by early-adopters, who have commented on the system's improved handling and easy setup. The Compan ...
Motus GI(MOTS) - 2023 Q3 - Quarterly Report
2023-11-13 21:11
Revenue and Cost of Revenue - Revenue for Q3 2023 totaled $86.0 thousand, a decrease of $192.0 thousand compared to $278.0 thousand in Q3 2022, primarily due to reduced sales force from restructuring[94] - Cost of revenue for Q3 2023 was $48.0 thousand, a decrease of $35.0 thousand compared to $83.0 thousand in Q3 2022, mainly due to fewer disposable units sold[95] - Revenue for the nine months ended September 30, 2023, totaled $255.0 thousand, a decrease of $228.0 thousand compared to $483.0 thousand in the same period in 2022, due to reduced EVS product sales[103] - Cost of revenue for the nine months ended September 30, 2023 decreased by $42.0 thousand to $283 thousand, primarily due to a net decrease of $104.0 thousand in system disposable evaluation and commercial units sold, partially offset by an increase of $62.0 thousand in inventory impairment[104] Research and Development Expenses - Research and development expenses for Q3 2023 were $0.7 million, a decrease of $0.9 million compared to $1.6 million in Q3 2022, driven by lower clinical trial and personnel costs[97] - Research and development expenses decreased by $1.4 million to $2.9 million for the nine months ended September 30, 2023, driven by reductions in salaries, clinical studies, and professional services costs[105] Sales and Marketing Expenses - Sales and marketing expenses for Q3 2023 were $0.2 million, a decrease of $1.1 million compared to $1.3 million in Q3 2022, primarily due to reduced personnel and tradeshow costs[99] - Sales and marketing expenses decreased by $2.2 million to $1.4 million for the nine months ended September 30, 2023, primarily due to lower salaries and personnel costs supporting the Pure-Vu System commercialization[106] General and Administrative Expenses - General and administrative expenses for Q3 2023 were $1.6 million, a decrease of $0.4 million compared to $2.0 million in Q3 2022, mainly due to lower personnel and stock compensation costs[101] - General and administrative expenses decreased by $1.1 million to $5.1 million for the nine months ended September 30, 2023, mainly due to reductions in share-based compensation and professional fees[107] Pure-Vu System and FDA Clearance - The Pure-Vu System achieved adequate bowel cleanliness rates greater than 95% in clinical studies, with potential to reduce dependency on conventional bowel prep regimens[85] - The Pure-Vu EVS System received FDA 510(k) clearance in October 2023, with market introduction expected in the coming months, and cost of goods reduced by approximately 50% compared to the current EVS device[89] Financial Position and Liquidity - As of September 30, 2023, the company had $5.7 million in cash and cash equivalents and an accumulated deficit of $151.4 million, with a net loss of $10.1 million for the nine months ended September 30, 2023[90] - As of September 30, 2023, the company had cash and cash equivalents of $5.7 million and an accumulated deficit of $151.4 million, raising substantial doubt about its ability to continue as a going concern[109][112] - Net cash used in operating activities for the nine months ended September 30, 2023 was $9.3 million, including a net loss of $10.1 million, partially offset by non-cash expenses and changes in working capital[114] - The company raised $3.0 million in net proceeds from a private placement on May 17, 2023, issuing common stock and warrants[110] - The company's long-term debt includes a Convertible Note with an outstanding principal balance of $4.0 million and Tranche B and C loans totaling $5.3 million as of September 30, 2023[123][124] - The company expects to require significant additional capital to fund operations and may seek equity, debt financing, or strategic transactions[117] - The company's 2021 Shelf Registration Statement allows for the issuance of up to $100.0 million in securities, with $25.0 million allocated to an at-the-market offering program[118][119] Strategic and Financing Alternatives - The company continues to explore strategic and financing alternatives, including potential acquisitions, mergers, or asset sales, to support the commercialization of the Pure-Vu System[88]
Motus GI(MOTS) - 2023 Q2 - Quarterly Report
2023-08-14 20:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from________ to_________. Commission File Number: 001-38389 Motus GI Holdings, Inc. (Exact name of registrant as specified in its charter) | Delaware | 81-4042793 | | --- | --- ...
Motus GI(MOTS) - 2023 Q1 - Quarterly Report
2023-05-10 20:10
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from________ to_________. Commission File Number: 001-38389 Motus GI Holdings, Inc. (Exact name of registrant as specified in its charter) | Delaware | 81-4042793 | | --- | --- ...
Motus GI(MOTS) - 2022 Q4 - Annual Report
2023-03-31 20:11
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, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number: 001-38389 Motus GI Holdings, Inc. | DELAWARE | | 81-4042793 | | --- | --- | --- | | (State or other jurisdiction of | ...
Motus GI(MOTS) - 2022 Q3 - Earnings Call Transcript
2022-11-14 23:44
Motus GI Holdings, Inc. (NASDAQ:MOTS) Q3 2022 Earnings Conference Call November 14, 2022 4:30 PM ET Company Participants Garth Russell - Managing Director-LifeSci Advisors, LLC Tim Moran - Chief Executive Officer Andrew Taylor - Chief Financial Officer Mark Pomeranz - President & Chief Operating Officer Conference Call Participants Steve Lichtman - Oppenheimer and Co. Ben Haynor - Alliance Global Partners Operator Ladies and gentlemen, thank you for standing by, and welcome to the Motus GI Holdings, Inc. Th ...
Motus GI(MOTS) - 2022 Q3 - Quarterly Report
2022-11-14 21:27
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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 September 30, 2022 | Title of Each Class | Trading Symbol(s) | Name of Each Exchanged on Which Registered | | --- | --- | --- | | Common Stock, $0.0001 par value per share | MOTS | The Nasdaq Capital Market | or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the ...