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Acutus Medical(AFIB) - 2024 Q4 - Annual Results
AFIBAcutus Medical(AFIB)2025-03-24 20:07

Revenue and Financial Performance - Revenue from Continuing Operations for 2024 was 20.2million,anincreaseof18120.2 million, an increase of 181% compared to 7.2 million in 2023[3]. - Net loss from continuing operations was 4.6millionfor2024,withanetlosspershareof4.6 million for 2024, with a net loss per share of 0.16, compared to a net loss of 11.9millionand11.9 million and 0.40 per share in 2023[5]. - Acutus recorded a gain on the sale of business amounting to 10.8million,a1910.8 million, a 19% increase compared to the previous year[11]. Cost and Expense Management - Gross margin on a GAAP basis improved to 5% for 2024 from negative 44% in 2023, driven by higher production volumes and reduced manufacturing overhead[3]. - Operating expenses for continuing operations decreased to 1.1 million in 2024 from 8.6millionin2023,reflectingreduceddiscretionaryspending[4].−Lossondiscontinuedoperationswas8.6 million in 2023, reflecting reduced discretionary spending[4]. - Loss on discontinued operations was 5.0 million for 2024, significantly reduced from 69.7millioninthepreviousyear[7].AssetandLiabilityChanges−Cash,cashequivalents,marketablesecurities,andrestrictedcashtotaled69.7 million in the previous year[7]. Asset and Liability Changes - Cash, cash equivalents, marketable securities, and restricted cash totaled 14.0 million as of December 31, 2024, down from 26.2millionatthebeginningoftheperiod[6][20].−Totalcurrentassetsdecreasedto26.2 million at the beginning of the period[6][20]. - Total current assets decreased to 25.6 million in 2024 from 46.3millionin2023[15].−Totalliabilitiesdecreasedto46.3 million in 2023[15]. - Total liabilities decreased to 40.2 million in 2024 from $54.8 million in 2023[15]. Strategic Decisions - The company will no longer provide financial guidance due to a realignment of resources to support the left-heart access distribution business[8].