Revenue and Financial Performance - Revenue from Continuing Operations for 2024 was $20.2 million, an increase of 181% compared to $7.2 million in 2023[3]. - Net loss from continuing operations was $4.6 million for 2024, with a net loss per share of $0.16, compared to a net loss of $11.9 million and $0.40 per share in 2023[5]. - Acutus recorded a gain on the sale of business amounting to $10.8 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 $8.6 million in 2023, reflecting reduced discretionary spending[4]. - Loss on discontinued operations was $5.0 million for 2024, significantly reduced from $69.7 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 $26.2 million at the beginning of the period[6][20]. - Total current assets decreased to $25.6 million in 2024 from $46.3 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].
Acutus Medical(AFIB) - 2024 Q4 - Annual Results