Acutus Medical Reports Second Quarter and Year-To-Date 2024 Financial Results

Core Insights - Acutus Medical reported a significant revenue increase of 172% year-over-year for Q2 2024, reaching $4.1 million compared to$1.5 million in Q2 2023 [2][3] - The company achieved a reduction in operating expenses by 47%, totaling $2.2 million for Q2 2024, down from$4.2 million in the same period last year [2][3] - Acutus recorded a gain of $2.9 million from the sale of a business, marking a 38$4.1 million, a 172% increase from $1.5 million in Q2 2023 [3] - Gross margin improved to negative 8$0.4 million for Q2 2024, with a net loss per share of $0.01, compared to a net loss of$4.2 million and a net loss per share of $0.15 in Q2 2023 [4] Discontinued Operations - Loss on discontinued operations decreased significantly to$0.6 million in Q2 2024 from $26.1 million in the same quarter last year [5] Cash Position - As of June 30, 2024, the company had cash, cash equivalents, marketable securities, and restricted cash totaling$13.3 million [4][10] Strategic Outlook - The company announced a plan to realign resources to focus on the left-heart access distribution business and will no longer provide financial guidance [6]