Avinger (AVGR) Reports Q2 Loss, Lags Revenue Estimates

Company Performance - Avinger reported a quarterly loss of $2.82 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.43, and an improvement from a loss of $8.85 per share a year ago, indicating a surprise of -555.81% [1] - The company generated revenues of $1.85 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 27.57% and down from $2.04 million in the same quarter last year [1] - Avinger has not surpassed consensus EPS or revenue estimates over the last four quarters [1] Stock Performance - Avinger shares have declined approximately 54.6% since the beginning of the year, contrasting with the S&P 500's gain of 9% [2] - The current Zacks Rank for Avinger is 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [4] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.42 on revenues of $2.73 million, and for the current fiscal year, it is -$2.08 on revenues of $10.5 million [4] - The trend of estimate revisions for Avinger is mixed, and future changes in estimates will be closely monitored following the recent earnings report [4] Industry Context - The Medical - Instruments industry, to which Avinger belongs, is currently ranked in the top 42% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [5] - NeuroPace, Inc., another company in the same industry, is expected to report a quarterly loss of $0.29 per share, reflecting a year-over-year change of +19.4%, with revenues projected at $18.72 million, up 13.4% from the previous year [5]