Avinger (AVGR) Reports Q3 Loss, Tops Revenue Estimates

Company Performance - Avinger reported a quarterly loss of $1.82 per share, which was better than the Zacks Consensus Estimate of a loss of $2.03, and an improvement from a loss of $2.92 per share a year ago, indicating an earnings surprise of 10.34% [1] - The company posted revenues of $1.65 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 3.13%, although this represents a decline from year-ago revenues of $1.82 million [2] - Over the last four quarters, Avinger has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [2] Stock Performance - Avinger shares have declined approximately 69.2% since the beginning of the year, contrasting with the S&P 500's gain of 24.3% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.40 on revenues of $1.9 million, and for the current fiscal year, it is -$4.69 on revenues of $7.2 million [7] Industry Outlook - The Medical - Instruments industry, to which Avinger belongs, is currently ranked in the top 25% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - The performance of Avinger’s stock may be influenced by the overall outlook for the industry, as empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions [5][8]