Avinger(AVGR)2022-11-13 17:11Financial Data and Key Metrics Changes - Total revenue for Q3 2022 was 2.1 million in Q2 2022, driven by increased capital sales [36] - Gross margin for Q3 2022 was 35%, a 4 percentage point increase from 31% in Q2 2022, reflecting higher revenue levels and a shift in product mix [37] - Operating expenses for Q3 2022 were 4.4 million in Q2 2022, indicating tight control over expenses while advancing strategic initiatives [38] - Net loss for Q3 2022 was 4.2 million in Q2 2022 [38] - Adjusted EBITDA for Q3 2022 was a loss of 3.7 million in Q2 2022 [39] - Cash and cash equivalents totaled 5 million raised in August [40] Business Line Data and Key Metrics Changes - Capital sales were a significant contributor to revenue growth in Q3 2022, supported by the launch of the Lightbox 3 imaging console [10] - The Pantheris SV small vessel atherectomy device showed strong market performance, particularly in treating below-the-knee lesions [11] Market Data and Key Metrics Changes - The company is making progress in the enrollment of the IMAGE-BTK post-market study, with expectations to enroll up to 60 patients [13] - Interim findings from the IMAGE-BTK study showed a 90% reduction in percent stenosis and zero complications within 30 days post-procedure [14] Company Strategy and Development Direction - The company is focused on expanding its technology platform and peripheral product portfolio, with plans for new product launches in 2023 [9][24] - The development of the first coronary product application aims to redefine the treatment of coronary artery disease, targeting a large addressable market [26][34] - Strategic areas for growth include increasing case volume, expanding the user base through the Lightbox 3 console, and advancing new peripheral devices through regulatory approval [33] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding progress in Q3 2022, while acknowledging potential challenges from hospital staffing and respiratory virus infections [36] - The company is excited about the upcoming launches of new devices and the potential to transform the treatment landscape for vascular diseases [35][41] Other Important Information - The company plans to prioritize R&D efforts on the coronary program in 2023, aiming for an investigational device exemption filing [32] Q&A Session Summary Question: Are there any questions from institutional investors? - There were no questions in the queue during the Q&A session [42]