Asensus Surgical says procedures increased by more than a third in the second quarter

Asensus Surgical (NYSE American: ASXC) today announced mixed results for the second quarter, which also included 34% year-over-year growth in procedures.

The Research Triangle Park, North Carolina-based surgical robotics and digital surgery company lost $19.6 million, or 8¢ per share, on revenue of $994,000 for the quarter ended June 20, 2022, against a loss of $13.2 million, or 6¢ per share, on $1.1 million in revenue for the same quarter a year ago.

Wall Street analysts expected EPS of -8¢ on $1.25 million in revenue.

During the second quarter, Asensus announced the installation of a Senhance system at the University Hospital of Tübingen in Germany. The company also has two additional orders that have not yet been installed, including one destined for one of the countries of the Commonwealth of Independent States, the international organization that includes Russia and many other former republics of the Union. Soviet.

The company is looking to expand the use of its Intelligent Surgical Unit (ISU). It plans a full-scale commercial launch of 5mm articulating instruments and a 510(k) application for pediatric clearance, both in the second half of 2022.

“We recorded another solid quarter of growth in the use of the Senhance system globally and made great strides in the continued development of our digital surgery platform with the Intelligent Surgical Unit (ISU) as we seek to make performance-guided surgery (PGS) a reality,” Asensus Surgical CEO Anthony Fernando said in a press release. “Our goal is to enable surgeons to perform safer, more predictable and higher quality procedures. By providing real-time, data-driven clinical intelligence and guidance, Senhance and PGS will revolutionize surgery and, more importantly, help improve patient outcomes.

Investors responded by sending ASXC shares up more than 4% to 59¢ each after hours trading.

Christine E. Phillips