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Jun 30, 2021
Avinger Q2 2021 Earnings Report
Reported a 91% Year-Over-Year Revenue Growth driven by Pantheris Sales and Tigereye™ Expansion.
Key Takeaways
Avinger, Inc. reported strong revenue gains for both Pantheris atherectomy and image-guided CTO product lines, with total revenue increasing 91% year-over-year to $2.8 million. The company also filed two new 510(k) submissions to support future growth opportunities and maintained a strong cash position of $26.7 million.
Revenue increased 91% year-over-year to $2.8 million, fueled by Pantheris sales growth and new Tigereye CTO sales.
Record Pantheris SV revenue reflects strong market adoption of Avinger’s small-vessel catheter, primarily used in below-the-knee (BTK) applications.
Image-guided CTO revenue increased 114% year-over-year, driven by Tigereye launch at more than 40 sites.
Gross margin increased to 36% as Avinger scales its operations.
Forward Guidance
Avinger filed two new 510(k) submissions to support future growth opportunities. The first is for a new Pantheris clinical indication for the treatment of in-stent restenosis in the lower extremity arteries. The second is for Lightbox 3 next generation imaging console.
Positive Outlook
- New Pantheris clinical indication for the treatment of in-stent restenosis.
- Large and underserved market with few treatment options.
- Technology provides a compelling and effective solution.
- Lightbox 3 features a significantly reduced footprint.
- Lightbox 3 has lower cost and enhanced workflow.
Challenges Ahead
- Dependency on a limited number of products.
- Resource requirements related to Pantheris, Tigereye and our Lightbox imaging console.
- Outcome of clinical trial results.
- Adoption of our products by physicians.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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