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Sep 30, 2021
Avinger Q3 2021 Earnings Report
Avinger's financial performance remained steady with a slight revenue increase and consistent gross margins, despite challenges from COVID-19 resurgence.
Key Takeaways
Avinger reported a 3% increase in revenue to $2.4 million for Q3 2021 compared to the prior year. Gross margin remained consistent at 34%. The company made progress on strategic initiatives, including filing 510(k) applications for new products and expanding to new clinical sites, but faced challenges due to COVID-19 related hospital access limitations.
Revenue increased to $2.4 million, up 3% year-over-year.
Gross margin remained consistent at 34% compared to the prior year.
Opened 8 new Lumivascular accounts despite COVID-19 resurgence.
Filed 510(k) submissions for Pantheris expansion and Lightbox 3 console.
Forward Guidance
Avinger anticipates conditions will improve in the fourth quarter and that hospitals will be in a position to return to more normalized case activity in early 2022. The company expects to complete product development over the next few months and file for regulatory clearance in the U.S. and CE Mark countries in the first half of 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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