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Dec 31, 2021
Avinger Q4 2021 Earnings Report
Reported results for the fourth quarter and full year ended December 31, 2021.
Key Takeaways
Avinger, Inc. reported fourth-quarter revenue of $2.4 million and full-year 2021 revenue of $10.1 million. The company's fourth-quarter results were impacted by hospital constraints on procedural volume and hospital staffing shortages related to the resurgence of COVID-19.
Full year 2021 revenue increased by 16% from the prior year to $10.1 million.
Fourth quarter revenue was $2.4 million, reflecting the impact of the Omicron variant surge and hospital staffing shortages.
Full year gross margin increased to 34% from 30% in 2020.
Received 510(k) clearance in November 2021 for a new ISR clinical indication for Pantheris.
Forward Guidance
Avinger is focused on driving case volume activity and is excited about the potential for its platform to revolutionize the treatment of vascular disease through additional product launches. The company expects to file 510(k) applications for two new catheters in its peripheral product portfolio in 2022 and has advanced the initial development efforts for its first entry into the coronary market.
Positive Outlook
- Potential for platform to revolutionize the treatment of vascular disease.
- Expected filing of 510(k) applications for two new catheters in peripheral product portfolio in 2022.
- Advancement of initial development efforts for first entry into the coronary market.
- Image-guided CTO-crossing catheter for the treatment of CAD provides a transformational value opportunity.
- Signs of improving market conditions in recent weeks.
Challenges Ahead
- Hospital constraints and staffing shortages have continued to negatively impact procedural volume in the first quarter of 2022.
- Continued challenges of the COVID-19 resurgence.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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