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Mar 31, 2021
InspireMD Q1 2021 Earnings Report
Announced financial results for Q1 2021 and completed up-list to Nasdaq Capital Market.
Key Takeaways
InspireMD reported a slight decrease in revenue for Q1 2021, with CGuard revenue remaining stable but MGuard Prime EPS revenue declining. Gross profit decreased significantly due to increased write-offs, and operating expenses increased due to higher salary, share-based compensation, and development expenses. The company's net loss increased compared to the same period in 2020, but cash and cash equivalents increased significantly due to equity transactions.
Revenue decreased slightly by 2.7% to $1.006 million compared to Q1 2020.
Gross profit decreased by 64.1% to $106,000 due to increased write-offs and miscellaneous expenses.
Operating expenses increased by 47.7% to $3.42 million, driven by higher salary, share-based compensation, and development expenses.
Net loss totaled $3.243 million, or $0.53 per share, compared to a net loss of $1.978 million, or $6.42 per share, for the same period in 2020.
Forward Guidance
InspireMD is optimistic about the direction of its business and the potential of CGuard EPS to transform the carotid disease treatment market.
Positive Outlook
- Ramping up the C-Guardian U.S. pivotal trial for CGuard EPS.
- Agreement with three China-based investment partners for CGuard EPS registration and distribution in mainland China.
- Expansion into new markets of France, Taiwan and Korea.
- Strengthened balance sheet and cash reserves.
- Belief that they are well positioned and have the resources needed to fund trial, global expansion and build a pipeline of new products.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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