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Jun 30, 2020
InspireMD Q2 2020 Earnings Report
Announced financial results for the second quarter ended June 30, 2020.
Key Takeaways
InspireMD's Q2 2020 revenue decreased by 76.9% to $313,000 compared to $1,354,000 in Q2 2019, primarily due to the postponement of elective procedures during the COVID-19 pandemic, resulting in a net loss of $2,480,000, or $0.20 per share.
Revenue decreased by 76.9% to $313,000 compared to the same period last year.
Gross loss for the quarter was $120,000, compared to a gross profit of $442,000 for the same period in 2019.
Total operating expenses decreased by 11.4% to $2,326,000.
Net loss totaled $2,480,000, or $0.20 per basic and diluted share.
InspireMD
InspireMD
InspireMD Revenue by Segment
Revenue by Segment
CGuard EPS Revenue
CapyFin.com Forward Guidance
InspireMD is focused on advancing its commercial expansion and research and development activities despite the challenges posed by the COVID-19 pandemic.
Positive Outlook
- Approval to market CGuard™ MicroNet stent in Brazil.
- Completed an $11.5 million capital raise.
- Gradual resumption of crucial procedures in key markets in Europe.
- Scientific validation in peer-reviewed publications.
- Alternative visualization modalities employed to gain full FDA approval.
Challenges Ahead
- COVID-19 placed significant pressure on healthcare facilities.
- Interruptions in elective procedure volumes.
- Decrease in revenue due to postponed procedures.
- Supply chain infrastructure challenges.
- Delays related to product sterilization.