Asensus Surgical, Inc. (ASXC) declined in the after-hours market after announcing its fourth quarter and fiscal 2021 results. ASXC values at $0.72, losing more than 7% compared to yesterday’s closing price. The stock closed at $0.77 at the end of the last trading session. The stock volume traded in the last trading session was around 2.68 million shares. The current market cap of the company is around $180.46 million.
ASXC: Q4 and Fiscal 2021 Key Financials
- Asensus Surgical, Inc.’s revenue in Q4 2021 was $2.4 million. It is an increase of more than twice compared to the revenue of $1.1 million in Q4 2020.
- Fiscal 2021 revenue was $8.2 million, which is greater than the revenue of $3.1 million in fiscal 2020.
- The company’s net loss in the fourth quarter of 2021 was around $15.9 million, compared to the net loss of $13.7 million in Q4 2020.
- ASXC net loss in fiscal 2021 was around $62.4 million, compared to the net loss of $59.3 million in fiscal 2020.
- The fourth quarter 2021 loss per share was $0.07, compared to a net loss of $0.13 in the fourth quarter of 2020.
- For fiscal 2021, the loss per share was $0.28, compared to $0.85 in fiscal 2020.
ASXC President and CEO’s Remarks
President and CEO Anthony Fernando said that we were able to increase our active installed base by more than 50%, produce the enormous procedure volumes in Senhance’s commercial history, and considerably expand our offering despite the economic challenges. To deliver on the promise of Performance-Guided Surgery, we aim to continue to increase worldwide acceptance of Senhance via market growth and portfolio extension activities.
Conclusion
Asensus Surgical, Inc. (ASXC) declined after increasing its loss. The company has increased its revenue and is focused on increasing its revenue. Afterhours is a volatile trading session as many traders prefer to trade in the regular trading session. However, the increase in its loss has raised concerns for the investors, which is why the stock is declining.
