Financial Performance - First quarter 2024 revenue was $1.1 million, a 11% increase from $1.0 million in Q1 2023[4] - Net loss for Q1 2024 was $22.5 million, or $0.08 per share, compared to a net loss of $22.2 million, or $0.09 per share in Q1 2023[4] - Net loss attributable to common stockholders for Q1 2024 was $22,497 million, compared to a net loss of $22,218 million in Q1 2023, representing an increase of 1.3%[15] - Adjusted net loss attributable to common stockholders (Non-GAAP) for Q1 2024 was $18,019 million, compared to $22,001 million in Q1 2023, indicating a reduction of approximately 18.2%[17] - The net loss per share attributable to common stockholders for Q1 2024 was $(0.08), compared to $(0.09) for Q1 2023, indicating a slight improvement[18] Operating Expenses - Total operating expenses for Q1 2024 were $22.7 million, compared to $20.4 million in Q1 2023, representing an increase of 11.3%[4] - Net cash used in operating activities for Q1 2024 was $14,008 million, compared to $17,248 million in Q1 2023, showing an improvement of about 18.8%[15] Cash and Assets - The company had approximately $8.0 million in cash and cash equivalents as of March 31, 2024[6] - Cash, cash equivalents, and restricted cash decreased from $19,879 million at the end of Q1 2023 to $8,478 million at the end of Q1 2024, a decline of about 57.4%[15] - Total current assets decreased from $36,386 million on December 31, 2023, to $19,248 million on March 31, 2024, a decline of approximately 47.3%[13] - The company’s total stockholders' equity decreased from $33,414 million on December 31, 2023, to $13,024 million on March 31, 2024, a decline of approximately 61.0%[13] Liabilities - Total liabilities increased from $25,672 million on December 31, 2023, to $27,790 million on March 31, 2024, an increase of approximately 8.2%[13] Clinical and Operational Highlights - The company performed nearly 900 procedures globally during the first quarter of 2024[1] - The TRUST clinical registry has approximately 3,500 patients enrolled, a 45% increase from Q1 2023[3] - Six peer-reviewed clinical papers were published year to date, supporting the clinical utility of the Senhance System[3] - Asensus expects to initiate 8-10 new Senhance programs and achieve 15%-20% procedure volume growth over 2023 for the full year 2024[2] Acquisition and Financing - A non-binding acquisition proposal from KARL STORZ was announced, offering $0.35 per share in cash for 100% of Asensus' outstanding shares[2] - The company has drawn $7 million of a $10 million secured loan from KARL STORZ to support operations during the exclusivity period[2] Fair Value Changes - The company reported a change in fair value of contingent consideration of $6,480 million in Q1 2024, compared to $105 million in Q1 2023, reflecting a significant increase[17] Stock Issuance - The company issued common stock, generating proceeds of $982 million in Q1 2024, while no such proceeds were reported in Q1 2023[15]

Asensus Surgical, Inc. (NYSE:ASXC) Q1 2024 Earnings Conference Call May 14, 2024 2:00 PM ET Company Participants Mark Klausner - IR, Westwicke Partners Anthony Fernando - President and CEO Shameze Rampertab - CFO Conference Call Participants Swayampakula Ramakanth - H.C. Wainwright Operator Good afternoon, ladies and gentlemen, and welcome to the Asensus Surgical First Quarter Financial and Operating Results Call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct ...

Asensus Surgical (ASXC) came out with a quarterly loss of $0.07 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to loss of $0.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -40%. A quarter ago, it was expected that this maker of surgical robots and medical instruments would post a loss of $0.05 per share when it actually produced a loss of $0.07, delivering a surprise of -40%.Over the last f ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-19437 ASENSUS SURGICAL, INC. (Exact name of registrant as specified in its charter) Delaware 11-2962080 (State or other jur ...

RESEARCH TRIANGLE PARK, N.C., May 14, 2024 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE:ASXC), a global leader of innovative digital solutions for the operating room, announced its operating and financial results for the first quarter 2024. Recent Highlights Announced non-binding acquisition proposal and exclusivity arrangement with KARL STORZ SE & Co. KG (KARL STORZ)KARL STORZ to provide up to $20 million in financingNearly 900 procedures performed globally during the quarterOne Senhance® Surgical Prog ...

RESEARCH TRIANGLE PARK, N.C., May 07, 2024 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE American: ASXC), a medical device company that is digitizing the interface between the surgeon and the patient, announced today that it plans to release 2024 first quarter financial and operating results after the market closes on Tuesday, May 14, 2024. The Company will host a conference call to discuss these results starting at 4:30 p.m. ET the same day. The call will be concurrently webcast. To listen to the confer ...

Entering the second quarter, most investors are focused on the blue-chip stocks of the world. And they should be – that’s where most of the gains have been, at least for most of recent history.However, allocating a small amount of one’s portfolio to penny stocks can help amplify returns over the long-run. This market has been conducive for certain penny stocks, though many continue to fall by the wayside. That’s the nature of investing in these higher-risk, higher-return assets. But, finding the right small ...

RESEARCH TRIANGLE PARK, N.C., April 03, 2024 (GLOBE NEWSWIRE) -- Asensus Surgical, Inc. (NYSE:ASXC) ("Asensus" or the "Company"), a medical device company that is digitizing the interface between the surgeon and the patient, today announced that it has entered into a non-binding letter of intent (the "letter of intent") with KARL STORZ SE & Co. KG, an independent, family-owned global medical technology company ("KARL STORZ") to engage in diligence and negotiations regarding the terms of a potential transact ...

Asensus Surgical, Inc. (NYSE:ASXC) Q4 2023 Earnings Conference Call March 21, 2024 4:30 PM ET Company Participants Mark Klausner - IR, Westwicke Partners Anthony Fernando - President & CEO Shameze Rampertab - CFO Conference Call Participants Ross Osborn - Cantor Fitzgerald Swayampakula Ramakanth - H.C. Wainwright Operator Good afternoon, ladies and gentlemen, and welcome to the Asensus Surgical Inc. Fourth Quarter and Full Year 2023 Financial and Operating Results Conference Call. At this time, all lines ar ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________________ FORM 10-K _____________________________________________________________ ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | |-------------- ...