Acutus Medical Inc

OTC Pink - Current Information:AFIBUnited States

Nov 14, 2024

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• Acutus Medical Reports Third Quarter and Year-To-Date 2024 Financial Results, from 4:26PM ET on Thursday Nov 14, 2024 by Dow Jones

  4:26PM ET on Thursday Nov 14, 2024 by Dow Jones
  Companies Mentioned: AFIB
  ---------- ---------- ---------- ---------- Gain (loss) from operations 489 (1,692) 224 (9,469) Other income (expense): Change in fair value of warrant liability (174) 636 107 1,478 Interest income 153 547 641 2,223 Interest expense (1,395) (1,409) (4,384) (4,110) Other revenue 111 -- 187 -- ---------- ---------- ---------- ---------- Total other expense, net (1,305) (226) (3,449) (409) Loss from continuing operations before income taxes (816) (1,918) (3,225) (9,878) Net loss from continuing operations (816) (1,918) (3,225) (9,878) Discontinued operations: Loss from discontinued operations before taxes (4,791) (11,244) (4,906) (37,945) Income tax expense - discontinued operations -- 75 10 75 ---------- ---------- ---------- ---------- Net loss from discontinued operations (4,791) (11,319) (4,916) (38,020) Net loss $ (5,607) $ (13,237) $ (8,141) $ (47,898) Other comprehensive loss Unrealized loss (gain) on marketable securities -- 4 -- 7 Foreign currency translation adjustment (15) (66) (15) (91) ---------- ---------- ---------- ---------- Comprehensive loss $ (5,622) $ (13,299) $ (8,156) $ (47,982) ========== ========== ========== ========== Net loss per share, basic and diluted: Loss from continuing operations $ (0.03) $ (0.07) $ (0.11) $ (0.34) ========== ========== ========== ========== Loss from discontinued operations $ (0.16) $ (0.39) $ (0.17) $ (1.31) ========== ========== ========== ========== Net loss per common share $ (0.19) $ (0.45) $ (0.27) $ (1.65) Weighted average shares outstanding, basic and diluted 29,799,241 29,262,768 29,768,208 29,024,353 Acutus Medical, Inc. Consolidated Statements of Cash Flows Nine Months Ended September 30, --------------------------------------- 2024 2023 ------------ (in thousands) (unaudited) Cash flows from operating activities Net loss $ (8,141) $ (47,898) Less: Loss from discontinued operations 4,916 38,020 Adjustments to reconcile net loss to net cash used in operating activities: Depreciation expense 235 384 Non-cash stock-based compensation expense 459 1,272 Accretion of discounts on marketable securities, net (28) (1,318) Amortization of debt issuance costs 460 325 Amortization of operating lease right-of-use assets 542 513 Gain on sale of business, net (8,096) (5,927) Change in fair value of warrant liability (107) (1,478) Loss on disposal of property and equipment -- -- Change in fair value of contingent consideration -- 123 Changes in operating assets and liabilities: Accounts receivable (3,499) 3,247 Inventory 87 11,567 Employer retention credit receivable -- 4,703 Prepaid expenses and other current assets 286 2,010 Accounts payable (1,050) (3,020) Accrued liabilities (1,442) (8,043) Operating lease liabilities (532) (253) Other long-term liabilities -- 20 ------------- ------------ Net cash used in operating activities - continuing operations (15,910) (5,753) Net cash used in operating activities - discontinued operations (11,692) (39,352) ------------- ------------ Net cash used in operating activities (27,602) (45,105) ------------- ------------ Cash flows from investing activities Proceeds from sale of business 13,235 17,000 Purchases of available-for-sale marketable securities -- (38,521) Sales of available-for-sale marketable securities 500 -- Maturities of available-for-sale marketable securities 2,750 70,250 Purchases of property and equipment (148) (1,187) ------------- ------------ Net cash provided by investing activities - continuing operations 16,337 47,542 Net cash provided by (used in) investing activities - discontinued operations 339 (207) ------------- ------------ Net cash provided by investing activities 16,676 47,335 ------------- ------------ Cash flows from financing activities Repayment of debt (2,625) -- Proceeds from the exercise of stock options -- 4 Repurchase of common shares to pay employee withholding taxes -- (35) Proceeds from employee stock purchase plan -- 25 Net cash (used in) provided by financing activities - continuing operations (2,625) (1,929) Net cash used in financing activities - discontinued operations (41) (240) ------------- ------------ Net cash used in financing activities (2,666) (2,169) ------------- ------------ Effect of exchange rate changes on cash, cash equivalents and restricted cash (13) (294) Net change in cash, cash equivalents and restricted cash (13,605) (233) Cash, cash equivalents and restricted cash, at the beginning of the period 26,200 31,348 ------------- ------------ Cash, cash equivalents and restricted cash, at the end of the period $ 12,595 $ 31,115 ============= ============ Supplemental disclosure of cash flow information: Cash paid for interest 3,394 3,731 Supplemental disclosure of noncash investing and financing activities: Accounts receivable from sale of business $ 4,478 $ 6,111 Change in unrealized (gain) on marketable securities $ -- $ (7) Change in unpaid purchases of property and equipment $ -- $ 35
  

• *DJ Acutus Medical 3Q Loss/Shr 19c >AFIB, from 4:26PM ET on Thursday Nov 14, 2024 by Dow Jones

  4:26PM ET on Thursday Nov 14, 2024 by Dow Jones
  Companies Mentioned: AFIB