ASXC - Asensus Surgical down 4% post market following quarterly top line miss

Shares of Asensus Surgical (NYSE:ASXC) fell 4% in after-hours trading after reporting Q1 2022 revenue that fell below consensus estimates. Net loss widened ~10% year over year to $19.1M, but still beat consensus. Revenue of ~$1.07M in the quarter was a ~49% drop from Q1 2021. Revenue in its largest segment -- product -- fell to $347K from ~$1.4M. Asensus (ASXC) said that during Q1, surgeons performed more 650 procedures using its Senhance System, a 31% increase compared to Q1 2021. U.S.-based procedure volumes increased 4%, EMEA increased 51%, and Asia increased 3%. Seeking Alpha's Quant Rating views Asensus (ASXC) as a hold.

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Asensus Surgical down 4% post market following quarterly top line miss