ASXC - Asensus Surgical stock falls after guiding revenue lower than estimates

• Asensus Surgical ( NYSE: ASXC ) shares dipped 8% premarket on Monday after the medical device company provided 2022 year-end corporate update , guiding for revenue of ~$6.8M - $7.4M. Analysts expect the firm to generate annual revenue of $7.6M .
• Approximately 2,650 procedures were performed globally during the year, representing growth of over 26% compared to 2021. The company initiated nine Senhance Surgical Programs, in-line with guidance of 8-10 systems.
• "We are very pleased with what we were able to achieve during 2022; which included making significant progress towards the development of Performance-Guided Surgery, driving the continued adoption of Senhance Surgical Programs, and materially increasing its utilization globally,” said president and CEO Anthony Fernando.
• For the quarter ended December 31, 2022, the company estimates preliminary unaudited revenue of ~$2.2M - $2.8M vs. $2.9M.
• As of Dec. 31, 2022, the company had preliminary unaudited cash, cash equivalents, short-term and long-term investments, excluding restricted cash, of ~$74.4M, and there were approximately 236.9M shares of common stock outstanding.

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