ASXC - Asensus Surgical up 4% after hours following strong Q3 2021 results

Shares of Asensus Surgical (NYSE:ASXC) are up 4% in after-hours trading after beating Q3 2021 analyst estimates on revenue and in-line on EPS. Net loss year-over-year increased ~7% to $15.1M (7 cents per common share). Revenue soared YoY 217% to $2.57M due to recent initiations of the company's Senhance Surgical Program. Asensus said four Senhance programs recently began. For the year, the company anticipates initiating 10-12 new programs/ The number of procedures using Senhance reached a record in the quarter, and increased 47% over the prior-year period. CEO Anthony Fernando said the company has seen a recent acceleration of new system installations and strong utilization trends. The company ended the quarter with $147.9M in cash. In September, Asensus received FDA clearance for a set of machine vision capabilities that enables digital laparoscopy for use with Senhance.

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Asensus Surgical up 4% after hours following strong Q3 2021 results