UTRS - Minerva tops Q3 sales estimates; Piper 'strongly' encourages buying stock after Q3 results

Minerva Surgical (NASDAQ:UTRS) reports financial results for Q3 ended September 30, 2021. Shares surged 10.3% after-hours after the company's top-line exceeded analyst expectations. Q3 revenues reached $12.5M, ahead of analysts' forecast of $12.15M. The increase in revenue was primarily attributable to the increase in volume of Genesys HTA and Symphion products, partially offset by a decrease in revenue for Minerva Surgical ES products. Gross margin was 57.0% compared to 53.4% in Q3 2020. The rise was primarily due to the mix of products sold in the quarter. Net loss in Q3 was $3.2M, or $1.15 per share, compared to net loss of $7.3M, or $7.33 per share, for the same period in 2020. Adjusted EBITDA loss of $2.6M vs. $0.4M in prior year. Minerva expects FY 2021 revenue in the range of $51M to $52M (consensus $51.7M). In October 2021, the company refinanced its remaining outstanding debt with a new $40M term

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Minerva tops Q3 sales estimates; Piper 'strongly' encourages buying stock after Q3 results