The following is a summary of the Avinger, Inc. (AVGR) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Avinger reported a total revenue of $1.8 million for Q2 2024, compared to $1.9 million in Q1 2024 and $2 million in Q2 2023.

• Gross margin was 20% in Q2 2024, reflecting a decrease from 30% in Q2 2023, primarily due to lower production activity.

• Operating expenses in Q2 2024 were $4.5 million, reduced from $5.4 million in Q1 2024 due to a significant headcount reduction.

• Net loss for the quarter was $4.4 million, slightly higher than the $4.2 million loss in Q2 2023.

Business Progress:

• Introduced strategic partnership with Zylox-Tonbridge, aimed at entering the Greater China market with Avinger's peripheral products.

• Secured a public offering providing up to $24 million in growth financing.

• Advanced the development of a proprietary image-guided coronary CTO crossing device, expecting to file an IDE application with the FDA soon.

• Launched new Pantheris LV atherectomy catheter in the peripheral vascular space.

Opportunities:

• Partnership with Zylox-Tonbridge opens a pathway to the Greater China market, which could significantly boost the revenue base post-2025.

• The Coronary CTO crossing device leverages existing high-value reimbursement codes, enhancing market competitiveness.

Risks:

• Decline in revenue resulting from the reduction in field sales head count, although seen as a strategic move towards more profitable ventures.

More details: Avinger IR

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