Assure Holdings Corp., a provider of Intraoperative neuromonitoring (IONM) services, has reported a significant decrease in revenue for the first quarter of 2024 compared to the same period in 2023. Revenue dropped from $115 thousand to $9 thousand, a 92% decline, while the cost of revenues decreased by 30% from $679 thousand to $475 thousand. The company's gross margin improved by 17%, and total operating expenses increased by 16%. Assure experienced a loss from operations of $4.196 million, an 11% increase from the previous year's $3.777 million. The net loss widened by 20% to $3.761 million. Despite these challenges, income from discontinued operations rose by 114% to $908 thousand. Assure has entered into a settlement agreement with the DOJ, agreeing to a $1 million payment to release it from civil or administrative monetary claims. The company...Show More

Assure Holdings Corp., a provider of Intraoperative neuromonitoring (IONM) services, has reported a significant decrease in revenue for the first quarter of 2024 compared to the same period in 2023. Revenue dropped from $115 thousand to $9 thousand, a 92% decline, while the cost of revenues decreased by 30% from $679 thousand to $475 thousand. The company's gross margin improved by 17%, and total operating expenses increased by 16%. Assure experienced a loss from operations of $4.196 million, an 11% increase from the previous year's $3.777 million. The net loss widened by 20% to $3.761 million. Despite these challenges, income from discontinued operations rose by 114% to $908 thousand. Assure has entered into a settlement agreement with the DOJ, agreeing to a $1 million payment to release it from civil or administrative monetary claims. The company also received an extension from Nasdaq to regain compliance with listing requirements by July 22, 2024. Assure's future plans include the termination of remaining Managed Service Agreement (MSA) relationships in 2024 and a merger with Danam Health, Inc., with the expectation that post-merger, former equity holders of Assure will own approximately 10% of the combined company. Assure will be renamed Danam Health Holdings Corp. following the merger, with new leadership and board members from Danam.