The following is a summary of the Asensus Surgical, Inc. (ASXC) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Asensus Surgical's Q1 2024 revenue was $1.1 million, seeing a slight increase from Q1 2023's $1 million. This consists of $0.5 million in lease revenue, $0.3 million in instruments and accessories, and $0.3 million in services.

• The company saw an increase in total operating expenses to $22.7 million from $20.4 million last year.

• The net loss was $22.5 million, equating to $0.08 per share, in comparison to Q1 2023's net loss of $22.2 million, or $0.09 per share.

• The company reported approximately $8 million in cash, cash equivalents, and short-term investments by the end of March 2024.

Business Progress:

• Negotiations for Asensus Surgical's potential acquisition by KARL STORZ are ongoing, with a proposed acquisition deal for all outstanding common stock at $0.35 per share in cash.

• The Senhance system was utilised in approximately 900 procedures worldwide in Q1 2024, with an expected increase in pediatric procedures, largely due to the system's advantageous design.

• An additional institution within one of Japan's largest private hospital systems has agreed to lease and utilize a Senhance Surgical System, as part of Asensus Surgical's market expansion.

• The company is keen on advancing the development of the next-generation LUNA Surgical System and its digital solutions, while also driving the adoption of the current Senhance platform.

More details: Asensus Surgical IR

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