Summary by Moomoo AI
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