Acutus Medical Reports Strong Revenue Growth in 2024

Acutus Medical, Inc. ( (AFIB) ) has released its Q4 earnings. Here is a breakdown of the information Acutus Medical, Inc. presented to its investors.

Acutus Medical, Inc., based in Carlsbad, California, specializes in the production of left-heart access products, operating primarily in the medical technology sector with a focus on innovative cardiac solutions.

In its full-year 2024 financial results, Acutus Medical reported a significant increase in revenue from continuing operations, highlighting a strategic shift in its business model. The company achieved a revenue of $20.2 million, marking a 181% growth compared to the previous year.

Key financial metrics from the report include a notable reduction in operating loss for continuing operations, which decreased to $0.1 million from $11.7 million the previous year. The company also recorded a $10.8 million gain on the sale of a business, reflecting a 19% increase from the prior year. Additionally, the gross margin improved significantly to 5% from a negative 44% in 2023, driven by increased production volumes and reduced overhead expenses.

Despite these positive developments, Acutus Medical reported a net loss of $4.6 million from continuing operations, although this was an improvement from the $11.9 million loss in 2023. The company’s cash position stood at $14.0 million by the end of 2024, indicating a strategic focus on managing resources effectively.

Looking ahead, Acutus Medical plans to realign its resources to focus on the left-heart access distribution business, exiting the electrophysiology mapping and ablation sectors. This strategic pivot aims to streamline operations and capitalize on the growing demand for its specialized cardiac products.