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Acutus Medical Sees Q4, FY22 Revenues Well Above Estimates; Appoints Takeo Mukai As CFO
(RTTNews) - Arrhythmia management company Acutus Medical, Inc. (AFIB) announced Monday that it expects revenues for the fourth quarter in a range of approximately $4.7 million to $4.9 million, compared to $4.4 million in the prior-year quarter.
The company said the expected growth was driven by an increase in commercial AcQMap procedures worldwide, continued adoption of the Company's differentiated mapping, therapy and accessory products, and stabilization in capital sales.
For the full year 2022, the company expects revenue to be in a range of $16.1 million to 16.3 million compared to $17.3 million in 2021. The growth in commercial AcQMap procedure volumes and associated disposable products was offset by expected declines in capital equipment sales and lower stocking orders on new console installations.
On average, four analysts polled by Thomson Reuters expect the company to report revenues of $4.15 million for the quarter and $15.7 million for the year.
In addition, the Company announced the appointment of Takeo Mukai as Senior Vice President and Chief Financial Officer (CFO), effective January 9, 2023. Mukai joined Acutus in July of 2021 as Vice President, Finance, and has progressively expanded his responsibilities over the past 18 months, most recently serving as interim Chief Financial Officer. Prior to joining Acutus, Mukai held roles of increasing responsibility over a 14-year career at Medtronic.
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