Catheter Precision, Inc. Announces 2023 Financial Results and Operational Highlights

Catheter Precision, Inc. (NYSE American:VTAK), a leading MedTech company in the cardiac electrophysiology market, announced its Q4 and Annual Financial Results for the year ending December 31, 2023. Despite a substantial revenue growth, the company reported a net loss of $70.6 million for the year, significantly impacted by a $60.9 million one-time write-off for impairment of goodwill. However, revenues experienced a noteworthy increase to $442 thousand in 2023 from $14 thousand in 2022, with the gross margin remaining high at 93% for the full year.

The company highlighted several operational achievements, including the acquisition of a private electrophysiology company and successful initial and second clinical trials for its products VIVO and LockeT. These products aim to enhance the treatment of ventricular arrhythmias and improve hemostasis after percutaneous venous punctures, respectively.

CEO David Jenkins emphasized the transitional nature of 2023 and expressed optimism for 2024 based on product realignment and additional third-party financing. The company also reported filing 8 patent applications and receiving 6 patents issuances in 2023, confirming its commitment to innovation and intellectual property protection in the MedTech field.