Acutus Medical Reports 181% Revenue Growth in 2024

Acutus Medical, Inc. reported strong financial results for 2024, achieving a revenue of $20.2 million, a remarkable 181% increase from $7.2 million in 2023. The company significantly reduced its operating loss for continuing operations to $0.1 million, down from $11.7 million the prior year, and improved its gross margin to 5% from a negative 44%. Despite these gains, Acutus recorded a net loss of $4.6 million, though this was an improvement from the previous year's $11.9 million loss. The company plans to focus exclusively on its left-heart access distribution business, exiting the electrophysiology mapping and ablation sectors to streamline operations. Additionally, Acutus’s cash position was $14.0 million at the end of 2024, reflecting ongoing efforts to manage resources effectively. The strategic pivot comes after the company’s sale of its left-heart access portfolio to Medtronic in June 2022, which remains a key revenue source.