Asensus Surgical, Inc. (ASXC): history, ownership, mission, how it works & makes money

A Brief History of Asensus Surgical, Inc. (ASXC)

Foundation and Early Years

Asensus Surgical, Inc. was founded in 2006 as a company focused on developing robotic-assisted surgical systems. The company was initially known as TransEnterix, Inc. Its innovative approach combined robotic technology with minimally invasive surgery.

Initial Public Offering

In 2017, Asensus Surgical went public, raising approximately $75 million through its IPO. The shares were listed on the New York Stock Exchange under the ticker symbol ASXC.

Technological Advancements

Asensus Surgical launched its flagship product, the Senhance Surgical System, in 2018. This system utilized haptic feedback and 3D visualization to enhance surgical precision. As of October 2021, the company reported having performed over 1,000 surgeries using the Senhance system.

Financial Performance

For the fiscal year ended December 31, 2020, Asensus Surgical reported total revenues of $2.4 million, a significant increase compared to $1.1 million in 2019. The company incurred a net loss of $36.5 million in 2020.

Product Innovations and Partnerships

Asensus Surgical announced strategic collaborations with several healthcare institutions to enhance the implementation of their technologies. In 2021, they formed a partnership with the University of Virginia Health System, aimed at advancing robotic surgery training.

Market Positioning and Stock Performance

As of October 2021, the market capitalization of Asensus Surgical was approximately $300 million. The stock price fluctuated significantly, reaching a high of $3.79 and a low of $1.31 within the year.

Recent Developments

As of October 2023, Asensus Surgical continues to evolve, focusing on expanding its market presence and developing new technologies in robotic surgery. The company has been working on integrating artificial intelligence (AI) into its systems to enhance surgical outcomes and efficiency.

Future Outlook

Analysts project a compound annual growth rate (CAGR) of approximately 25% for the robotic surgical market over the next five years, which positions Asensus Surgical favorably for growth and innovation.

Conclusion of Current Status

The overall outlook for Asensus Surgical remains optimistic with ongoing advancements in technology and strategic partnerships aimed at improving surgical procedures and outcomes.

A Who Owns Asensus Surgical, Inc. (ASXC)

Major Shareholders

Asensus Surgical, Inc. (ASXC) is publicly traded on the NYSE American exchange. Ownership of the company is divided among institutional investors, retail investors, and company executives. The following table outlines the major shareholders of ASXC as of the latest reporting period:

Institutional Ownership

Institutional investors hold a significant portion of Asensus Surgical's shares. Below is a table detailing the top institutional investors and their respective ownership stakes:

Insider Ownership

Insider ownership is another crucial aspect of the company's structure. The share distribution among executives is as follows:

Market Capitalization

As of the latest figures, the market capitalization of Asensus Surgical, Inc. is approximately $250 million. The current stock price trades around $1.50.

Recent Financial Performance

The following table shows relevant financial metrics for Asensus Surgical:

Stock Performance

Asensus Surgical, Inc. has faced volatility in stock performance. The following table illustrates recent stock price movements:

Asensus Surgical, Inc. (ASXC) Mission Statement

Purpose and Vision

The mission of Asensus Surgical, Inc. revolves around the transformation of surgery through innovative technology, aiming to enhance surgical performance and improve patient outcomes. The core vision is to develop robotic-assisted surgical systems that provide surgeons with an advanced platform to conduct minimally invasive procedures.

Core Values

Asensus Surgical upholds several core values that guide its operations:

• Innovation: Commitment to advancing surgical technology.
• Patient-Centric Approach: Prioritizing patient safety and well-being.
• Collaboration: Engaging with healthcare professionals to refine technologies.
• Integrity: Upholding ethical standards in every facet of the business.
• Excellence: Striving for the highest quality in surgical solutions.

Strategic Goals

Asensus Surgical has outlined strategic goals for the advancement of its mission:

• To expand the adoption of its Senhance Surgical System across multiple specialties.
• To innovate additional applications for its robotic surgical platform.
• To enhance training programs for surgeons and medical personnel.
• To drive revenue growth through increased market penetration.

Recent Financial Performance

Asensus Surgical has reported significant financial data which reflects its growth trajectory:

Market Position

Asensus Surgical, Inc. is positioned as a pioneer in the field of robotic surgery, leveraging advanced technology to enhance surgical procedures. The market for robotic surgical systems is projected to grow significantly, with estimates indicating an expected compound annual growth rate (CAGR) of approximately 24.3% from 2022 to 2030.

Technological Innovations

Key technological innovations from Asensus Surgical include:

• Senhance Surgical System: A robotic-assisted platform with haptic feedback and 3D visualization.
• AI Integration: Incorporating Artificial Intelligence to improve surgical precision.
• Data Analytics: Utilizing data to enhance surgical workflows.

Regulatory and Compliance

The company adheres to stringent regulatory standards, having received FDA clearance for its Senhance Surgical System and continues to engage in clinical trials to further substantiate its efficacy and safety.

Future Outlook

Asensus Surgical aims to expand its global presence and further develop its technologies, with anticipated investments in R&D projected to exceed $10 million annually in the coming years. The company is actively exploring partnerships to enhance its operational capacity and market outreach.

How Asensus Surgical, Inc. (ASXC) Works

Company Overview

Asensus Surgical, Inc. (ASXC) is a medical device company focusing on digital surgery. The company is known for its Senhance Surgical System, which incorporates robotic technology into minimally invasive surgery.

Key Products

• Senhance Surgical System
• Instruments and accessories for robotic surgery
• Digital Surgery Analytics

Market Performance

As of October 2023, the market capitalization of Asensus Surgical, Inc. is approximately $135 million.

The stock price of ASXC has fluctuated around $0.80 to $1.20 in 2023.

Financial Overview

For the year ended December 31, 2022, Asensus Surgical reported revenue of $10.1 million.

The net loss for the same period was approximately $34.2 million.

Cash and cash equivalents as of December 31, 2022, were $36.3 million.

Research and Development

Asensus Surgical invests heavily in R&D to enhance its product offerings, with R&D expenses reported at $10.4 million for the year 2022.

Operational Highlights

The Senhance Surgical System is currently in use at more than 25 hospitals worldwide.

As of Q3 2023, the company has completed over 1,500 procedures using its robotic surgical systems.

Clinical Applications

• Colorectal surgery
• Gynecological surgery
• Urological surgery

Partnerships and Collaborations

Asensus Surgical has strategic partnerships with various healthcare institutions to advance its robotic surgical technologies.

Recent Developments

In September 2023, Asensus announced a collaboration with a major healthcare system for a study on robotic-assisted surgeries.

Table of Financial Performance

How Asensus Surgical, Inc. (ASXC) Makes Money

Revenue Streams

Asensus Surgical generates revenue primarily through the sale of its surgical systems and related products. The company’s flagship product, the Senhance Surgical System, is designed to enhance minimally invasive surgery through advanced robotics and imaging technology.

Product Sales

The main revenue from product sales comes from:

• Initial system sales
• Single-use instruments and accessories
• Software and support services

Revenue Breakdown

As of the latest financial reports for the fiscal year 2022, Asensus Surgical reported total revenue of approximately $12.5 million. Below is a breakdown of its revenue sources:

Geographical Markets

Asensus Surgical has expanded its market reach, generating revenue from various geographical locations. In 2022, the revenue by region was as follows:

Partnerships and Collaborations

The company also leverages partnerships with healthcare institutions and technology firms to enhance its offerings. As of December 2022, Asensus Surgical had established collaborations with notable hospitals and surgical centers which contribute to its surgical system utilization rates.

Financial Performance

For the fiscal year 2022, Asensus Surgical reported the following financial data:

Market Competitive Landscape

Asensus Surgical faces competition from major players in the surgical robotics market. Key competitors include:

• Intuitive Surgical, Inc.
• Medtronic plc
• Johnson & Johnson

Future Growth Projections

The surgical robotics market is expected to grow significantly, with estimates projecting a market size of $20 billion by 2026, at a CAGR of approximately 20%. Asensus Surgical aims to capture a portion of this growth through product innovation and market expansion strategies.