Motus GI Holdings (MOTS) Tops Q3 EPS by 7c

Motus GI Holdings (NASDAQ: MOTS) reported Q3 EPS of ($0.18), $0.07 better than the analyst estimate of ($0.25).

“I am excited by the building momentum of the business as we implement our commercial strategy and continued to deliver on several key milestones in the third quarter, including initiating sales and scaling production of the Pure-Vu® System, as well as expanding our U.S. sales team with additional seasoned medical device sales professionals,” commented Tim Moran, Chief Executive Officer of Motus GI. “The gastroenterologists and support staff from our initial hospital placements are already reporting positive feedback regarding the Pure-Vu System, along with valuable real-world customer insights that will help us frame our broader U.S. roll-out.”

“Our U.S. sales team is actively ramping up their activity, and as a result, our pipeline of high value target accounts is growing. Looking ahead, as the Pure-Vu System builds an installed base, we will rely on our systematic account activation program to drive utilization, which we believe will lead to growing sales of disposable sleeves. We believe that the long-term growth opportunity is centered around the revenue from disposable sleeves, as we gain U.S. customers and commercial utilization of the Pure-Vu System in the coming quarters,” concluded Mr. Moran.

For earnings history and earnings-related data on Motus GI Holdings (MOTS) click here.

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