Ra Medical Systems (RMED) Misses Q1 EPS by 22c, Revenues Miss

Ra Medical Systems (NYSE: RMED) reported Q1 EPS of ($0.56), $0.22 worse than the analyst estimate of ($0.34). Revenue for the quarter came in at $1.37 million versus the consensus estimate of $1.58 million.

Recent Operational Highlights

• Appointed Will McGuire, vascular medtech executive, as CEO and board director
• Appointed Joan Stafslien, medical device industry executive with 25 years regulatory and legal experience, to the board of directors
• Cleared additional site for enrollment in the atherectomy indication clinical trial
• Filled key roles in engineering and quality assurance to further advance critical R&D projects and quality improvement plan initiatives
• Implemented plan to keep Company operating in compliance with safety guidelines during COVID-19 pandemic

“I am impressed with the progress Ra Medical has made over these last few months to improve product performance and quality. The team has remained motivated and dedicated to achieving our goals through some very difficult circumstances,” said Will McGuire, Ra Medical Systems CEO. “I am looking forward to leveraging my years of operating and executive experience in the medical device industry to lead Ra Medical through the challenges ahead and capitalize on the exciting opportunities in the peripheral vascular and dermatology businesses.”

For earnings history and earnings-related data on Ra Medical Systems (RMED) click here.

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