Benzinga | Aug 10, 2021 05:34PM EDT

InspireMD Reports Narrower Loss In Q2 As Revenue Rebounds On Procedural Recovery

* InspireMD Inc (NASDAQ:NSPR) has recorded a robust increase in second-quarter FY21 sales of $1.04 million, +231.6% Y/Y, slightly missing the consensus of $1.1 million.

* The Company posted a narrower EPS loss of $(0.46) compared to $(2.93) a year ago, beating the consensus of $(0.63).

* This increase was driven by a 276.0% increase in sales volume of CGuard EPS from $271,000 to $1.02 million as non-emergency cases began to return to normal levels compared to Q2 2020 when procedures with CGuard EPS were mostly postponed as hospitals shifted resources to COVID-19.

* This increase was partially offset by a decrease of 54.8% in sales of MGuard Prime EPS from $42,000 to $19,000, driven mainly by the preferences favoring drug-eluting stents.

* NSPR posted a gross profit of $262,000, from a gross loss of $120,000.

* Cash and cash equivalents were $41.4 million.

* Price Action: NSPR shares closed at $3.96 on Tuesday.