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TIVC Nasdaq· Tivic Health Systems Inc
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TIVC Nasdaq· Tivic Health Systems Inc
Earnings report Q3 2023

Tivic Health Systems Reports Decline in Revenue for the Latest Quarter

Segments of revenue

Tivic Health Systems reported a decline in revenue for the latest quarter. Revenue for the three months ended September 30, 2023, was $282,000, compared to $477,000 in the same period last year. For the nine months ended September 30, 2023, revenue amounted to $819,000, compared to $1.43 million in the prior year.

Strengths

Despite the decline in revenue, Tivic Health Systems has made product improvements aimed at enhancing customer experience. These improvements include addressing customer-reported charging issues, extending battery life, and enabling faster charging. The company expects these enhancements to be available in the market by the end of the fourth quarter. Additionally, Tivic Health Systems has continued its collaboration on a clinical trial to evaluate the treatment of postoperative pain after sinus surgery. The company's partnership with The Feinstein Institute for Medical Research at Northwell Health to test a novel non-invasive bioelectronic approach to vagus nerve stimulation also demonstrates its commitment to innovation.

Challenges

Tivic Health Systems faced a decline in revenue for the latest quarter, which may indicate challenges in generating sales. The company's financial performance has been impacted by operating expenses, including research and development, sales and marketing, and general and administrative costs. These expenses amounted to $1.87 million for the quarter and $6.28 million for the nine months ended September 30, 2023.

Noteworthy

Tivic Health Systems' collaboration with The Feinstein Institute has yielded preliminary data that has helped identify and target high-value market segments with strong return on investment potential. This strategic approach may contribute to future revenue growth for the company.

Summary

Tivic Health Systems reported a decline in revenue for the latest quarter, with revenue amounting to $282,000. The company has made product improvements to enhance customer experience and has ongoing collaborations and partnerships focused on innovative medical research. However, Tivic Health Systems faces challenges in generating sales and managing operating expenses. The company's ability to innovate and target high-value market segments may contribute to future revenue growth.

Source documents

Form 10-Q  filed on Nov 14, 2023
6 pages scanned

Reference data

Company financials Q3 revenue 282k
Analyst estimates Q3 EPS missed by -78.86%
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