Motus GI Q3 revenue up 327%: 6 notes

Fort Lauderdale, Fla.-based Motus GI released its third quarter financial results Nov. 12.

Six notes:

1. It reported revenue of about $141,000 for the third quarter of 2021, compared to $33,000 for the same period last year and $100,000 in the second quarter of 2021. 

2. It reported a net loss of $4.8 million in the third quarter of 2021, compared to a net loss of $3.9 million for the same period last year.

4. Motus GI said it increased sales of disposable sleeves for procedures using its Pure-Vu System that improves visualization for upper gastrointestinal endoscopies, resulting in the fifth consecutive quarter of revenue growth.

4. By the end of the third quarter, about 10 U.S. hospitals either purchased capital equipment and disposable sleeves or signed a 12-month volume agreement with Motus GI.

5. The company is preparing a 510(k) application for the Pure-Vu EVS, its third generation of the Pure-Vu System, which it expects to submit to the FDA by the end of this year.

6. The company said it is trying to get outpatient reimbursement for the Pure-Vu System when used for certain colonoscopies, including conducting a multicenter trial.

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