SA News • Tue, Oct. 28
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IMRIS: An Undervalued And Misunderstood Bet On Minimally Invasive Surgery Robotics
- IMRS' use of accounting practices common to the medical construction industry conceals their true value and liquidity.
- Market cap of $30M trades around a 50% discount compared to cash, restricted cash, accounts receivable, and the projected gross profit from their backlog.
- Bookings are at a historical record level, which indicates that trepidation caused by the Affordable Care Act (ACA) in 2012-2013 may be behind them.
- 1st half bookings in 2014 are at a rate, that if sustained, enable the company to achieve cash flow neutral status this year, and, I believe, profitability in 12-18 months.
- IMRS is in the early stages of a business model transformation, growing beyond a project focused, medical imaging hardware integrator into a manufacturer of a differentiated, proprietary surgical robot.
Tue, Oct. 28, 3:37 PM
- Imris (IMRS -16.8%) Q3 results: Revenues: $6.9M (-61.2%); COGS: $2.4M (-64.7%); Operating Expenses: $8.1M (-25.0%); Operating Loss: ($5.7M) (-42.5%); Net Loss: ($8.4M) (-121.1%); Loss Per Share: ($0.16) (-128.6%).
- 2014 Guidance: Revenues: $30M - 34M; Cash operating expenses: $27M (unch); CAPEX: $2.5M (unch).
Tue, Oct. 28, 8:06 AM
Fri, Aug. 29, 9:20 AM
- Imris (NASDAQ:IMRS) receives a letter from NASDAQ notifying the company that the bid price for its stock has traded below the minimum listing level of $1.00 for 30 consecutive trading days. Under exchange rules, it has 180 calendar days to regain compliance. If, during the grace period, bid prices close above $1.00 for ten consecutive trading days the matter will be closed.
- IMRS closed yesterday at $0.915.
Thu, Aug. 28, 3:50 PM
Thu, Aug. 21, 1:53 PM
- Health Canada approves the incorporation of next generation MRI core technology into Imris' (IMRS) Visius Surgical Theatre. The technology is based on the Siemens Aera 1.5T and Skyra 3.0T MRI scanners. It enables better image quality, faster 3D image acquisition and improved ease-of-use and workflow during surgical procedures using intraoperative MRI.
- The FDA cleared the advancements in February 2014 and the EC cleared them last month.
Thu, Aug. 7, 2:12 PM| Comment!
Thu, Aug. 7, 8:22 AM
Wed, Jul. 23, 9:58 AM
- Imris (IMRS +0.6%) obtains CE Mark clearance for its next generation MRI core technology that will be integrated into the Visius Surgical Theatre. The technology is based on the Siemens Aera 1.5T and Skyra 3.0T scanners. It enables better image quality, faster 3D image acquisition and improved ease-of-use.
Wed, Jun. 4, 10:16 AM
- In a retrospective study of 446 patients, the use of Imris' (IMRS) Visius intraoperative MRI (iMRI) system in transsphenoidal surgery increased the amount of adenoma removal compared to traditional microscopy without iMRI. The study showed that iMRI revealed that tumor removal was incomplete in 56 of 156 patients. The intraoperative image enabled the surgeons to remove additional tumor tissue. This changed the outcome classification for 15 patients which significantly improved their progression-free survival rate.
Wed, Mar. 5, 12:45 PM
Thu, Jan. 9, 12:50 PM
Thu, Jan. 9, 9:11 AM| 3 Comments
Aug. 14, 2013, 12:30 PM
Aug. 13, 2013, 6:37 PM
- IMRIS (IMRS) Q2 EPS loss comes in line with expectations, while revenue beat slightly.
- Revenue declined 40.6% year over year as bookings slipped, largely due to a sluggish environment for healthcare capital equipment.
- The company says it continues to expect order variability from quarter to quarter.
- Due to that variablility, it lowers guidance going forward, now projecting Q3 revenue of around $18M, trailing consensus forecasts by $1.79M.
- FY13 revenue is seen around $50M, also lagging etimates by $15.68M.
- Shares -4.8% AH.
Aug. 13, 2013, 4:43 PM
Aug. 5, 2013, 6:34 PM
- IMRIS (IMRS) obtains a regulatory CE mark for VISIUS iCT, its ceiling-mounted intraoperative CT solution.
- The company received FDA 510(k) clearance for the system on July 18, and the CE mark is the next step in its global launch, allowing for sales and marketing in the European Union.
- IMRS now has systems sold to three major eastern US neurosciences centers with installations in progress at two of these centers.
IMRS vs. ETF Alternatives
IMRIS Inc designs, manufactures and markets the VISIUS Surgical TheatreTM, a multifunctional surgical environment that provides intraoperative vision to clinicians to assist in decision-making and enhance precision in treatment.
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