Shares of Assure Holdings Corp. (IONM) were up 11.63% at $0.48 at the time of our last check in after-hours trading after the business just released its financial results.
How did IONM fare during the quarter that was reported?
Last week, Assure Holdings (IONM) released financial information for the third quarter that concluded on September 30, 2022.
A Q3 2022 Financial Overview
- The number of managed cases at IONM grew by around 6% to 5,300 in the third quarter of 2022 compared to the same period the previous year.
- In comparison to the same quarter last year, IONM’s net sales were $6.2 million against that of $8.5 million a year ago.
- IONM reported an adjusted EBITDA of ($1.2) million as opposed to $1.2 million in the prior year.
- As compared to a Q3 2021 profit of $0.1 million, IONM recorded a net loss of ($1.4) million.
- For IONM, the net loss per diluted share was ($0.09), compared to a profit per diluted share of $0.01 during the same quarter last year.
- Compared to Q3 2021, cash collected on Assure-owned professional and technical services firms was $5.5 million, up from $3.3 million.
- For the Company’s 100% owned professional and technical entities, IONM continued to collect about 65% on receivables from the first 6 months after they were issued and 85% in the first 12 months after they were issued.
Increasing the profile of IONM
In the state of New Jersey, Assure Holdings (IONM) recently completed its first neuromonitoring case. In addition to actively growing inside the states it now serves and expanding its reach to areas that provide enticing potential, IONM is still generating substantial organic growth. The Northeast has long been a priority for IONM’s growth, with New Jersey in particular showcasing a very high reimbursement profile. Overall, IONM provides great clinical care and services, upholds the highest standards, and supports the best patient outcomes via continual training and development of its professional personnel.