EBR Systems' Q2 Net Loss Widens, Net Sales Jump; Shares Gain 4%

MT Newswires Live
Aug 12

EBR Systems (ASX:EBR) reported a second-quarter net loss attributable to common stockholders of $0.35 per share, widening from a loss of $0.30 a year earlier, according to a Wednesday filing with the Australian bourse.

Net sales for the June quarter were $2.6 million, up from $170,000 a year ago.

The company attributed the higher quarterly loss to an increase in selling, general and administrative expenses, and an uptick in research and development expenses.

EBR Systems ended the second quarter with cash, cash equivalents, restricted cash and marketable securities of $89.5 million.

It ended March with cash, cash equivalents, restricted cash and marketable securities of $33.5 million, an earlier filing showed.

The company's shares gained 4% in recent Wednesday trade.

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