Tue, May 14, 8:28 PM (206 days ago)
Motus GI Holdings, Inc. reported a net loss of $2.1 million for Q1 2024, a significant improvement from the $4.4 million loss in Q1 2023. Revenue increased slightly to $64,000 from $56,000, driven by sales of the Pure-Vu EVS System. Operating expenses were reduced, notably in research and development (down $1.0 million) and sales and marketing (down $0.6 million), reflecting strategic cost-cutting measures. Cash and cash equivalents stood at $4.9 million as of March 31, 2024. The company is exploring strategic and financing alternatives to address its ongoing liquidity challenges and potential bankruptcy risks. The delisting from Nasdaq and transition to OTCQB were noted.