Minerva Surgical Reports Preliminary Fourth Quarter and Full Year 2021 Revenue
Click here for PDF Version January 11, 2022 SANTA CLARA, Calif., Jan. 11, 2022 (GLOBE NEWSWIRE) -- Minerva Surgical, Inc. (Nasdaq: UTRS) (Minerva Surgical or the Company), a medical device company that has established a broad product line of commercially available, minimally invasive medical devices that address the most common causes of abnormal uterine bleeding (AUB) as alternatives to hysterectomy, today reported preliminary unaudited fourth quarter and full year 2021 revenue expectations. Preliminary Fourth Quarter and Full Year 2021 Highlights:
- Fourth quarter 2021 revenues are expected to be in the range of $13.5M - $13.7M, compared with revenues of $13.6M in fourth quarter of 2020. Full year 2021 revenues are expected to be in the range of $52.0M - $52.2M, compared with reported revenues of $37.8M for full year 2020.
- Ended 2021 with over $40M in cash and cash equivalents, reflecting the proceeds from the Company’s initial public offering completed on October 26, 2021.
- Refinanced existing debt with a new $40M, five-year term loan from CIBC, substantially reducing the Company’s overall cost of capital.