AVGR - Earnings call transcript Q2 2021

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Operator

Good day, ladies and gentlemen, and welcome to the Avinger Second Quarter 2021 Results Call. All lines have been placed on a listen-only mode and the floor will be open for questions and comments following the presentation. At this time, it is my pleasure to turn the floor over to your host, Matt Kreps. Sir, the floor is yours.

Matt Kreps

Thank you. welcome Avinger's to conference quarter like call. would you second to XXXX I

are Soinski; Avinger results CEO, Officer, us is XXXX. Avinger's Joining today the of Jeff Investor quarter June Earlier release Relations. Avinger A copy second on Mark today, and under released the financial the for posted ended XX, website Weinswig. Financial Chief

which forward-looking you financial include anticipated Before call of from our historical we All statements actual Federal are could call make that fact on forward-looking current reliance statements. statements Accordingly, Safe of without be results within involve you will pursuant Harbor These our securities upon that begin, in events forward-looking of expectations, differ not I'd by these based and risks Litigation the made laws, to statements, future Any not that like those the various be undue to Private this estimates assumptions. place cause or should should during management statements. forward-looking statements are contained or to Reform material meaning statements remind implied statements statements. limitation, XXXX. these the provisions that this Act including, uncertainties are Securities and to materially deemed

to the projections over forward-looking new future And information, required I'd with otherwise. by update of intention risks now For the with Securities because business, the call list obligation Form as statements, events a whether and with Form description any Avinger turn except XX-Q filings and to any Jeff. revise and our XX-K disclaims associated uncertainties like or law, or to or of or financial please Commission. and see our Exchange that,

Jeff Soinski

all expand catheters. by of and across excited our we as Thank thank our us. driven strong and another platform best-in-class distribution for you, image-guided We're Matt. build growth PAD quarter for of Avinger, line Good joining afternoon, report scale to you

user looking filings to adoption that to expand both existing at do new of device success expand highly days, below-the-knee. commercial cases to the a or greater products future. Launching We're XXX(k) a by innovative in returned in which XX we in an the the to the for treatment growth has in-stent business we we XXX(k) has device arteries a past new In share submission supplemented in underserved Tigereye SV our which sites. U.S. market. the our devices label treatment technologies for meaningfully upon especially crossing of FDA SV Pantheris been has our its Our of has next-gen The compelling small-vessel of accounts past primary make a scaling with and new strength advantage expect of our launch, driver our Pantheris June, treat Pantheris accelerate in X ISR with CTO to enabled continued success been opportunities filed image-guided growth. the restenosis include X disease, advantages X competitive our differentiated significant over to to of rapid the to provide would and us believe for Pantheris inroads into of secure years to atherectomy which provide challenging

efficiency about to to accelerate we yesterday, acquisition our bring We're system for pace and laser for of our new console. next-generation that advanced account submission the filed portable X Just XXX(k) a capabilities new highly imaging have announced we this excited the Lightbox and platform. potential

the product of and provide affirming We've the more second We also half sales our of line in team institutions. user to pre-pandemic delivered technology physician XX procedural of are results than acquisition year. first improving with customers the with to geographic XX of drive quarter in force new in sales and opened volume sites. clearly the their the the to ability coverage more expansion expanded our the levels engage support past new accounts excellent greater invest our towards continuing meaningfully appeal We in the over financial to months

XX% last continuing quarter X a trend year-over-year, revenue from the positive quarters. Our increased second

as has advanced CTO for especially in beginning variant, the The maintaining XX% for full due procedural South. Tigereye our We're utilization XXXX, And response. X catheter commercial devices discussed, and to revenue increasing set existing being sales we quarter, with cases, product the in and atherectomy believe with at hospitals the now on and and record both to something increase we're this market situation We quarter are Delta see reported in Pantheris strength, X-year on significant grown of annual full some catheters launch as second continue growth the we're over elective being presence throughout our sites. a in impact years. the closely procedures that watching We've we hospitalization field crossing been CTO markets, launch of and to line. evolves. certain at driving our of our the users and third With basis by January infection in we've COVID family new full of our initial volume pleased Tigereye, U.S. potential the for rates catheter of implemented but past is the to limitations the the an

XXX% our with share million our $XXX in our market. by success the of CTO to year-over-year and image-guided franchise revenue total CTO Tigereye expanding peripheral CTO early quarter, approximately Our second growth the increased returning

be imaging, and control have cross complex than feedback continues and sites, new distal physicians We safely to its new effectively higher and increased with launched to to week. continue Tigereye enhanced Clinical XX tip more at each with engage enabling rotational speeds, design, CTOs. now we positive Tigereye on customers

Pantheris in SV vessels in healthy effectiveness millimeters image SV practice. their these outstanding be driver to limb in BTK enables treatment number is lesions. our underserved durable image-guided hit an to Pantheris Our ischemia, XXX in are for the Pantheris also of the To mark Most active the a to below atherectomy PAD. CLI, the to with small-vessels document below-the-knee damage results form differentiated knee. SV continues to guidance post-market with Pantheris illustrating provided clinical of to diameter and a onboard The IMAGE-BTK target or by catheter the severe high highly X designed company results, and expanding the solution important, for most critical device. physicians growth achieve in plaque just patients April, physicians' Pantheris this tissue. accounts we physicians to the SV SV study while major clinical X avoiding We safety our expanding by evaluate suffering continue interest market of in of

currently add X enrolling X are study X this and We additional sites the clinical in plan quarter. to to sites

study on the results date, objective seen next at data patient in treatment. with the very to XX data by clinical we've Our early complete post share collected XXXX. is days, to X the we months clinical follow-up have year enrollment Based year with to to excited and in community are X available

second towards some on share initiatives. the half me year, of let the Looking details key our

to next-generation of our our X customer release year include market filing, in-stent to pending Tigereye updates These SV growing the and rollout expect drivers the We the base; Pantheris for to of pivotal indication. U.S. console; increased penetration of an initial XXXX and imaging for and Lightbox XXX(k) be label strategic Avinger continued restenosis device; with our include coming together. growth clearance Pantheris several expansion a

force, and strategically are team increase We XX new both also professionals clinical sales markets. expanding year-end, expecting over and by to high-potential our representatives existing to sales both our in including specialists

products. pipeline our to Turning

X have filed a and XXX(k) cost, all speed now is for reduced computing enhancements adoption we've barriers devices. the more initial delivers interface forward much redesigned Lightbox of of Lightbox X clearance image-guided of Lightbox a the next-generation within this radically reduce previously, platform, support launch software increased console. process powerful in We system users. to acquisition anticipated mentioned As intuitive imaging designed for laser, utilization evaluation lower leap incorporates workflows which Lightbox practitioners advanced our to user to existing accounts. account receive submission by new X and the imaging, energize to a available portability in represents premarketing at major year. next-generation footprint We new This and X streamline hope and an and a highly these the and for to console capability solid-state a believe our and end accelerate

X perspective, than the less fits of case X as size Lightbox pounds, XX to compared as Lightbox much XX%. anticipated cost weighs to a reduce For reduction is a into console. the new case and The XX% carry-on our current by a suit

through utilization further that Lightbox process, While regulatory to portfolio would and X with working the our additional product we procedures. expand also streamline our are we opportunities approval new catheters PAD peripheral provide advance

details time. to get of X lead and first to our as these on XXXX, in we initiatives XXX(k) about We're the compelling seeking the share excited We we'll demonstrates XXX(k) expect work that to the this indication. filed to filing more and FDA our recently new of half filings on for generated submission Pantheris. Pantheris for clearance highly This which data clearly indication based clinical ISR this INSIGHT safety is trial, add from efficacy closer

to a With market provided Pantheris. major unique terms XXX,XXX a a align for whose in the to when for the face provide this lower timeframe, ISR a and current approaches, difficult-to-treat platform. of each restenosis high later sheer significantly market We over in the often year extremity use Pantheris both data year. procedures with in number arteries with a or If treating and large this of X- our would compelling expanded of in to release limitations stents underserved provides needs patient conference and lesion clinical case U.S. deployed safety population the Due X-year benefits recurrence expect the by at an medical approved, propensity ISR performed physicians directly opportunity challenges efficacy. the

other CTOs believe procedures a market a that this in arteries number bring also working approximately clinically The are use application U.S. While significant intervention, the believe less wires, or of other limited largely the we've of our procedural only treatment the procedures largest attractive devices the strides opportunity opportunity could market our of coronary in we coronary product business. represents Avinger, could provide that percutaneous image-guided XX,XXX our for We recent perforation PCI, and of so, complex cardiologists performed complications. interventional we've underserved expand year. advancing challenging benefits carry or made and portfolio what it's invasive estimated months, or highly new on technologies for be CTO require peripheral platform risk but a disease, coronary Even Currently, big proprietary our highly the CAD. to and clinical each and artery multiple balloons treatment market. begun of of segment to attempt PCI a in that

ripe Bypass CTOs. Artery that up percutaneous This procedures Coronary addition, peripheral development market over estimated cross and for we arteries. fluoroscopy OCT-guided invasive proprietary and radiation would In procedural technology that under arteries, creates percutaneous the approach to based device for begun sizable believe tools or an of learning well is on initial of platform invasive coronary is are XX% a to complications. basis physicians designed proprietary accessible with fewer it's that potentially CABG crossing treatment the our with U.S. position less need time in new coronary of more surgeries the in with to for basis. with expansion effectively solutions coronary make CTOs to Grafting CTO provide annually the the our Augmented highly XXX,XXX believe that performed safely Tigereye image-guided these We and for extended to the a help a by reduce growing new suited related we've

together. we could will study take time year. and as addressable standard We is for coronary development anticipate product, on for our that exciting will would our as to details care that and regulatory effort support products a more to process, be future it of increase complete a opportunity forward the clinical be clinical Avinger an the for and for come time believe we This the advance significantly initiatives this this clearance change transformational While product to we look commercial our required CTOs. Avinger dedicated market calls development discussing the

and and like to transition As patients market lines growth importantly, primary physicians advanced provide devices opportunities we growth across market. this our with for opportunities to Q&A. to to the we their X and our product therapeutic then cover I'll new company, Lightbox on new clinical our for with care provide most At the empower Mark? return best I'd Mark to the and upside opportunities financials, the open from most point, possible ask the programs,

Mark Weinswig

of XX% quarter were It's was second many of the the in Thank quarter return first the for that up important still to increase our from XXXX. $X.X of XXXX second Jeff. from Total million, volumes revenue second to you, note quarter. year XX% to the last a working pre-COVID and sites quarter

to been more are for conditions the rest continuing particularly has prevalent. Delta of this in We variant Southeast where the market monitor year, the

The as more solutions new catheter. second million in $X.X $X.X sales products was scale compared drive quarter, the Operating over element next-generation our gross our of X from team, first second temporary invest of and streams the attributable our loss sales from to SV incremental providing be year and Growing up COVID-XX ago Pantheris clinical and sequentially. leverage and commercial million a $X.X quarter revenue for in including CTO of percentage revenues. model strength in our than of business in the we million year-ago XXXX the with as down second in from quarter in growth. response We're reported continues margin, part far catheter included product $X Avinger's $X quarter. $X.X driven year our and sales a grow our our reductions included by from quarter in contribution CTO year second expenses to Gross development, last second in XX% margin the Lightbox to disposable Net of record business Tigereye million pandemic. quarter the important our to The common point were second million recurring operating prior certain commercial core to margin new in is the programs continuing higher prior contribution fuel shareholders our million the to quarter. quarter future strategy. was up the and XX%, from period the in

Cash that the forgiveness is and posted press our the excess charges, a second is a million of depreciation basis. sequential which the on adjusted the obsolete inventory onetime XXXX Program. quarter copy excludes can is release, received cash net EBITDA included loan from non-GAAP Investors at under a of in Protection website loss reconciliation The the A gain under to Payment from measure which of and quarter today's found a also today's be in on www.avinger.com, equivalents and section. EBITDA, Adjusted amortization million stock this for and expenses, $X.X the and expansion, was I'd expected tables plans in million Jeff press to the new point, at as the items, sales totaled $X.X call $XX.X compared quarter year and other the fund product force second to in of which XX, $X with Q&A. loss loss to ago in June release, clinical compensation million development of At back noted a through turn certain XXXX. like

Jeff Soinski

Mark. Thanks,

development for growth fulfill our our build mission The second changing positioned future. value With active momentum is sales as advance quarter of to XXX(k) on and stockholders across and new filings, Avinger's our continued executing our take we the drive your At way we'd our growing the radically and to continued line best-in-class and product positive be new pipeline. programs our clinical for to study We're focused questions. product happy an efforts recent product disease this we're strategy our force, vascular well point, and treated.

Operator

[Operator Instructions].

from question Riley first comes Wiesenberger B. Securities. Marc with Our

Marc Wiesenberger

was pull with And like the accounts? the then on in half if SV the to or launched, launch? wondering about reset XXXX learning about guess some of receptive Pantheris new new after pandemic. can the onset And launch of feels the I'm talk increased dynamics of Shortly momentum. continued that And the ability to of first see a to Nice we Tigereye, also how kind recent you either had and the physicians cross-selling utilization of I capabilities? the are

Jeff Soinski

Thank for the question. Marc, Yes. you,

the across in at our Pantheris our of whole fourth pretty had first in team saw in where on the relates been the challenges did the the So the procedural as but got on time, of And industry quarter and as came Pantheris the especially SV, reflected launched especially entered right, pandemic of quarter the procedural the we in Not to the volume utility from second especially and presence. the resulting field to you all, third SV as procedural fully as expanded device. the same quickly wave maintained continued volume XXXX. and pandemic, quarter pre-pandemic, we results, and we pandemic, penetration had the results. and had our We We we quickly we of fourth impact wherever our based hit quarter the in second you're board on keep it of initial first a saw that the back in the our back into SV, share as revenue, possible, with then in Pantheris volume increased. that's quarter increase

the SV And positioning so when very is a used critical treated, more knee ischemia where is are urgent primarily environment most SV company is present. we well, cases emergent see or being Pantheris especially the below or Pantheris only CLI because limited limb where there

in come way, the SV, and significant acceptance presence of really and quickly Pantheris a us physician the I of pandemic. clinical the the So impact strength after and back think, helped the

continue below and challenged in see because had the Lumivascular our gain several and of significant because adopt new We've provides great Avinger to knee. users atherectomy that feel become platform providing results. they this So effective customers we solution, safe of so luminal

limb relates SV also calcium, useful media ischemia cases. provided of during presence these cetera, very, of is to We a calcium, critical it below-the-knee information et in very wall, by lesions as case presence think size, the and challenging vessel

as Pantheris the our exclusively new studies of in knee, well, So ongoing portfolio, on to focused a data to publication. SV and that physician-sponsored There utility IMAGE-BTK. the could are product couple develop glad that in below device to of continue are future which lead have that

I'll and other you a we can have questions any just, pause So if on see for get kind there of, and over to then minute SV Tigereye.

Marc Wiesenberger

and new pretty about think dynamics I from accounts SV, just pull-in utilization the of on Tigereye. that cross-selling No, was good the from

Jeff Soinski

Yes.

So we've is the accounts. the market, device. a device, launched and accounts and which XX a the know, with sensitive the CTO issues crossing is vast CTO crossing of to Tigereye discussed Tigereye now is, it into reimbursement call, you in issues. we is cost as of as appeal on less Because majority primary the hospital over some

-- so a of hospital, business Tigereye the is -- has virtually our in done of success all for of And we us. that Tigereye the things couple

of CTO all, our driven revenue more mature product and First adding dramatic with that by the it's had business, been entry cannibalization declining a little Ocelot of longer-standing which had to product in place. we in as kind growth a business,

thing maybe The our it's reps enabled other us treating is done experience had to especially who new CTOs. hadn't as clinical really it's engage and with folks selling and much our reps,

as a this to And Tigereye is driven energy the engage our unlike not those then which is so is brought hospital SLED-based final our with we of Ocelot, And SLED-based is thing by accounts. -- physicians system here happening see lot as and CTOs in does that driven the Pantheris. we our by overall system, not

that catheter, a to we cross of led and safely is a lumen CTO, image-guided cases subintimal then the Pantheris up atherectomy what Tigereye is and when already has is approach So following and exchange same the where crossed, combo to image-guided just avoid for call damaging and that the a good the going certainly used has used case, and intent. number catheter rapidly for set with Tigereye everything the immediately to in CTO

it. very We're that. new do It's Tigereye about So the still building see a still learning story. to market. we is

following really are with training transition it. we're going easier and how And Our the learning SLED-based pleased physician system, imaging create does learning to We're capability. customers refining CTO things and crossing. are consistent a using think, for far. I Pantheris so about catheter But having

Marc Wiesenberger

the kind kind can kind of the you seeing wondering being Lightbox helpful. those with how it hospital gets very the that your for trends where of, half of expectations delivered that if goes question. about That next approved, will second And also impact care and application that dynamics? then dynamic of Sure. some and if the to mix, in And versus was kind when OBL of year? talk X that of XXX(k) my I'm submitted was location you're the recently

Jeff Soinski

No, great question. Yes.

see every a the that become do continue OBLs we overall year bigger factor. So to and market bigger

business inroads is Our business leaders hospital. months. important significant weighted we've over Over thought especially the hospital very with XX last still our is business, although the towards the primarily OBL, XX% into made some of

that vascular reimbursement and codes. so is we rate a interest continued see, proposed for And And have seen for happening released reimbursement their reduction called think, fee now. schedule in XXXX that the There CPT may a you in will physician for I rule dynamic OBL. July, that right CMS the XX% peripheral is for the

Now the that impacts OBL segment.

For of inpatient and about outpatient increases atherectomy, peripheral payments X%. they've to X% recommended actually the increases for

And CMS. out effect so societies January so providers will final, and published be have reimbursement This would there fee could the the way detriment public kind and in coming rebalancing OBL X. is then physician an not and and open opportunity with into comment, go now This will But is currently any however. to the the November, be final to XXXX. comment physicians a of of to of schedule

think either to usage seen fundamentally will industries. could slow don't news as but the of of positioned The we increase the this of reimbursement, push there we're hospital in which good that the kind think Now way. well things OBL, we've or out that, is, cases rebalancing is it of I transition other

during therapeutic their want and to And benefits imaging best sell that else us We for the clinical care It's we on that offers a provide of procedure. are they those physicians our product one differentiated a use highly standard that something can. patients. no real-time because

in a hospital that and in think product I from we market we're a standpoint. as growing positioned well the presence well. do such we're I well So presence differentiation positioned strong also have think

Marc Wiesenberger

process. of limiting And a of the wondering maybe those you pipeline to the to are over back factors the the accelerate And about up some you onboarding half you're press of about Understood. the helpful. accounts of that new accounts if in within talked new doing them year. running. could release, and the talk what I'm Very get

Jeff Soinski

Yes.

So new but acquisition, a product, SV months adding it we've into accounts, Pantheris renewed bringing XX in line past talk focus and new with account technology. brought focus expanded -- over about the we've our platform opportunity successful our or Tigereye with to to accounts: additional our new A, product with been to gives us an new

product. have will we'll out the data claim, and we INSIGHT be rolling from have is the atherectomy We And successful solution account study. in way in a looking these the our difficult-to-treat we're who that massively half very into a new directional believe in-stent for treating year restenosis of can in-stent and effective exciting restenosis be cases. differentiated new a back If getting a we for

developing advancing amount expansion a sales and sales -- who efforts, experience disciplined pipeline both in that helping product through force and including our of think a tremendous Regional the through focus I and just new has account acquisition, way very management a on another Director adding of our Sales management So program. a in

force to quarter the accounts of sales already account positioning number of, of is and shutdown back second a added we're a the lot new this expansion strong half But new company have it kind quarter think have growth. unless significant of course, by in of acquisition, well and, half. a the in and expect we for I the significant We access impacted quarter. COVID are of a way of

focus for to new Lightbox expanding It's the the the process, back to of It's going impact an to Again, to get lab. the which X, And easy speeds new the a revenue. else; very through into everything mostly shifted very XXXX We having and do ultimately, a capital piece really timeframe, us ship then be are half hiring to the our easy driving XXX-pound go couple products. into new that as catheter claims that to evaluation year. new a expect high-value to Lightbox and of in and in of territories we has evaluation recurring opposed Pantheris.

Marc Wiesenberger

kind of just a And heavy for submitted helpful. of lot the first half the and lifting Very mix, for the then two, in applications a should think were the R&D year how back and of, last, well? of both the then the of, we with With SG&A the about that kind the or month final done half within as the me. in operating XXX(k) expenses one year the

Mark Weinswig

Thanks the Marc. question, for Yes.

So of things. a couple

talked all, continue of First as we commercial going our are and to mentioned sales expand to as team. Jeff we about,

expect that have would more we in to So investment area.

the year, to we're also coronary we front, fact X bit R&D in the our filings first next On addition program. little year XXX(k) early additional have that, talked opportunities do looking half at hope additional of a to in about the that which, the obviously, we next drive to And business.

strategic expect kind we could the going into that of expenses back opportunities organization. think value flat be half So we year we to should our the continue invest in as R&D that the these of to some would relatively just give

Operator

Our Weinstein. question from Nathan comes next

Nathan Weinstein

congrats having quarter. on guess, I year-over-year the for impressive multiple the XX% start figure and about how should expansion. margin Great revenue Maybe I some in are major XXX(k) do we forward? on think submissions you? levers of to see really And growth the what margins margins, going

Mark Weinswig

Nathan. Thanks Yes.

things able We couple strong gross with been continue margins increase last of margin profile. is, the walk able we've just to the very, margin. greater quarter we've years, another to XX% very been to that our obviously, had this one of quarter, than through, So over do to

upwards direct contribution our In XX% margins addition, catheter direct sales are our prepared product and We're as significantly sales. we've mentioned remarks, current gross before margins. margins our and about as or higher our XX% in on to talked than margins our of

and force, as operating to our half is accounts that the some we some and products, see to additional XXXX up continue to year, continue line margin of as some we of can we that. accounts hope revenues revenue and to to some team, new sales do see hopefully see goal we margin that we the continue of drive we new sales to and in see the we start benefits the of revenue do new our of So our progression level profiles. number go from benefits the continue of increase of back in on the leverage expect line. XXXX this to gross the to of And into we that increase filed growth as some as our the new our higher, from the And folks XXX(k)s

Nathan Weinstein

an the to Thanks, Mark. on you And of for expand Can about here you there's want Obviously, that. organization. interest question sort forward? to headcount put commercial in where priorities just going a might talk continuing

Jeff Soinski

Yes.

Nathan. hi, -- So

of go would existing supporting So force, when we And add last The team. in XX deployed where year year. those said, the farming split year, existing so some sales this new be management XX% account to also to versus efforts. sales make our be year the new at folks to We don't this with just grow rest on as expect hires clinical deeper. territory typically expect who new did we We board. management about additions primarily over an will to to further we're but look end our we going sales specialists hires utilization accounts, are between in

have looking presence half sales expand to who to markets supporting markets. are we're back couple see account true we're potential actively as a new new also our year we But are We of sales at the we recruiting atherectomy for remotely. footprint. see one grow managers that where or our territory the adding that in the opportunity we Maybe professionals in and territories our business of major high

and into and starting where Lumivascular there's a and existing potential to support resource putting combination clinical for growth. our platform new to territory of or territories a And again, of new high expand really to geographic it's territories it's those we sales managers into feel specialists sales efforts. So representatives drive penetrate mix

Nathan Weinstein

Thanks, Jeff. Great.

from a me. Just question final

the can pieces, the Sort line, it helpful. those just sales about together think business products Lightbox, the with pieces be comment top all the larger drive new will new inflection particularly all on is and maybe what on make things together to if work are start you between synergies of any of of we force, the ahead? faster sort the we coming from possible all activity expansion, growth next-gen some to how accounts, Or the those label see maybe would

Jeff Soinski

Yes.

out I over quarter to you products. a really think factors as as we've combination and X and that quarters we going and introduced new in the of it years very this the the last It past is had are growth laid really well. exactly together over pulling evidenced

to think So there's it. X I pieces

in-stent of products, First overall. And our when of we're excited claims, for introduce really franchise new expand we all, appeal add restenosis as the we we do about new reason. that

catheters existing new our which the catheters, of number increases site. They new So per our products, makes per higher and sales think, expansion. drive in also but opportunities sites, used also only more utilization not drive I team efficient rep,

about. talked expansion account So which you activity, We driving As driving that's we're folks, to on of sales sales add team, and a that a although the our new -- again, very the there's physical just right? focused little them improving efficiency we've to speed. effect, that you up our of through get got growth lag important way think our organization,

to as half expect year go to that. the the to have them then farm start build significant back of investments, impact go making through and XXXX. really you is and help those a But a as investment forward which for You we pipeline we XXXX are we them through us

which Lightbox the quicker most create efficient process believe, how of of about through We for most and accounts. new of adoption we have does, the XXXX. also LXXX is more expect we to the -- evaluation X And talked through benefit of that

been a last from quarters lot over together. So coming these already the of benefiting again, few factors we've think that I

that from we're I into we'll but through time and well requires benefit sure to continue will part an the back getting payoff into increase drive an it are think year, we positioned to requires that that of efficient them, growth very the that acceleration then benefit But go of XXXX. and investment. making from investment. It as

Nathan Weinstein

growth. to your the few pleasure a to evolving I look and evolution real organization the for business And the ahead. Avinger Great. strong the of over forward for It's appreciate continued comments. congrats the last see been years

Operator

[Operator Instructions].

Jeff Soinski

our third and on much our Well, company our conference joining for and in thank very second progress call. quarter we our your right. you your All much quarter very interest call. appreciate to continued We reporting forward support, look

Operator

conference Thank participation. your you. call. for We This concludes today's you thank

have your disconnect may You time, great lines and day. this a at

Avinger (AVGR) 11 Aug 212021 Q2 Earnings call transcript