The medical device company CHF Solutions, Inc. (Nasdaq: CHFS) started today’s trading on a positive note. As of 10:51 a.m. EST, the stock was buoying at $9.44 rising +24.21%. The surge came following news of stronger revenues generated by the company.
Get the hottest stocks to trade every day before the market opens 100% free. Click here now.
How did the company perform over the last quarter?
When it comes to discovering hidden gems within the stock market, Stock Wire News has consistently provided invaluable insights. Stock Wire News invites you to explore their upcoming Wealth Building Report. This report will shine a spotlight on little-known companies with the potential for substantial growth in 2024, and it's completely FREE for a limited time.
Claim the free report now by clicking here and start discovering the hidden gems of the market
Sponsored
CHF Solutions takes a scientific approach, collaborates with partners and invents with the aim of changing the lives of patients suffering from chronic fluid overload. Aquadex SmartFlow is the company’s primary product for producing, manufacturing, and marketing ultrafiltration therapy. Clinically proven, the Aquadex SmartFlow system is an effective way to remove excess fluid from patients suffering from hypervolemia (fluid overload). CHF Solutions is headquartered in Minneapolis, Minnesota. It works internationally, with subsidiaries in Australia and Ireland.
Read More
- 3 Best Gene Therapy Stocks for long-term Investment
- Two of the Best Pharmaceutical Stocks to Watch for in 2021
The company today released its Q4 2020 results with strong revenue figures lesser-than-before losses. Financial highlights of the report are as follows:
- During the fourth quarter, revenue totaled $2.0 million, which represents a 49.5% increase from just $1.4 million during the same period in the previous year.
- In the fourth quarter, the Company achieved sequential revenue growth for the fifth consecutive quarter, with revenues increasing 7.4% sequentially over the third quarter.
- Increased usage by established pediatric customers, new pediatric accounts acquired, and performance in critical care accounts drove revenue growth in the quarter.
- It realized a gain of $1.2 million relating to the dissolution of a foreign company in Australia.
Get the hottest stocks to trade every day before the market opens 100% free. Click here now.
- Losses for the reported quarter were $3.1 million, versus a loss of $4 million during the same period of the prior year.
- Amounts available within the cash and cash equivalents were $14.4 million by December 31, 2020, with no outstanding debt.