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 onOctober 26, 2021 . - Refinanced existing debt with a new
$40M , five-year term loan from CIBC, substantially reducing the Company’s overall cost of capital.
“The fourth quarter of 2021 was a busy time for our team, and I’m very pleased with our execution on a number of fronts. Despite the continuing challenges from COVID-19, we are seeing good progress in establishing new commercial accounts,” said
The above information is preliminary and subject to adjustment based on Minerva Surgical’s normal quarter and year-end accounting procedures and external audit by the company's independent registered public accounting firm.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on management’s current assumptions and expectations of future events and trends, which affect or may affect the Company’s business, strategy, operations or financial performance, and actual results may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. Forward-looking statements may include information concerning preliminary financial results, the continued impact of the COVID-19 pandemic on the Company and its operations, commercial momentum, and overall business strategy. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Factors that could cause actual results to differ materially from those contemplated in this press release can be found in the Risk Factors section of Minerva Surgical’ s Quarterly Report on Form 10-Q filing made with the
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Investors: Caroline Corner – caroline.corner@westwicke.com
www.minervasurgical.com
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