Axonics: Q1 Earnings Snapshot

Associated Press Finance
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IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — Axonics Modulation Technologies Inc. (AXNX) on Monday reported a loss of $9.2 million in its first quarter.

On a per-share basis, the Irvine, California-based company said it had a loss of 19 cents.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 34 cents per share.

The medical technology company posted revenue of $70.7 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $64.3 million.

Axonics expects full-year revenue of $348 million.

Axonics shares have fallen 6% since the beginning of the year. In the final minutes of trading on Monday, shares hit $58.65, a climb of 13% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXNX at https://www.zacks.com/ap/AXNX

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