Perimeter Medical Imaging Q1 Net Loss Narrows

Perimeter Medical Imaging Q1 Financial Results

Canadian medical imaging firm Perimeter Medical Imaging reported a 31% year-over-year narrowing of its first-quarter net loss. Operating expenses decreased 30%, while revenue declined due to the absence of a one-time equipment sale.

Key Developments

The company placed its first two Claire OCT+AI devices and completed a $5.5 million financing in May. Recurring revenue from S-Series consumables and leases rose 14% year-over-year.

Outlook

Perimeter noted that its sales funnel for the Claire device has grown rapidly, with close to 50 qualified leads. The company aims to expand Claire OCT+AI placements at leading U.S. healthcare institutions.

Analyst Coverage

The average analyst rating on the shares is 'buy', with 3 'strong buy' or 'buy' recommendations. The median 12-month price target is C$1.50, representing a 347.8% upside from the May 27 closing price.