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1. Company Snapshot

1.a. Company Description

Asensus Surgical, Inc., a medical device company, engages in the research, development, and sale of medical device robotics to enhance minimally invasive surgery (MIS) in the United States, Europe, and Asia.It digitizes the interface between the surgeon and the patient to pioneer a new era of Performance-Guided surgery by unlocking clinical intelligence for surgeons to enable consistently superior outcomes and a new standard of surgery.The company's products include Senhance Surgical system, a multi-port robotic surgery system that allows up to four arms to control robotic instruments and a camera for laparoscopic procedures.


Its products also comprise instruments and other products, including 3mm diameter instruments, 3mm and 5mm hooks, and articulating instruments; and Senhance ultrasonic system, an advanced energy device to deliver controlled energy to ligate and divide tissue.The company was formerly known as TransEnterix, Inc.and changed its name to Asensus Surgical, Inc.


in February 2021.Asensus Surgical, Inc.was founded in 2006 and is headquartered in Durham, North Carolina.

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1.b. Last Insights on ASXC

Asensus Surgical's recent performance was driven by the company's strong Q2 2024 earnings and revenue beat, as well as a solid backlog and demand for its innovative digital solutions for the operating room. The company's President and CEO, Anthony Fernando, highlighted the growth potential of its Senhance Surgical System, which has been gaining traction with hospitals and surgeons. Additionally, the company's CFO, Shameze Rampertab, emphasized the company's focus on cost control and operational efficiency, which has contributed to its improved financial performance.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Asensus Surgical Announces Closing of Acquisition by KARL STORZ

Aug -22

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Asensus Surgical, Inc. (ASXC) Q2 2024 Earnings Call Transcript

Aug -13

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Asensus Surgical, Inc. Schedules Second Quarter Financial and Operating Results Conference Call for August 13, 2024

Aug -08

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Asensus Surgical 2024 Special Meeting of Stockholders Is Adjourned

Aug -07

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Independent Proxy Advisory Firm ISS Recommends Asensus Surgical Stockholders Vote “FOR” the Pending Merger with KARL STORZ

Jul -30

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Glass Lewis Recommends Asensus Surgical Stockholders Vote “FOR” Proposals Relating to Proposed Merger with KARL STORZ

Jul -29

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Asensus Surgical Receives FDA 510(k) Clearance for Senhance Surgical System in Urology

Jul -23

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Asensus Surgical Announces LKH-Universitätsklinikum Graz Hospital in Austria to Initiate Senhance Surgery Program

Jul -16

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.22%)

6. Segments

Systems

Expected Growth: 9.9%

Asensus Surgical's 9.9% growth is driven by increasing adoption of its Senhance Surgical System, a digital laparoscopic platform, in the laparoscopic and robotic-assisted surgery markets. Growing demand for minimally invasive procedures, expansion into new geographies, and strategic partnerships are also contributing to the company's growth.

Leases

Expected Growth: 8.22%

Asensus Surgical, Inc.'s leases growth of 8.22% is driven by increasing adoption of robotic-assisted surgery, expansion into new markets, and strategic partnerships. Growing demand for minimally invasive procedures, advancements in surgical robotics, and favorable reimbursement trends also contribute to this growth.

Instruments and Accessories

Expected Growth: 8.5%

Asensus Surgical, Inc.'s Instruments and Accessories segment growth of 8.5% is driven by increasing adoption of robotic-assisted surgery, growing demand for minimally invasive procedures, and expansion into new geographic markets. Additionally, the company's focus on innovation, product development, and strategic partnerships are contributing to the segment's growth.

Services

Expected Growth: 9.98%

Asensus Surgical, Inc.'s 9.98% growth is driven by increasing adoption of robotic-assisted surgery, growing demand for minimally invasive procedures, and expansion into new markets. Additionally, the company's Senhance Surgical System's unique features, such as haptic feedback and 3D visualization, are attracting more surgeons and hospitals, contributing to the growth.

7. Detailed Products

Senhance Surgical System

A digital laparoscopic platform that enables surgeons to perform a wide range of procedures, including general surgery, gynecologic surgery, and urologic surgery.

Instrument Osiris

A line of articulating, high-dexterity instruments designed to work seamlessly with the Senhance Surgical System.

3D Visualization

A high-definition, 3D visualization system that provides surgeons with a detailed, immersive view of the surgical site.

Augmented Intelligence (AI) Technology

A machine learning-based technology that enables real-time analysis of surgical video and provides surgeons with actionable insights to improve surgical technique.

8. Asensus Surgical, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Asensus Surgical, Inc. faces moderate threat from substitutes, as there are limited alternative products or services that can replace its surgical robotic systems.

Bargaining Power Of Customers

Asensus Surgical, Inc. has a diverse customer base, which reduces the bargaining power of individual customers, and the company's products are often critical to its customers' operations, making it difficult for them to switch suppliers.

Bargaining Power Of Suppliers

Asensus Surgical, Inc. relies on a few key suppliers for critical components, which gives them some bargaining power, but the company's size and scale also give it some negotiating power.

Threat Of New Entrants

The medical device industry has high barriers to entry, including significant regulatory hurdles and the need for substantial investment in research and development, which limits the threat of new entrants.

Intensity Of Rivalry

The medical device industry is highly competitive, with several established players competing for market share, and Asensus Surgical, Inc. faces intense competition from companies such as Intuitive Surgical and Medtronic.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 14.53%
Debt Cost 3.95%
Equity Weight 85.47%
Equity Cost 11.10%
WACC 10.06%
Leverage 17.00%

11. Quality Control: Asensus Surgical, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Spectral AI

A-Score: 4.8/10

Value: 9.0

Growth: 3.2

Quality: 5.6

Yield: 0.0

Momentum: 10.0

Volatility: 0.7

1-Year Total Return ->

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PetVivo Holdings

A-Score: 4.5/10

Value: 6.0

Growth: 6.0

Quality: 4.3

Yield: 0.0

Momentum: 10.0

Volatility: 0.7

1-Year Total Return ->

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Lucid Diagnostics

A-Score: 3.7/10

Value: 6.0

Growth: 3.9

Quality: 2.2

Yield: 0.0

Momentum: 8.0

Volatility: 2.0

1-Year Total Return ->

Stock-Card
Asensus Surgical

A-Score: 3.6/10

Value: 8.0

Growth: 4.4

Quality: 3.6

Yield: 0.0

Momentum: 5.0

Volatility: 0.7

1-Year Total Return ->

Stock-Card
PAVmed

A-Score: 3.3/10

Value: 5.4

Growth: 7.7

Quality: 6.0

Yield: 0.0

Momentum: 0.0

Volatility: 1.0

1-Year Total Return ->

Stock-Card
Strata Skin Sciences

A-Score: 2.5/10

Value: 8.0

Growth: 2.1

Quality: 3.4

Yield: 0.0

Momentum: 1.0

Volatility: 0.3

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

0.35$

Current Price

0.35$

Potential

-0.00%

Expected Cash-Flows