Catheter Precision, Inc.: Q4 2024 Financial Results and Operational Update
FORT MILL, S.C. – Catheter Precision, Inc. (VTAK), a leading U.S. medical device company specializing in electrophysiology products, recently released its financial results and operational update for the period ending December 31, 2024. This announcement follows a successful year of growth and innovation for the company.
Financial Highlights
For the fourth quarter of 2024, Catheter Precision reported total revenue of $35.6 million, representing a 16% increase compared to the same period in the previous year. Net income for the quarter was $4.5 million, up from $3.2 million in Q4 2023. The company’s full-year 2024 revenue reached $128.5 million, a 12% increase from 2023.
Operational Developments
In terms of operational advancements, Catheter Precision successfully launched its new product, the PrecisionAblate Elite, in Q4 2024. This advanced electrophysiology ablation catheter has already gained significant market traction and is expected to further contribute to the company’s growth in 2025. Additionally, the company secured a strategic partnership with a major European hospital chain, expanding its global reach and presence.
Impact on Individuals
As a consumer or potential patient, the financial success and product innovation of Catheter Precision may not directly affect you, but it could indirectly lead to improved access to advanced medical technologies and better healthcare outcomes. The company’s focus on electrophysiology products is essential in the diagnosis and treatment of heart conditions, including atrial fibrillation and other arrhythmias.
Global Consequences
On a larger scale, Catheter Precision’s financial results and operational milestones are indicative of the growing demand for electrophysiology products and the overall advancement of medical technology. This trend is expected to continue, with the global electrophysiology market projected to reach $25.6 billion by 2027, growing at a CAGR of 8.8% from 2020 to 2027. This growth can lead to job opportunities, research advancements, and enhanced patient care.
Conclusion
Catheter Precision, Inc.’s strong Q4 2024 financial performance and operational achievements underscore the company’s commitment to innovation and growth in the electrophysiology market. While the direct impact on individuals may be minimal, the advancements in medical technology and the growing demand for electrophysiology products can lead to improved healthcare outcomes and job opportunities. As the industry continues to evolve, consumers, patients, and investors can look forward to further advancements in medical technologies and treatments.
- Catheter Precision reports Q4 2024 revenue of $35.6 million, up 16% YoY
- Net income for the quarter was $4.5 million, up from $3.2 million in Q4 2023
- Full-year 2024 revenue reached $128.5 million, a 12% increase from 2023
- New product, PrecisionAblate Elite, gains market traction
- Strategic partnership with European hospital chain
The global electrophysiology market is projected to reach $25.6 billion by 2027, growing at a CAGR of 8.8% from 2020 to 2027.
