$AVGR
Avinger Inc Stock $avgr

$avgr Overview Financials Valuation SEC Filings Company Website

2023 Q4 Form 10-Q Financial Statement

#000143774923029118 Filed on October 26, 2023

Income Statement

Concept	2023 Q4	2023 Q3
Revenue	$1.906M	$1.817M
YoY Change	-4.75%	-19.32%
Cost Of Revenue	$1.532M	$1.429M
YoY Change	16.24%	-2.26%
Gross Profit	$374.0K	$388.0K
YoY Change	-45.24%	-50.89%
Gross Profit Margin	19.62%	21.35%
Selling, General & Admin	$3.837M	$3.377M
YoY Change	14.23%	-0.21%
% of Gross Profit	1025.94%	870.36%
Research & Development	$1.152M	$1.044M
YoY Change	0.52%	-3.87%
% of Gross Profit	308.02%	269.07%
Depreciation & Amortization	$75.00K	$70.00K
YoY Change	19.05%	29.63%
% of Gross Profit	20.05%	18.04%
Operating Expenses	$4.989M	$4.421M
YoY Change	10.74%	-1.1%
Operating Profit	-$4.615M	-$4.033M
YoY Change	20.75%	9.59%
Interest Expense	-$427.0K	$455.0K
YoY Change	12.66%	11.79%
% of Operating Profit
Other Income/Expense, Net	$18.00K	$12.00K
YoY Change	-5.26%
Pretax Income	-$5.024M	-$4.480M
YoY Change	20.13%	9.62%
Income Tax
% Of Pretax Income
Net Earnings	-$5.024M	-$4.476M
YoY Change	-5.4%	9.52%
Net Earnings / Revenue	-263.59%	-246.34%
Basic Earnings Per Share		-$2.92
Diluted Earnings Per Share	-$3.90	-$2.92
COMMON SHARES
Basic Shares Outstanding	1.370M	10.82M
Diluted Shares Outstanding

Balance Sheet

Concept	2023 Q4	2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$5.275M	$8.730M
YoY Change	-63.88%	-49.66%
Cash & Equivalents	$5.300M	$8.700M
Short-Term Investments
Other Short-Term Assets	$575.0K	$550.0K
YoY Change	58.84%	-15.64%
Inventory	$5.298M	$5.580M
Prepaid Expenses
Receivables	$1.014M	$828.0K
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$12.16M	$15.68M
YoY Change	-42.05%	-36.24%
LONG-TERM ASSETS
Property, Plant & Equipment	$487.0K	$528.0K
YoY Change	-30.63%	-8.01%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$19.00K	$249.0K
YoY Change	-93.91%	-25.23%
Total Long-Term Assets	$1.608M	$2.161M
YoY Change	-49.88%	-35.61%
TOTAL ASSETS
Total Short-Term Assets	$12.16M	$15.68M
Total Long-Term Assets	$1.608M	$2.161M
Total Assets	$13.77M	$17.84M
YoY Change	-43.09%	-36.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$777.0K	$549.0K
YoY Change	23.14%	-10.29%
Accrued Expenses	$817.0K	$897.0K
YoY Change	24.35%	34.08%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due	$14.29M	$13.79M
YoY Change	0.9%
Total Short-Term Liabilities	$19.30M	$18.37M
YoY Change	7.54%	159.7%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00
YoY Change		-100.0%
Other Long-Term Liabilities	$672.0K	$627.0K
YoY Change	-32.87%	-28.83%
Total Long-Term Liabilities	$672.0K	$627.0K
YoY Change	-32.87%	-28.83%
TOTAL LIABILITIES
Total Short-Term Liabilities	$19.30M	$18.37M
Total Long-Term Liabilities	$672.0K	$627.0K
Total Liabilities	$19.97M	$19.20M
YoY Change	-0.38%	-16.55%
SHAREHOLDERS EQUITY
Retained Earnings	-$420.7M	-$415.7M
YoY Change	4.55%	4.39%
Common Stock	$414.5M	$414.3M
YoY Change	1.96%	2.77%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$6.202M	-$1.354M
YoY Change
Total Liabilities & Shareholders Equity	$13.77M	$17.84M
YoY Change	-43.09%	-36.16%

Cashflow Statement

Concept	2023 Q4	2023 Q3
OPERATING ACTIVITIES
Net Income	-$5.024M	-$4.476M
YoY Change	-5.4%	9.52%
Depreciation, Depletion And Amortization	$75.00K	$70.00K
YoY Change	19.05%	29.63%
Cash From Operating Activities	-$3.389M	-$3.530M
YoY Change	24.73%	0.97%
INVESTING ACTIVITIES
Capital Expenditures	-$2.000K	$10.00K
YoY Change	-110.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	$2.000K	-$10.00K
YoY Change	-110.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-61.00K	5.130M
YoY Change	2950.0%	6.9%
NET CHANGE
Cash From Operating Activities	-3.389M	-3.530M
Cash From Investing Activities	2.000K	-10.00K
Cash From Financing Activities	-61.00K	5.130M
Net Change In Cash	-3.450M	1.590M
YoY Change	25.96%	22.03%
FREE CASH FLOW
Cash From Operating Activities	-$3.389M	-$3.530M
Capital Expenditures	-$2.000K	$10.00K
Free Cash Flow	-$3.387M	-$3.540M
YoY Change	23.75%	1.26%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	225181
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-21.48
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
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	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	5746000	usd
	us-gaap	Revenue From Contract With Customer Including Assessed Tax RevenueFromContractWithCustomerIncludingAssessedTax	6272000	usd
	us-gaap	Cost Of Revenue CostOfRevenue	4117000	usd
	us-gaap	Cost Of Revenue CostOfRevenue	4301000	usd
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	3388000	usd
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	3244000	usd
	us-gaap	Selling General And Administrative Expense SellingGeneralAndAdministrativeExpense	10261000	usd
	us-gaap	Operating Expenses OperatingExpenses	14106000	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-12020000	usd
	us-gaap	Operating Income Loss OperatingIncomeLoss	-12135000	usd
	us-gaap	Interest Expense InterestExpense	1292000	usd
	us-gaap	Interest Expense InterestExpense	1286000	usd
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	16000	usd
	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	-20000	usd
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	us-gaap	Net Income Loss NetIncomeLoss	-13441000	usd
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	us-gaap	Preferred Stock Redemption Discount PreferredStockRedemptionDiscount	5111000	usd
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-13296000	usd
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-21933000	usd
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-21.48
	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-56.67
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	619000
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	387000
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CY2023Q3	avgr	Waiver Accretion Of Preferred Stock Dividends WaiverAccretionOfPreferredStockDividends	-2436000	usd
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	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	62000	usd
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	us-gaap	Nature Of Operations NatureOfOperations	<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>1. Organization</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Organization, Nature of Business</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Avinger, Inc. (the “Company”), a Delaware corporation, was incorporated in March 2007. The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral artery disease (“PAD”). Patients with PAD have a build-up of plaque in the arteries that supply blood to areas away from the heart, particularly the pelvis and legs. The Company manufactures and sells a suite of products in the United States (“U.S.”) and in select international markets. The Company has developed its Lumivascular platform, which integrates optical coherence tomography (“OCT”) visualization with interventional catheters and is the industry’s only system that provides real-time intravascular imaging during the treatment portion of PAD procedures. The Company’s Lumivascular platform consists of a capital component, Lightbox consoles, as well as a variety of disposable catheter products. The Company’s current catheter products include Ocelot, Tigereye and Tigereye ST, which are designed to allow physicians to penetrate a total blockage in an artery, known as a chronic total occlusion (“CTO”). The Company also has image-guided atherectomy products, Pantheris, Pantheris SV and Pantheris LV, which are designed to allow physicians to precisely remove arterial plaque in PAD patients. The Company is in the process of developing next-generation CTO crossing devices to target coronary CTO markets. The Company is located in Redwood City, California.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Liquidity Matters</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The accompanying financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) No. 2014-15, <i>Presentation of Financial Statements - Going Concern (Subtopic 205-40)</i> requires the Company to make certain disclosures if it concludes that there is substantial doubt about the entity’s ability to continue as a going concern within one year from the date of the issuance of these financial statements.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">In the course of its activities, the Company has incurred losses and negative cash flows from operations since its inception. As of September 30, 2023, the Company had an accumulated deficit of $415.7 million. The Company expects to incur losses for the foreseeable future. The Company believes that its cash and cash equivalents of $8.7 million at September 30, 2023 and expected revenues and funds from operations will be sufficient to allow the Company to fund its current operations through the end of the first quarter of 2024. The Company received net proceeds of approximately $4.4 million from the sale of its common stock in August 2022, $6.5 million from the sale of its common stock under an At The Market Offering Agreement from the time of activation through the quarter ended September 30, 2023 and $6.7 million from the sale of Series D preferred stock in January 2022. The Company may seek to raise additional funds in future equity offerings to meet its operational needs and capital requirements for product development, clinical trials and commercialization or other strategic objectives.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The Company can provide no assurance that it will be successful in raising funds pursuant to additional equity or debt financings or that such funds will be raised at prices that do not create substantial dilution for its existing stockholders. Given the volatility in the Company’s stock price, any financing that the Company may undertake in the next twelve months could cause substantial dilution to its existing stockholders, and there can be no assurance that the Company will be successful in acquiring additional funding at levels sufficient to fund its various endeavors. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. In addition, the macroeconomic environment has in the past resulted in and could continue to result in reduced consumer and investor confidence, instability in the credit and financial markets, volatile corporate profits, and reduced business and consumer spending, which could increase the cost of capital and/or limit the availability of capital to the Company.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">If the Company is unable to raise additional capital in sufficient amounts or on terms acceptable to it, the Company may have to significantly reduce its operations or delay, scale back or discontinue the development and sale of one or more of its products. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The Company’s ultimate success will largely depend on its continued development of innovative medical technologies, its ability to successfully commercialize its products and its ability to raise significant additional funding.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Additionally, due to the substantial doubt about the Company’s ability to continue operating as a going concern and the “Material Adverse Change” clause in the Loan Agreement with CRG Partners III L.P. and certain of its affiliated funds (collectively “CRG”), the entire amount of outstanding borrowings at September 30, 2023 and December 31, 2022 has been classified as current in these financial statements. CRG has not purported that an Event of Default (as defined in the Loan Agreement) has occurred due to a Material Adverse Change.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Currently substantially all of our cash and cash equivalents are held at a single financial institution, First Citizens Bank, which acquired our prior banking partner, Silicon Valley Bank in March 2023. On March 10, 2023, the Federal Deposit Insurance Corporation announced that Silicon Valley Bank had been closed by the California Department of Financial Protection and Innovation. While we have regained access to our accounts at Silicon Valley Bank and are evaluating our banking relationships, future disruptions of financial institutions where we bank or have credit arrangements, or disruptions of the financial services industry in general, could adversely affect our ability to access our cash and cash equivalents. If we are unable to access our cash and cash equivalents as needed, our financial position and ability to operate our business will be adversely affected.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Equity Offerings</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"><i>January 2022 Offering</i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">On January 14, 2022, the Company entered into a securities purchase agreement with several institutional investors pursuant to which the Company agreed to sell and issue, in a registered direct offering (“January 2022 Offering”), an aggregate of 7,600 shares of the Company’s Series D Convertible Preferred Stock, par value of $0.001 per share, at an offering price of $1,000 per share which was convertible into common stock at a conversion price of $120.00 per share. Concurrently, the Company agreed to issue to these investors warrants to purchase up to an aggregate of 53,833 shares of the Company’s common stock (the “Common Warrants”). As a result, the Company received aggregate net proceeds of approximately $6.7 million after underwriting discounts, commissions, legal and accounting fees, and other ancillary expenses.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The 53,833 Common Warrants have an exercise price of $144.00 per share and became exercisable beginning July 14, 2022. The Common Warrants will expire <span style="-sec-ix-hidden:c518">five</span> years following the time they become exercisable, or July 14, 2027. The Company also issued to the Placement Agent or its designees warrants to purchase up to an aggregate of 4,433 shares of common stock (the “Placement Agent Warrants”). The Placement Agent Warrants are subject to the same terms as the Common Warrants, except that the Placement Agent Warrants have an exercise price of $150.00 per share and a term of <span style="-sec-ix-hidden:c521">five</span> years from the commencement of the sales pursuant to the January 2022 Offering, or January 12, 2027.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"><i>August 2022 Offering</i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">On August 4, 2022, the Company entered into a securities purchase agreement with a single institutional investor for the issuance and sale of 98,935 shares of its common stock in a registered direct offering (“Registered Direct”) at a purchase price of $26.28 per share, or pre-funded warrants in lieu thereof. In a concurrent private placement, the Company also agreed to issue and sell to the investor 91,324 shares of common stock at the same purchase price as in the registered direct offering, or pre-funded warrants in lieu thereof (“Private Placement” and together with the Registered Direct offering the “August 2022 Offering”). As a result, the Company received aggregate net proceeds of approximately $4.4 million after underwriting discounts, commissions, legal and accounting fees, and other ancillary expenses.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">As a result, in the Registered Direct offering, the Company issued (i) 46,667 shares of common stock, (ii) and pre-funded warrants in lieu of common stock to purchase up to an aggregate of 52,268 shares of common stock (the “RD Pre-Funded Warrants”) and in the Private Placement, the Company issued pre-funded warrants to purchase up to an aggregate of 91,324 shares of common stock (the “Private Placement Pre-Funded Warrants” and together with the RD Pre-Funded Warrants the “August 2022 Pre-Funded Warrants”). As of September 30, 2023, all the Private Placement Pre-Funded Warrants were exercised leaving none outstanding.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">In addition, the Company issued to the investor in the August 2022 Offering Series A preferred investment options to purchase up to 190,259 additional shares of the Company’s common stock and Series B preferred investment options to purchase up to 190,259 additional shares of the Company’s common stock (the “Preferred Investment Options”). The Series A preferred investment options have an exercise price of $22.53 per share, are immediately exercisable, and will expire <span style="-sec-ix-hidden:c533">five</span> and one-half years from the date of issuance, or February 8, 2028, and the Series B preferred investment options also have an exercise price of $22.53 per share, are immediately exercisable, and will expire <span style="-sec-ix-hidden:c535">two</span> years from the date of issuance, or August 8, 2024. The Company also issued to the Placement Agent or its designees preferred investment options to purchase up to an aggregate of 11,416 shares of common stock (the “Placement Agent Preferred Investment Options”). The Placement Agent Preferred Investment Options are subject to the same terms as the Preferred Investment Options, except that the Placement Agent Preferred Investment Options have an exercise price of $32.85 per share and a term of <span style="-sec-ix-hidden:c538">five</span> years from the commencement of the sales pursuant to the August 2022 Offering, or August 3, 2027.</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"> </p> <p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"><i>At The Market Offering Agreement</i></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">On May 20, 2022, the Company entered into an At The Market Offering Agreement (the “ATM Agreement”) with H.C. Wainwright & Co., LLC (the “Agent”), as sales agent, pursuant to which the Company may offer and sell shares of common stock, par value $0.001 per share (the “Shares”) up to an aggregate offering price of $7,000,000 from time to time, in an at the market public offering. Sales of the Shares are to be made at prevailing market prices at the time of sale, or as otherwise agreed with the Agent. The Agent will receive a commission from the Company of 3.0% of the gross proceeds of any Shares sold under the ATM Agreement. The Shares sold under the ATM Agreement are offered and sold pursuant to the Company’s shelf registration statement on Form S-3, which was initially filed with the SEC on March 29, 2022 and declared effective on April 7, 2022, and a prospectus supplement and the accompanying prospectus relating to the At The Market Offering filed with the SEC on May 20, 2022. During the year ended December 31, 2022, the Company sold 39,048 shares of common stock pursuant to the ATM Agreement at an average price of $25.08 per share for aggregate proceeds of $1.0 million, of which approximately $29,000 was paid in the form of commissions to the Agent. On August 3, 2022, the Company suspended sales under the ATM Agreement. On March 17, 2023, the Company reactivated the ATM Agreement. During the quarter ended September 30, 2023, the Company sold 600,454 shares of common stock pursuant to the ATM Agreement at an average price of $8.99 per share for aggregate proceeds of approximately $5.4 million, of which approximately $162,000 was paid in the form of commissions to the Agent. During the nine months ended September 30, 2023, the Company sold 607,241 shares of common stock at an average price of $9.01 per share for aggregate proceeds of approximately $5.5 million, of which approximately $164,000 was paid in the form of commissions to the Agent. While the Company may attempt additional sales in the future, there can be no assurance that the Company will be successful in acquiring additional funding through these means.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">Other than the ATM Agreement, the Company currently does not have any commitments to obtain additional funds.</p>
CY2023Q3	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-415700000	usd
CY2023Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	8700000	usd
	us-gaap	Use Of Estimates UseOfEstimates	<p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Use of Estimates</b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt; text-indent: 36pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements. Management uses significant judgment when making estimates related to its stock-based compensation, accruals related to compensation, the valuation of the common stock warrants, provisions for doubtful accounts receivable and excess and obsolete inventories, clinical trial accruals, and its reserves for sales returns and warranty costs. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</p>
CY2023Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	612820
CY2022Q3	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	426378
CY2023Q2	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	128000	usd
CY2022Q2	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	137000	usd
CY2022Q4	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	109000	usd
CY2021Q4	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	187000	usd
CY2023Q3	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	18000	usd
CY2022Q3	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	6000	usd
	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	52000	usd
	us-gaap	Product Warranty Accrual Warranties Issued ProductWarrantyAccrualWarrantiesIssued	10000	usd
CY2023Q3	avgr	Product Warranty Accrual Payments And Release ProductWarrantyAccrualPaymentsAndRelease	7000	usd
CY2022Q3	avgr	Product Warranty Accrual Payments And Release ProductWarrantyAccrualPaymentsAndRelease	34000	usd
	avgr	Product Warranty Accrual Payments And Release ProductWarrantyAccrualPaymentsAndRelease	22000	usd
	avgr	Product Warranty Accrual Payments And Release ProductWarrantyAccrualPaymentsAndRelease	88000	usd
CY2023Q3	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	139000	usd
CY2022Q3	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	109000	usd
CY2023Q3	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	139000	usd
CY2022Q3	us-gaap	Product Warranty Accrual ProductWarrantyAccrual	109000	usd
CY2023Q3	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-2040000	usd
CY2022Q3	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-5214000	usd
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-13296000	usd
	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-21933000	usd
CY2023Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	698000
CY2022Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	453000
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	619000
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	387000
CY2023Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-2.92
CY2022Q3	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-11.51
CY2023Q3	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	2897000	usd
CY2022Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	3374000	usd
CY2023Q3	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	691000	usd
CY2022Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	17000	usd
CY2023Q3	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	1992000	usd
CY2022Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	1574000	usd
CY2023Q3	us-gaap	Inventory Net InventoryNet	5580000	usd
CY2022Q4	us-gaap	Inventory Net InventoryNet	4965000	usd
CY2019Q2	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	5800000	usd
CY2023Q3	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P1Y2M12D
CY2023Q3	us-gaap	Lessee Operating Lease Discount Rate LesseeOperatingLeaseDiscountRate	0.065	pure
	avgr	Operating Lease Expense Excluding Maintenance Fee And Other Expense Monthly OperatingLeaseExpenseExcludingMaintenanceFeeAndOtherExpenseMonthly	105000	usd
CY2023Q3	us-gaap	Operating Lease Expense OperatingLeaseExpense	314000	usd
CY2022Q3	us-gaap	Operating Lease Expense OperatingLeaseExpense	314000	usd
	us-gaap	Operating Lease Expense OperatingLeaseExpense	942000	usd
	us-gaap	Operating Lease Expense OperatingLeaseExpense	942000	usd
CY2023Q3	us-gaap	Variable Lease Cost VariableLeaseCost	65000	usd
CY2022Q3	us-gaap	Variable Lease Cost VariableLeaseCost	63000	usd
	us-gaap	Variable Lease Cost VariableLeaseCost	233000	usd
	us-gaap	Variable Lease Cost VariableLeaseCost	200000	usd
CY2023Q3	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	288000	usd
CY2022Q3	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	271000	usd
	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	852000	usd
	us-gaap	Operating Lease Right Of Use Asset Amortization Expense OperatingLeaseRightOfUseAssetAmortizationExpense	802000	usd
CY2023Q3	us-gaap	Prepaid Rent PrepaidRent	23000	usd
CY2022Q4	us-gaap	Prepaid Rent PrepaidRent	65000	usd
CY2023Q3	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	303000	usd
CY2023Q3	us-gaap	Lessee Operating Lease Liability Payments Due Next Twelve Months LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths	1138000	usd
CY2023Q3	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	1441000	usd
CY2023Q3	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	57000	usd
CY2023Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	1384000	usd
CY2023Q3	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	1384000	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	2194000	usd
CY2023Q3	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	1384000	usd
CY2022Q4	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	2194000	usd
CY2023Q3	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	1179000	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	1092000	usd
CY2023Q3	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	205000	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	1102000	usd
CY2023Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	1384000	usd
CY2022Q4	us-gaap	Operating Lease Liability OperatingLeaseLiability	2194000	usd
CY2022Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000
CY2023Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000
CY2022Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2023Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2023Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	62881
CY2023Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	62881
CY2022Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	60961
CY2022Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	60961
CY2023Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	100000000
CY2023Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.001
CY2023Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	1279928
CY2023Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	1279928
CY2023Q3	us-gaap	Class Of Warrant Or Right Outstanding ClassOfWarrantOrRightOutstanding	49815894
CY2023Q3	us-gaap	Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights	459019
CY2022Q4	us-gaap	Class Of Warrant Or Right Outstanding ClassOfWarrantOrRightOutstanding	51185758
CY2022Q4	us-gaap	Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights	550343
CY2023Q3	us-gaap	Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights	459019
CY2022Q4	us-gaap	Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights	550343
CY2023Q3	us-gaap	Share Price SharePrice	5.39
CY2023Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	219000	usd
CY2022Q3	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	39000	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	703000	usd
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	127000	usd

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$AVGR
Avinger Inc Stock $avgr

2023 Q4 Form 10-Q Financial Statement

#000143774923029118 Filed on October 26, 2023

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$AVGR Avinger Inc Stock $avgr

2023 Q4 Form 10-Q Financial Statement

#000143774923029118 Filed on October 26, 2023

Income Statement

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$AVGR
Avinger Inc Stock $avgr