Business
Ventripoint Diagnostics Reports Third Quarter 2023 Financial Results
(TheNewswire) Toronto, Ontario – The Newswire – November 29, 2023 - Ventr...
About this update from Ventripoint Diagnostics Ltd.
[{"type":"text","content":"Ventripoint Diagnostics Reports Third Quarter 2023 Financial Results\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Toronto, Ontario – The Newswire –\nNovember 29, 2023\n \n \n - Ventripoint Diagnostics Ltd.\n(\n \n \n \"Ventripoint\"\n \n \n or the\n \n \n \"Company\"\n \n \n ), (TSXV:VPT\n \n \n ) (\n \n \n OTC:VPTDF) today reported financial\nresults for the third quarter ended September 30, 2023.\n \n \n \n \n Third-quarter highlights\n \n \n \n \n \n Ventripoint has successfully and seamlessly integrated its specialized\nAI-powered 3D Echo software application with ASCEND’s diagnostic\nviewer, InView, and reporting application, Cardiovascular Structured\nReporting. This product was unveiled at a major pediatric cardiology\nconference this past August.  This cardiovascular workflow product\nprovides an end-to-end solution that rivals other products on the\nmarket. It is streamlined, smart, and effective for cardiology\nreading, reporting, and diagnostics, thereby improving diagnosis and\nmonitoring of fetal, pediatric, and adult congenital heart disease.\n \n \n \n \n \n \n As part of Ventripoint’s efforts to build awareness and drive\nadoption of the Ventripoint VMS+, the Company was featured in an\ninternational news-style programme, “The Hidden Heart”, made\npossible by the British Heart Foundation and ITN Business.  The\nprogramme, which documented how Ventripoint transforms ultrasound\nimages into 3D models of the heart and provides cardiac metrics with\nan accuracy comparative to cardiac MRI, launched on World Heart Day,\nSeptember 29th.  Ventripoint was one of a handful of technologies\nchosen to demonstrate innovations in treating heart disease.\n \n \n \n \n \n \n \n The Company recorded deferred sales for the nine months\nended September 30, 2023, of $71,984. This will be recorded as revenue\nwhen the clients take ownership of the units.\n \n \n \n \n \n \n \n \n During the three months ended September 30, 2023, the\nCompany recorded a net loss of $1,174,285, compared to a net loss of\n$1,404,688 for the three months ended September 30, 2022. The decrease\nin net loss was due primarily to decreases in general and\nadministrative expenses and sales and marketing...