IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — Axonics Modulation Technologies Inc. (AXNX) on Tuesday reported a loss of $19.1 million in its first quarter.
On a per-share basis, the Irvine, California-based company said it had a loss of 38 cents.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The medical technology company posted revenue of $91.4 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $91.6 million.
Axonics shares have increased slightly more than 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $66.77, a rise of 14% in the last 12 months.
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