NasdaqCM:AVGR

Stock Analysis Report

Executive Summary

Avinger, Inc., a commercial-stage medical device company, designs, manufactures, and sells image-guided and catheter-based systems used by physicians to treat patients with peripheral arterial disease (PAD) in the United States and Europe.

Snowflake

Fundamentals

Mediocre balance sheet with limited growth.

Risks

  • Avinger has significant price volatility in the past 3 months.
  • Avinger is covered by less than 3 analysts.

Similar Companies

Share Price & News

How has Avinger's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-4.4%

AVGR

1.1%

US Medical Equipment

-0.6%

US Market


1 Year Return

-92.3%

AVGR

9.9%

US Medical Equipment

0.6%

US Market

AVGR underperformed the Medical Equipment industry which returned 9.5% over the past year.

AVGR underperformed the Market in United States of America which returned 1.1% over the past year.


Share holder returns

AVGRIndustryMarket
7 Day-4.4%1.1%-0.6%
30 Day-4.4%0.6%2.2%
90 Day-74.2%2.9%1.1%
1 Year-92.3%-92.3%10.8%9.9%2.9%0.6%
3 Year-99.9%-99.9%70.1%64.9%44.6%35.2%
5 Yearn/a138.9%111.8%61.9%44.2%

Price Volatility Vs. Market

How volatile is Avinger's share price compared to the market and industry in the last 5 years?


Simply Wall St News

1 year ago | Simply Wall St

What Investors Should Know About Avinger Inc's (NASDAQ:AVGR) Financial Strength

Valuation

Is Avinger undervalued based on future cash flows and its price relative to the stock market?

0.7x

Price to Book (PB) ratio


Intrinsic Value Based on Future Cash Flows

Unable to calculate intrinsic value for Avinger to establish if it is available at moderate discount.

Unable to calculate intrinsic value for Avinger to establish if it is available at substantial discount.


Price Based on Earnings

Avinger is loss making, we can't compare its value to the US Medical Equipment industry average.

Avinger is loss making, we can't compare the value of its earnings to the United States of America market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Avinger, we can't assess if its growth is good value.


Price Based on Value of Assets

Avinger is good value based on assets compared to the US Medical Equipment industry average.


Next Steps

Future Growth

How is Avinger expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

24.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Avinger's revenue is expected to grow significantly at over 20% yearly.

Avinger is not considered high growth as it is expected to be loss making for the next 1-3 years.

Avinger's revenue growth is expected to exceed the United States of America market average.

Unable to compare Avinger's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.

Unable to compare Avinger's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Avinger will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has Avinger performed over the past 5 years?

0.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Avinger does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.

Unable to compare Avinger's 1-year earnings growth to the 5-year average as it is not currently profitable.

Unable to compare Avinger's 1-year growth to the US Medical Equipment industry average as it is not currently profitable.


Return on Equity

It is difficult to establish if Avinger has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.


Return on Assets

It is difficult to establish if Avinger has efficiently used its assets last year compared to the US Medical Equipment industry average (Return on Assets) as it is loss-making.


Return on Capital Employed

It is difficult to establish if Avinger improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is Avinger's financial position?


Financial Position Analysis

Avinger is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Avinger's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Avinger's level of debt (82.7%) compared to net worth is high (greater than 40%).

Avinger had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 2.5x debt.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Avinger has less than a year of cash runway based on current free cash flow.

Avinger has less than a year of cash runway if free cash flow continues to reduce at historical rates of -44.3% each year.


Next Steps

Dividend

What is Avinger's current dividend yield, its reliability and sustainability?


Dividend Yield and Payments Analysis

Unable to evaluate Avinger's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Avinger's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Avinger has not reported any payouts.

Unable to verify if Avinger's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Avinger has not reported any payouts.


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of Avinger's salary, the management and board of directors tenure and is there insider trading?

2.2yrs

Average management tenure


CEO

Jeff Soinski (57yo)

4.8yrs

Tenure

US$1,292,539

Compensation

Mr. Jeffrey M. Soinski, also known as Jeff, has been Chief Executive Officer, President and Director of Avinger, Inc. (“Avinger”) since December 29, 2014. From Avinger’s formation in September 2009 until t ...


CEO Compensation Analysis

Jeff's remuneration is higher than average for companies of similar size in United States of America.

Jeff's compensation has increased whilst company is loss making.


Management Age and Tenure

2.2yrs

Average Tenure

51.5yo

Average Age

The tenure for the Avinger management team is about average.


Board Age and Tenure

5.7yrs

Average Tenure

61.5yo

Average Age

The tenure for the Avinger board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Jeff Soinski (57yo)

    President

    • Tenure: 4.8yrs
    • Compensation: US$1.29m
  • Mark Weinswig (46yo)

    Chief Financial Officer

    • Tenure: 1.3yrs
    • Compensation: US$709.84k
  • Keith Schaefer

    Chief Operating Officer

    • Tenure: 0yrs
  • Himanshu Patel (59yo)

    Chief Technology Officer

    • Tenure: 5.9yrs
    • Compensation: US$820.56k
  • Phil Preuss (41yo)

    Vice President of Marketing & Business Operations

    • Tenure: 2.3yrs
  • Corey Gibbs

    Vice President of Sales

    • Tenure: 2.1yrs
  • Jaafer Golzar

    Chief Medical Officer

    • Tenure: 1.2yrs

Board Members

  • Jim McElwee (66yo)

    Independent Director

    • Tenure: 8.5yrs
    • Compensation: US$140.00k
  • Don Lucas (56yo)

    Independent Director

    • Tenure: 6.7yrs
    • Compensation: US$142.50k
  • Jim Cullen (76yo)

    Non-Executive Chairman & Lead Independent Director

    • Tenure: 1.8yrs
    • Compensation: US$157.50k
  • Jeff Soinski (57yo)

    President

    • Tenure: 4.8yrs
    • Compensation: US$1.29m

Company Information

Avinger, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Avinger, Inc.
  • Ticker: AVGR
  • Exchange: NasdaqCM
  • Founded: 2007
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: US$11.054m
  • Shares outstanding: 10.23m
  • Website: https://www.avinger.com

Number of Employees


Location

  • Avinger, Inc.
  • 400 Chesapeake Drive
  • Redwood City
  • California
  • 94063
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AVGRNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDJan 2015
VG2BDB (Deutsche Boerse AG)YesCommon StockDEEURJan 2015

Biography

Avinger, Inc., a commercial-stage medical device company, designs, manufactures, and sells image-guided and catheter-based systems used by physicians to treat patients with peripheral arterial disease (PAD ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/21 00:14
End of Day Share Price2019/09/20 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.