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VTAK (Catheter Precision) Beneish M-Score : -2.17 (As of Mar. 16, 2025)


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What is Catheter Precision Beneish M-Score?

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.17 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Catheter Precision's Beneish M-Score or its related term are showing as below:

VTAK' s Beneish M-Score Range Over the Past 10 Years
Min: -20.43   Med: -2.5   Max: 156.03
Current: -2.17

During the past 8 years, the highest Beneish M-Score of Catheter Precision was 156.03. The lowest was -20.43. And the median was -2.50.


Catheter Precision Beneish M-Score Historical Data

The historical data trend for Catheter Precision's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Catheter Precision Beneish M-Score Chart

Catheter Precision Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial -4.70 -3.86 66.36 -1.69 -

Catheter Precision Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 156.03 - 0.32 -2.49 -2.17

Competitive Comparison of Catheter Precision's Beneish M-Score

For the Medical Devices subindustry, Catheter Precision's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Catheter Precision's Beneish M-Score Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Catheter Precision's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Catheter Precision's Beneish M-Score falls into.



Catheter Precision Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Catheter Precision for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.8305+0.528 * 1.0243+0.404 * 1.1355+0.892 * 1.2707+0.115 * 0.957
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0.3866+4.679 * -0.09026-0.327 * 2.3498
=-2.17

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Sep24) TTM:Last Year (Sep23) TTM:
Total Receivables was $0.11 Mil.
Revenue was 0.096 + 0.093 + 0.082 + 0.128 = $0.40 Mil.
Gross Profit was 0.086 + 0.077 + 0.077 + 0.121 = $0.36 Mil.
Total Current Assets was $1.71 Mil.
Total Assets was $26.75 Mil.
Property, Plant and Equipment(Net PPE) was $0.24 Mil.
Depreciation, Depletion and Amortization(DDA) was $2.10 Mil.
Selling, General, & Admin. Expense(SGA) was $10.98 Mil.
Total Current Liabilities was $2.59 Mil.
Long-Term Debt & Capital Lease Obligation was $1.54 Mil.
Net Income was -4.12 + -4.22 + -2.675 + -0.669 = $-11.68 Mil.
Non Operating Income was -1.236 + -1.505 + -0.089 + 1.856 = $-0.97 Mil.
Cash Flow from Operations was -2.768 + -1.697 + -1.942 + -1.889 = $-8.30 Mil.
Total Receivables was $0.05 Mil.
Revenue was 0.133 + 0.096 + 0.085 + 0 = $0.31 Mil.
Gross Profit was 0.127 + 0.089 + 0.075 + 0 = $0.29 Mil.
Total Current Assets was $5.78 Mil.
Total Assets was $32.87 Mil.
Property, Plant and Equipment(Net PPE) was $0.26 Mil.
Depreciation, Depletion and Amortization(DDA) was $1.58 Mil.
Selling, General, & Admin. Expense(SGA) was $22.35 Mil.
Total Current Liabilities was $2.04 Mil.
Long-Term Debt & Capital Lease Obligation was $0.12 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(0.107 / 0.399) / (0.046 / 0.314)
=0.26817 / 0.146497
=1.8305

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(0.291 / 0.314) / (0.361 / 0.399)
=0.926752 / 0.904762
=1.0243

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (1.714 + 0.238) / 26.745) / (1 - (5.776 + 0.259) / 32.871)
=0.927014 / 0.816404
=1.1355

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=0.399 / 0.314
=1.2707

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(1.583 / (1.583 + 0.259)) / (2.095 / (2.095 + 0.238))
=0.859392 / 0.897985
=0.957

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(10.98 / 0.399) / (22.351 / 0.314)
=27.518797 / 71.181529
=0.3866

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((1.536 + 2.586) / 26.745) / ((0.121 + 2.035) / 32.871)
=0.154122 / 0.06559
=2.3498

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-11.684 - -0.974 - -8.296) / 26.745
=-0.09026

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Catheter Precision has a M-score of -2.17 suggests that the company is unlikely to be a manipulator.


Catheter Precision Beneish M-Score Related Terms

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Catheter Precision Business Description

Traded in Other Exchanges
N/A
Address
1670 Highway 160 West, Suite 205, Fort Mill, SC, USA, 29708
Catheter Precision Inc is engaged in design, manufacture and sale of new and innovative medical technologies primarily focused in the field of cardiac electrophysiology, or EP. The Company's primary product is the View into Ventricular Onset System (VIVO or VIVO System) which is a non-invasive imaging system that offers 3D cardiac mapping to help with localizing the sites of origin of idiopathic ventricular arrhythmias in patients with structurally normal hearts prior to EP procedures. The VIVO system has achieved a CE Mark allowing it to be commercialized in the European Union and has been placed at several hospitals in Europe. Its newest product, the Surgical Vessel Closing Pressure Device (LockeT), is a suture retention device indicated for wound healing by distributing suture tension.
Executives
Martin J Colombatto director
David A Jenkins director, officer: Executive Chairman of Board P.O. BOX 682838, PARK CITY UT 84068
Steven K Passey officer: Chief Financial Officer 3216 SOUTH HIGHLAND DRIVE, SUITE 200, SALT LAKE CITY UT 84117
James Joseph Caruso director 28 FIRST AVE, SEASIDE PARK NJ 08752
Brian Conn officer: Chief Financial Officer MICROISLET, INC., 6370 NANCY RIDGE DRIVE, SUITE 112, SAN DIEGO CA 92121
Andrew C. Jackson officer: CFO & Secretary 11988 EL CAMINO REAL STE. 650, SAN DIEGO CA 92130
Jonathan Will Mcguire director, officer: Chief Executive Officer 96 TALAMINE COURT, COLORADO SPRINGS CO 80907
Susanne Meline director P.O. BOX 515381, #86506, LOS ANGELES CA 90051
Richard Jr Mejia director 2200 FARADAY AVENUE, SUITE 100, CARLSBAD CA 92008
William R Enquist director 11810 WILLS ROAD, ALPHARETTA GA 30009
Joan Stafslien director CAREFUSION CORPORATION, 3750 TORREY VIEW COURT, SAN DIEGO CA 92130
Daniel Horwood officer: General Counsel C/O RA MEDICAL SYTEMS, INC., 2070 LAS PALMAS DRIVE, CARLSBAD CA 92011
Jeffrey J Kraws officer: Co-President 3985 RESEARCH PARK DRIVE, ANN ARBOR MI 48108
Dean Irwin director, 10 percent owner, officer: See Remarks C/O RA MEDICAL SYSTEMS, INC., 2070 LAS PALMAS DRIVE, CARLSBAD CA 92011
Martin Burstein 10 percent owner C/O RA MEDICAL SYSTEMS, INC., 2070 LAS PALMAS DRIVE, CARLSBAD CA 92011