Acutus Medical, Inc.

Overview

• IndustrySurgical & Medical Instruments & Apparatus¹
• HeadquartersCarlsbad, California¹
• Incorporated inDE²
• Business address2210 Faraday Ave, Suite 100, Carlsbad, Ca 92008²
• Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company²
• Legal formCorporation

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Historically, we designed, manufactured and marketed a range of tools for catheter-based ablation procedures to treat various arrhythmias. Our product portfolio included novel access sheaths, diagnostic and mapping catheters, conventional and contact ablation catheters, mapping and imaging consoles and accessories, as well as supporting algorithms and software programs. Our foundational product was our AcQMap Imaging and Mapping System, which was designed to rapidly and accurately identify ablation targets and to confirm both ablation success and procedural completion.⁴ From its latest annual report

Corporate structure

Acutus Medical, Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Acutus Medical, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Investments

Intangibles and goodwill

Inventory

Properties, in its own words

As of December 31, 2024, we lease approximately 50,800 square feet of office space for our corporate headquarters and manufacturing facility located in Carlsbad, California under a noncancelable operating lease that expires on December 31, 2027, with the option to renew for a period of an additional five years upon the expiration date of this lease. We also leased approximately 3,900 square feet of office space in Brussels, Belgium under a noncancelable operating lease that expired on December 31, 2024. We did not renew this contract. We believe that the Carlsbad facility is sufficient to meet our current and anticipated needs in the near term and that any unused space can be subleased on commercially reasonable terms.

Item 2 of the 10-K filed Mar 24, 2025.⁴

Leadership

Who has led Acutus Medical, Inc., and when. Pick a name to see everywhere that person has worked.

• Chief executive officerDavid Roman Aug 1, 2022 to Jan 18, 2024¹⁴
• Chief executive officerVincent J. Burgess Aug 5, 2020 to Apr 5, 2022¹⁵
• PresidentDavid Roman Aug 1, 2022 to Jan 18, 2024¹⁴
• Chief financial officerTakeo Mukai Aug 29, 2022 to Mar 4, 2024¹⁶
• Chief financial officerDavid Roman Mar 11, 2021 to Jun 2, 2022¹⁷
• Chief financial officerGary W. Doherty Aug 5, 2020 to Aug 7, 2020¹⁸

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

• Acutus Medical, N.V. Belgium³

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

1. Mar 24, 20258-K Results of operations³⁵
2. Jan 21, 20258-K Entered a material agreement; Change to shareholders' rights; Other events³⁶
3. Dec 4, 20248-K Exit or restructuring costs; Executive or director change; Regulation FD disclosure³⁷
4. Nov 15, 20248-K Entered a material agreement³⁸
5. Nov 14, 20248-K Results of operations³⁹
6. Oct 17, 20248-K Entered a material agreement; Ended a material agreement⁴⁰
7. Aug 8, 20248-K Results of operations⁴¹
8. Jun 14, 20248-K Shareholder vote⁴²
9. May 17, 20248-K Listing notice or transfer⁴³
10. May 9, 20248-K Results of operations⁴⁴
11. May 3, 20248-K Listing notice or transfer⁴⁵
12. Apr 1, 20248-K Results of operations⁴⁶
13. Aug 1, 2022New chief executive David Roman becomes CEO¹⁴
14. Aug 5, 2020New chief executive Vincent J. Burgess becomes CEO¹⁵

Calendar

When it reported results

1. Mar 24, 2025Reported quarterly or annual results³⁵
2. Nov 14, 2024Reported quarterly or annual results³⁹
3. Aug 8, 2024Reported quarterly or annual results⁴¹
4. May 9, 2024Reported quarterly or annual results⁴⁴
5. Apr 1, 2024Reported quarterly or annual results⁴⁶
6. Nov 8, 2023Reported quarterly or annual results⁴⁷
7. Aug 7, 2023Reported quarterly or annual results⁴⁸
8. May 11, 2023Reported quarterly or annual results⁴⁹

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

179 filings to the SEC since October 2021: 4 annual reports, 10 quarterly reports, 48 major events, 69 insider forms, 14 large holders, 1 private raises, 33 other. The latest 20:

1. Feb 17, 2026SCHEDULE 13G/A EDGAR
2. Mar 24, 202510-K EDGAR
3. Mar 24, 20258-K EDGAR
4. Jan 28, 20254 EDGAR
5. Jan 28, 2025SCHEDULE 13D/A EDGAR
6. Jan 24, 202515-15D EDGAR
7. Jan 23, 2025EFFECT EDGAR
8. Jan 23, 2025EFFECT EDGAR
9. Jan 23, 2025SCHEDULE 13D/A EDGAR
10. Jan 21, 2025S-8 POS EDGAR
11. Jan 21, 2025S-8 POS EDGAR
12. Jan 21, 2025S-8 POS EDGAR
13. Jan 21, 2025S-8 POS EDGAR
14. Jan 21, 2025S-8 POS EDGAR
15. Jan 21, 2025POS AM EDGAR
16. Jan 21, 2025POS AM EDGAR
17. Jan 21, 20258-K EDGAR
18. Dec 16, 2024SC 13D/A EDGAR
19. Dec 4, 20248-K EDGAR
20. Nov 15, 20248-K EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

2 open-market trades by officers, directors and large owners since October 2021: 1 buys and 1 sales. Grants, option exercises and gifts are left out.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

• Advent Life Sciences LLPSCHEDULE 13G/A, 2 filings Feb 14, 2022 to Feb 17, 2026⁵⁰
• James E. FlynnSCHEDULE 13D/A, 6 filings Apr 27, 2022 to Jan 28, 2025⁵¹
• Laurence W. LyttonSC 13G/A, 2 filings May 17, 2024 to Nov 14, 2024⁵²
• Capital World InvestorsSC 13G/A, 2 filings Feb 11, 2022 to Feb 13, 2023⁵³
• Kerrisdale Advisers, LLCSC 13G/A, 1 filing Feb 11, 2022⁵⁴
• ORBIMED ADVISORS LLCSC 13D/A, 1 filing Nov 18, 2021⁵⁵

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

1. Jun 30, 2022Filed a private offering of securities⁵⁶ Form D: $4.2 million offered in all Form D

SEC filer profile

How Acutus Medical, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARAcutus Medical, Inc.¹
• CIK0001522860
• Employer ID (EIN)45-1306615⁴
• Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company⁴
• Incorporated inDelaware⁴
• Fiscal year endsDecember 31¹
• Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus¹
• SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance¹
• Business address2210 Faraday Ave, Suite 100, Carlsbad, CA 92008¹
• Phone442-232-6080¹
• Shares outstanding29,912,305 shares as of Mar 17, 2025⁴
• Public float$1.1M as of Jun 28, 2024⁴
• AuditorKPMG LLP, San Diego, California PCAOB ID 185; no auditor attestation of internal control over financial reporting⁴
• On EDGAR sinceJun 15, 2011¹
• Filings293 in all: 4 (94), 8-K (58), 3 (21), 10-Q (14), SC 13D/A (10), CORRESP (8), D (8), EFFECT (6)¹
  All 40 form types

  10-K (5), S-8 (5), S-8 POS (5), SC 13G (5), UPLOAD (5), D/A (4), DEF 14A (4), DEFA14A (4), SC 13G/A (4), 424B4 (2), 8-K/A (2), ARS (2), DRS (2), DRSLTR (2), POS AM (2), S-1 (2), S-3 (2), SC 13D (2), SCHEDULE 13D/A (2), 144 (1), 15-15D (1), 25-NSE (1), 4/A (1), 424B3 (1), 424B5 (1), 8-A12B (1), CERT (1), DRS/A (1), S-1/A (1), S-1MEF (1), SCHEDULE 13G/A (1), SD (1)

• Latest filingsAnnual report (10-K) Mar 24, 2025
  Quarterly report (10-Q) Nov 14, 2024
  Proxy statement (DEF 14A) Apr 25, 2024
  Latest 8-K (8-K) Mar 24, 2025

Risk factors and legal proceedings

The risks Acutus Medical, Inc. names in Item 1A of its 10-K filed Mar 24, 2025: 39 risks under these headings, as written.⁴

• Risks Related to our Business
• We are dependent on Medtronic for all of our revenue, with no sales or marketing capabilities of our own, and following the completion of the Operational Downsizing and occurrence of the Second Closing, we will have no manufacturing capabilities of our own, and our business will rely solely on our ability to capture the value associated with potential earnout payments we are eligible to receive under the Asset Purchase Agreement until 2027.
• There are continued risks associated with the Restructuring and Operational Downsizing, including our ability to manage the transition costs to realize the anticipated benefits.
• Our ability to continue to have the liquidity necessary to service our debt, meet contractual payment obligations and fund our operations depends on many factors, including our ability to generate sufficient cash flow from operations or obtain other financing.
• Our board of directors may decide to pursue a liquidation and dissolution of our business prior to or following the conclusion of the Net Sales Earnout period. In such an event, the amount of cash available for distribution to our stockholders, if any, will depend heavily on the timing of such liquidation as well as the amount of cash that will need to be reserved for commitments and contingent liabilities, including under our 2022 Credit Agreement.
• Defects or failures associated with the Products we have manufactured for Medtronic under the Distribution Agreement may have a material adverse effect on our business, financial condition, cash flows and results of operations.
• If we are unable to comply with our remaining obligations to Medtronic, it could have a material adverse effect on our business, results of operation, cash flows and financial position.
• If we underestimate Medtronic demand for the Products, or if the Second Closing does not occur or does not occur on the timeline we anticipate, we may encounter substantial difficulties managing the ramp up of our operations given our Operational Downsizing. If we are unable to meet Medtronic demand, we may be in violation of our obligations under the Distribution Agreement and Asset Purchase Agreement and lose the earnouts we are eligible to receive under these agreements.
• The terms of our 2022 Credit Agreement, require us to meet certain operating and financial covenants and place restrictions on our operating and financial flexibility. If we raise additional capital through debt financing, the terms of any new debt could further restrict our ability to operate our business.
• Taxing authorities may successfully assert that we should have collected or in the future should collect sales and use, gross receipts, value added or similar taxes and may successfully impose additional obligations on us, and any such assessments or obligations could adversely affect our business, financial condition and results of operations.
• Our ability to utilize our net operating loss carryforwards may be limited.
• If we experience significant disruptions in our information technology systems, our business may be adversely affected.

Legal proceedings

From time to time, we are involved in legal proceedings, including litigation arising from the normal course of our business activities. We have also received, and may from time to time receive, letters from third parties alleging patent infringement, violation of employment practices or trademark infringement, and we may in the future participate in litigation to defend ourselves. The results of any current or future litigation cannot be predicted with certainty, and regardless of the outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors. Other than the matters listed below, we are not currently party to any pending legal proceedings that we believe would, individually or in the aggregate, have a material adverse effect on our financial condition, cash flows or results of operations.

The opening of Item 3, Legal Proceedings.⁴