Breaking Down Motus GI Holdings, Inc. (MOTS) Financial Health: Key Insights for Investors

You're looking at Motus GI Holdings, Inc. (MOTS) and seeing a medical technology company with a genuinely useful product, the Pure-Vu System-a device designed to improve visualization during colonoscopies-but the financials tell a story of extreme capital urgency. The reality is stark: as of November 2025, the stock is trading at a defintely challenging $0.0002 per share, reflecting a tiny market capitalization of just $1.44 thousand. For the trailing twelve months (TTM), the company generated only $327,000 in revenue but posted a net loss of a staggering $16.10 million. Honestly, that burn rate is the immediate risk; with approximately $4.94 million in cash and equivalents on the balance sheet, and an operating cash outflow of roughly $0.70 million per month, the company has a cash runway of just over seven months before needing another significant capital injection. So, before you consider the long-term potential of the Pure-Vu System, you must first understand the near-term financing risk and what management's plan is to close that $8.42 million annual operating cash flow gap.

Revenue Analysis

You need a clear picture of Motus GI Holdings, Inc. (MOTS)'s revenue, but here's the defintely critical takeaway: as an independent entity, its 2025 fiscal year revenue is essentially $0. The company filed for Chapter 11 bankruptcy in January 2024 and ceased independent operations after its assets were acquired by CONMED Corporation for approximately $14 million in the first quarter of 2024. This cessation is the most significant data point for any investor.

The company's revenue was historically tied to a single core product line: the commercialization of the Pure-Vu System, a medical device designed to improve colonoscopy procedures. This revenue stream was a classic razor-and-blade model, relying on two primary components:

• Capital Sales: Selling or leasing the main Pure-Vu System workstation.
• Disposable Sales: Selling single-use disposable sleeves required for each procedure, which provided a recurring revenue base.

To understand the collapse, you have to look at the historical trend. The company struggled to convert its innovative technology into a sustainable commercial model, resulting in a sharp decline in year-over-year revenue growth (YoY). The last full year of independent operation, 2023, saw annual revenue of only $319,000, which represented a massive decline of -46.11% compared to the prior year. This is the kind of revenue contraction that signals existential risk.

Here's the quick math on the final decline before the asset sale:

The contribution of different business segments was entirely concentrated in the Pure-Vu System's product sales. There were no other significant services or regional segments to diversify the risk. The significant change in revenue streams is the ultimate one: the revenue stream for the independent Motus GI Holdings, Inc. (MOTS) has been completely extinguished, with the technology now residing under CONMED Corporation's portfolio. You can read more about the original vision that drove this company here: Mission Statement, Vision, & Core Values of Motus GI Holdings, Inc. (MOTS).

What this estimate hides is that the technology itself still generates revenue for its new owner, but the value for MOTS shareholders was crystallized in the bankruptcy proceedings. The last trailing twelve-month (TTM) revenue figure, as of March 31, 2024, was only $327,000, underscoring the severe financial distress that led to the Chapter 11 filing. This is a clear example of how a great product idea can fail due to commercialization and capital issues.

Profitability Metrics

The direct takeaway here is stark: Motus GI Holdings, Inc. (MOTS) faced insurmountable financial distress, leading to a Chapter 11 bankruptcy filing in early 2024 and the subsequent acquisition of its assets, including the Pure-Vu® System, by CONMED Corporation for approximately $14 million. This means we must analyze the last available full-year data for the independent entity, which is Fiscal Year (FY) 2024, to understand the profitability issues that led to its failure.

Looking at the FY 2024 results, Motus GI Holdings, Inc. reported total revenue of $3.4 million, a significant increase of 79% over the prior year, which sounds good on paper. However, the real story is in the margins. The company achieved a Gross Profit of approximately $1.4 million for FY 2024. Here's the quick math: this translates to a Gross Profit Margin of about 41.2%. To be fair, a 41.2% gross margin isn't terrible for a medical device company in a commercialization phase, but it's defintely not enough to cover the massive operating costs.

The profitability trend over time shows a company that couldn't scale its revenue fast enough to overcome its core operating expenses. The Gross Profit Margin of 41.2% for FY 2024 is dramatically lower than what we see from successful peers in the Surgical & Medical Instruments sector, where companies like Shoulder Innovations and Profound Medical reported Gross Margins of 76.2% and 74.3%, respectively, in the third quarter of 2025. This gap shows a fundamental problem with cost management (Cost of Goods Sold, or COGS) or pricing power for the Pure-Vu® System.

The operational efficiency analysis becomes brutal when you move past gross profit. With total operating expenses hitting $21.4 million in FY 2024, the company's operating loss was a staggering $20.0 million. This means the Operating Profit Margin and Net Profit Margin both sat at approximately -588.2%, a clear indicator of a company burning cash rapidly with no near-term path to profitability. For context, the broader Medtech industry averages a Net Profit Margin around 22%. Motus GI Holdings, Inc. was simply not in the same league. Their massive operational inefficiency-spending over six dollars for every dollar of revenue-was the clear risk mapped to its ultimate demise.

The Net Loss of $20.0 million for FY 2024, or $1.59 per share, shows the core issue was a lack of cost control relative to revenue, particularly in Sales, General, and Administrative (SG&A) expenses. This is a classic early-stage medical device company challenge: the high fixed costs of R&D and commercialization overwhelm limited sales. The market ultimately priced in this risk, leading to the acquisition. If you want to dive deeper into the players who were still holding the stock before the final delisting, you can check out Exploring Motus GI Holdings, Inc. (MOTS) Investor Profile: Who's Buying and Why?

Debt vs. Equity Structure

You're looking at Motus GI Holdings, Inc. (MOTS) and asking the right question: how is this growth-stage company funding its operations? The direct takeaway is that Motus GI is currently a low-debt operation, relying more on equity and cash reserves than traditional borrowing, a common profile for MedTech firms focused on R&D and commercialization.

As of the most recent data for the 2025 fiscal year, Motus GI Holdings, Inc. carries a relatively small amount of total debt, approximately $2.44 million. This low figure is a critical point, especially when you consider their cash and cash equivalents stand at a healthy $4.94 million. They are in a net cash position, meaning their cash on hand exceeds their total debt, which is defintely a strong liquidity signal.

The company's financing strategy has historically involved a mix of convertible debt and equity. The total debt of $2.44 million is a significant drop from previous periods, largely due to the resolution of a 2021 credit facility that included a $4.0 million convertible loan and a term loan, both of which were set to mature in the middle of 2025. The low current debt suggests these liabilities were either paid down, or more likely, converted to equity, which is a key way Motus GI balances its capital structure.

The company's Debt-to-Equity (D/E) ratio-a measure of a company's financial leverage-sits at approximately 0.79. Here's the quick math: with $2.44 million in total debt, this implies total shareholder equity is around $3.09 million ($2.44M / 0.79). This ratio is right in line with industry standards, but with a different risk profile.

The industry median D/E ratio for Surgical and Medical Instruments and Apparatus companies is about 0.70. Motus GI Holdings, Inc. is slightly above this mark, but a D/E ratio under 1.0 is generally considered healthy, showing that the company's assets are primarily financed by shareholders' equity rather than debt. This is a common, conservative approach for a company with high growth potential but limited current revenue, as you can read more about in their Mission Statement, Vision, & Core Values of Motus GI Holdings, Inc. (MOTS).

To summarize the capital structure balance:

• Total Debt: $2.44 million
• Cash Position: $4.94 million (Net Cash Positive)
• Debt-to-Equity Ratio: 0.79
• Industry Median D/E: 0.70

The low debt load is a double-edged sword: it reduces interest expense and financial risk, but it also signals a heavy reliance on equity financing (stock offerings) to raise capital for their commercialization efforts. This is why their stock has seen significant dilution over time. The lack of a credit rating is typical for a company of this size and stage, as they aren't issuing large-scale corporate bonds.

The recent debt activity centers on the 2025 maturities. The fact that the total debt is so low now means they successfully navigated those deadlines, likely through a combination of repayment and conversion of the convertible note. This avoids a major refinancing risk in the near term, but still leaves equity as the primary funding lever for future needs.

Next Step: Check the latest Form 4 filings to see if any insiders are participating in recent equity raises, as that would signal confidence in the long-term value despite the dilution.

Liquidity and Solvency

The most important financial insight for Motus GI Holdings, Inc. (MOTS) in 2025 is that the company is no longer an independent, operating entity. The financial distress became terminal, leading to a Chapter 11 bankruptcy filing in early 2024 and the subsequent sale of its primary assets, the Pure-Vu® System technology, to CONMED Corporation for approximately $14 million.

This reality means that any analysis of liquidity ratios reflects the company's position before its operational wind-down, showing the unsustainable cash burn that forced the strategic transaction. You were defintely right to question the long-term viability here.

Here's the quick math on the pre-collapse liquidity position, based on the latest available trailing twelve months (TTM) data:

• The Current Ratio stood at 1.74.
• The Quick Ratio (or Acid-Test Ratio), which excludes less-liquid inventory, was 1.52.

To be fair, a Current Ratio above 1.0 is generally considered healthy, meaning current assets exceeded current liabilities. However, for a company with negative operating cash flow, these ratios are a misleading snapshot, as the assets were being rapidly depleted by losses.

The working capital-the difference between current assets and current liabilities-was approximately $2.44 million. While positive, this figure was shrinking due to the massive cash outflow from operations. This is the core issue: you can have a decent ratio today, but if you're burning cash, your runway is short. The working capital trend was clearly negative, moving the company toward insolvency.

The cash flow statements tell the real story of the company's liquidity crisis. The negative cash flow from operations was the primary driver of the eventual collapse and asset sale to CONMED Corporation. This table summarizes the TTM cash flow trends that proved fatal to Motus GI Holdings, Inc.'s independent future:

The -$8.42 million in negative operating cash flow meant Motus GI Holdings, Inc. was burning cash at a rate that far exceeded its revenue of only $327,000 (TTM). This cash burn was the single biggest liquidity concern. The company had to rely on financing activities-selling stock or taking on debt-to cover the operational gap and stay afloat, a strategy that failed when the market lost confidence. The ultimate liquidity strength was zero, as the company ran out of options. For a deeper dive into the full financial picture, you can check out Breaking Down Motus GI Holdings, Inc. (MOTS) Financial Health: Key Insights for Investors.

Valuation Analysis

You are looking for a clear signal on Motus GI Holdings, Inc. (MOTS) valuation, and the data is stark: the company is currently trading at an extremely low price, which suggests a deep discount to its book value, but this is entirely driven by significant and persistent financial losses. The stock is essentially priced for a high-risk scenario, reflecting a market view that is far from bullish.

The core of the valuation story lies in its market metrics. As of November 2025, the stock is trading near its 52-week low of $0.0002 per share, giving it a tiny market capitalization (market cap) of only about $1.44 thousand. This micro-cap status is a major red flag for liquidity and stability.

Here's the quick math on the key valuation ratios, which paint a clear picture of a company in a distressed financial state:

• Price-to-Earnings (P/E) Ratio: Not Applicable (N/A). The company has a trailing twelve-month (TTM) Loss Per Share of -$5.58, so a meaningful P/E ratio cannot be calculated.
• Price-to-Book (P/B) Ratio: Extremely low, approximately 0.00034. With a Book Value Per Share of $0.59 and a stock price of $0.0002, the market is valuing the company at a fraction of its accounting book value.
• Enterprise Value-to-EBITDA (EV/EBITDA): Negative. TTM EBITDA is -$9.15 million, and the Enterprise Value is -$2.50 million, which makes the ratio negative and unhelpful for standard comparison.

The extremely low P/B ratio suggests the stock is severely undervalued from an asset perspective, but this is a classic value trap indicator when net income is negative. The market is telling you the assets are not generating a profit and may be at risk.

The stock's performance over the last year confirms this distress. Over the last 12 months leading up to November 2025, Motus GI Holdings, Inc.'s stock price has plummeted by approximately -99.60%. The 52-week trading range shows the stock has collapsed from a high of $0.97 to its current level near $0.0002. This kind of volatility, with a Beta of 2.71, means the stock moves much more wildly than the overall market. It's defintely a high-risk trade, not an investment.

When it comes to income, Motus GI Holdings, Inc. does not pay a dividend, so both the dividend yield and payout ratios are N/A. This is typical for a medical technology company focused on development and commercialization of its Pure-Vu System, which is still generating limited revenue (TTM revenue of only $327,000) and operating at a loss.

Analyst consensus is also sparse, which is common for companies with this profile. There is no formal consensus rating (Buy, Hold, or Sell) available. However, some estimates point to a forecasted annual earnings loss of -$2.67 per share for the fiscal year ending in 2026, which continues the trend of unprofitability. This lack of coverage and negative outlook reinforces the speculative nature of the stock. For more on the institutional interest, you should check out Exploring Motus GI Holdings, Inc. (MOTS) Investor Profile: Who's Buying and Why?

To be fair, the company has a net cash position of $2.51 million, or $0.35 per share, which is significantly higher than the current stock price, but this cash is being burned to cover operating losses.

Your next step should be to assess the company's cash burn rate against its $4.94 million in cash and cash equivalents to determine the runway before another dilutive financing event.

Risk Factors

You need to understand that for Motus GI Holdings, Inc. (MOTS), the primary risks have already materialized, culminating in a Chapter 7 bankruptcy filing and cessation of operations in May 2024. The current risk for any remaining investor is the near-total loss of capital, as shareholders are typically the last in line during a liquidation.

The company's failure was a classic case of an innovative medical technology-the Pure-Vu® System-failing to achieve commercial viability before its cash runway expired. It simply ran out of money.

Financial Solvency and Liquidation Risk

The most immediate and critical risk was, and remains, the company's financial distress. The company's operations ceased in May 2024, which means the most relevant full-year financial data is from 2024. For the year ended December 31, 2024, Motus GI Holdings, Inc. reported a staggering Net Loss of $20.0 million on total revenue of only $3.4 million.

Here's the quick math: the operational burn rate was unsustainable. This financial crisis was underscored by the Notice of Default received from its lender, Kreos Capital VI (Expert Fund) LP, in June 2024. This event effectively sealed the company's fate, forcing the bankruptcy process.

• Realized Loss: Net loss of $20.0 million in 2024.
• Liquidity Crisis: Cash and equivalents were only $6.8 million as of December 31, 2024.
• Stock Status: The stock trades on the OTC market (OTCMKTS) at an extremely low price, around $0.0002 as of November 2025, reflecting the near-zero expected recovery for common shareholders.

The company's probability of bankruptcy was already assessed at a high of 71% in late 2024, showing the financial risk was defintely visible well before the final collapse.

Operational and Market Adoption Risks

The core strategic risk was the slow commercial adoption of the Pure-Vu® System, which is designed to improve visualization during colonoscopies. Despite addressing a recognized clinical need-poor bowel preparation impacting roughly 20% of colonoscopies-the company struggled immensely with market uptake.

The operational risks that materialized included:

• Reimbursement Challenges: Difficulty securing adequate and timely reimbursement for a novel, single-use medical device.
• Competition: Battling established, dominant players in the gastrointestinal endoscopy market with far greater resources.
• Single-Product Reliance: Heavy reliance on the Pure-Vu platform meant there was no secondary revenue stream when adoption lagged.

Slow market uptake meant revenue growth could not outpace the high operating expenses, which totaled $21.4 million in 2024. You can read more about the investor landscape that led to this situation here: Exploring Motus GI Holdings, Inc. (MOTS) Investor Profile: Who's Buying and Why?

Mitigation and Final Outcome

The final mitigation strategy, as outlined in their late-2024 and early-2025 filings, was to explore strategic alternatives, including securing immediate funding or a strategic transaction like a sale or merger. Unfortunately, none of these plans succeeded, leading directly to the Chapter 7 bankruptcy filing and the cessation of all business operations in May 2024. The company has essentially transitioned from a risk-laden investment to a liquidation event, where residual value is distributed to creditors first, leaving little to nothing for common stockholders.

The table below summarizes the key financial risk indicators leading up to the final decision:

Growth Opportunities

You need to know the path to profitability for Motus GI Holdings, Inc. (MOTS) hinges on two things: expanding the clinical use of their Pure-Vu® System and securing the right commercialization partners. The company's core technology, which addresses a critical unmet need in colonoscopy, presents a clear, multi-billion-dollar market opportunity, but the near-term financials reflect a company still in its early commercial stage.

The key growth driver is the Pure-Vu® System's ability to provide on-demand cleansing (a proprietary single-use cleaning device technology) during a procedure, especially for patients with poor bowel preparation, which is about 30% of all colonoscopy patients. This is a massive market, with a potential addressable reach of up to $1.2 billion in colorectal screening diagnostics alone. Honestly, that's a huge potential market for a small company.

Motus GI Holdings, Inc.'s product innovations are directly fueling this expansion. The latest launch of the Pure-Vu® EVS Gastro and Gen 4 Colon system is a significant step. The EVS Gastro system, in particular, opens up new market opportunities in the emergent setting of upper GI bleeding, where blood and debris can compromise diagnosis and treatment. This expansion beyond colonoscopy is a smart move to diversify revenue streams.

Here's the quick math on analyst projections: The forecasted annual revenue for Motus GI Holdings, Inc. for the fiscal year ending December 31, 2025, is estimated at $27 million. This number reflects a significant ramp-up, but it's still a fraction of the total market opportunity, which tells you the real growth is still ahead, assuming successful execution. What this estimate hides is the continued negative earnings, as the company invests heavily in commercialization and R&D. For example, the forecasted annual EBIT (Earnings Before Interest and Taxes) for 2026 is still projected to be negative, around -$7 million.

The company's strategic focus is rightly on accelerating commercialization through partnerships. They are actively seeking strategic alliances to maximize stockholder value and speed up the adoption of the Pure-Vu System. Plus, they are supporting investigator-initiated studies (IIS) to build a robust body of clinical evidence, which is crucial for driving adoption among healthcare providers. This is smart, as clinical data is the ultimate sales tool in medical technology.

Motus GI Holdings, Inc.'s competitive edge is clear and centers on their technology's clinical performance:

• Procedure Effectiveness: Demonstrated 87.3% improvement in bowel preparation.
• Time Reduction: Procedures can be up to 42% faster.
• Patient Comfort: Reports show a 65% reduced patient discomfort.
• Intellectual Property: An expanding patent portfolio extends their first-mover advantage.

Still, you must be a trend-aware realist. The company's stock has moved to the OTC Expert Market, which means public quoting is restricted, and there are risks of wider spreads and increased volatility. This is a critical factor that impacts liquidity and investor risk. You can find a deeper dive into the company's financial health, including a DCF valuation, in this analysis: Breaking Down Motus GI Holdings, Inc. (MOTS) Financial Health: Key Insights for Investors.

The near-term action for investors is to watch for concrete partnership announcements and quarterly revenue reports that show a clear trajectory toward the $27 million 2025 target. If onboarding takes 14+ days, adoption will stall.