IRVINE, Calif. (AP) _ Axonics Modulation Technologies Inc. (AXNX) on Thursday reported a loss of $22.5 million in its first quarter.

On a per-share basis, the Irvine, California-based company said it had a loss of 57 cents. Losses, adjusted for costs related to mergers and acquisitions, came to 46 cents per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 41 cents per share.

The medical technology company posted revenue of $34.4 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $27.9 million.

Axonics expects full-year revenue in the range of $176 million to $180 million.

Axonics shares have increased 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $56, a rise of 60% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXNX at https://www.zacks.com/ap/AXNX

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