Apollo endosurgery, inc. reports record $19.6 million global revenue in third quarter 2022

Grew global revenue 20% gaap, 24% in constant currency received fda authorization for apollo esgtm and apollo revisetm systems for treating patients with obesity austin, tx / accesswire / november 1, 2022 / apollo endosurgery, inc. ("apollo") (nasdaq:apen), a global leader in less invasive medical devices for gastrointestinal and bariatric procedures, today announced financial results for the third quarter ended september 30, 2022 and recent corporate highlights. third quarter 2022 selected financial results (numbers in millions, except percentages) quarter ended september 30, 2022 nine months ended september 30, 2022 revenue $ 19.6 $ 55.5 gross margin 54.9 % 55.9 % operating expenses $ 17.0 $ 51.2 non-gaap adjusted operating expenses $ 15.2 $ 46.2 operating loss $ (6.3 ) $ (20.1 ) net loss $ (11.4 ) $ (30.3 ) non-gaap adjusted ebitda $ (3.6 ) $ (13.0 ) cash, cash equivalents and restricted cash $ 67.9 $ 67.9 third quarter and recent corporate highlights grew third quarter 2022 u.s. revenue by 29% and ous revenue by 9% (18% in constant currency) over the same period in 2021; grew third quarter 2022 endoscopic suturing system (ess) revenue 41% (45% in constant currency) over the same period in 2021; increased third quarter 2022 revenue from the company's top 10 direct accounts by approximately 80% over the same period in 2021; secured fda marketing authorizations for apollo esgtm and apollo revisetm, new endoscopic systems for treatment of patients with obesity (bmi 30-50 kg/m2); and announced publication of the landmark merit study for the endoscopic sleeve gastroplasty procedure in the lancet, demonstrating significant, durable weight loss results and an outstanding patient safety profile.
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