ReShape Lifesciences (RSLS) 16 Aug 212021 Q2 Earnings call transcript

Good afternoon and thank you for joining the Second Quarter 2021 ReShape Life Sciences earnings webinar. I am pleased to be joined by Bart Bandy, Chief Executive Officer of ReShape Lifesciences, who will provide an overview of the company's recent activities and business highlights for the second quarter of 2021. Tom Stankovich, Chief Financial Officer of ReShape, will then review the financial results for the recent quarter and then turn the call back over to Bart to finish.

As a reminder, this conference call as well as ReShape Lifesciences' SEC filings and website, including the Investor Information section of the website, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those discussed due to known and unknown risks, uncertainties and other factors. factors and within described Commission, in the factors as risks the fully including our additional report filed identified filings annual shortly. Form company's Securities risk will quarterly and report uncertainties XX-K XX-Q more are in those on on These Form our that and be in and Exchange

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afternoon, Daniel. joining Thanks, thank us today. everyone, Good and you for

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everyone. Bart, good Thanks, afternoon, and

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X XX, in grew $XXX,XXX a months of revenues. We reported million margin U.S. to the XX%. and X with we representing XXXX, gross in expenses as XXX% gross the $X.X as months margin in from sequentially increased increased lower expenses. Total of as second of operating the representing compared the gross to $X second to XX, compared margin for million June quarter million June Additionally, our to XX, of profit of by XXXX. months The as Sales of expenses $X.X revenues of the quarter period quarter marketing June for XX% OUS ended and XXXX, the million XX% $X.X second higher and ended revenue quarter for attributed department first to $XXX,XXX were million XXXX, for XXXX, a overhead the increased XXXX both increases $X.X achieved gross sales is X XXXX. volume compared ended

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Turning to the balance sheet.

capital debt credit ROI increasing previous was our XX, repayment This million. opportunities. of runway, continue assets. and major we agreement $XX.X XX, and to interest liens cash equivalents our under repay portion growth us while March enabled and and XXXX. A cash used To savings seeking any raise also dated measures against of accrued our $XX.X $XXX,XXX June remove totaled the million adhere leverage of cost our implement to of out As XXXX, company's secured all revenue and to

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