like close. Mike. ReShape August, earnings your growth to with strategy call. ensuring we path while profitability. pivoted of appreciate a you our joining us all I'd of joined and this year-end afternoon We you, Thank patience completed our business we XXXX Since for I for year-end our thank have last the intent
growth strategies for With that pillars X said, I remind or our would like of to growth. you
metrics-driven to in profitability. The first our predictable have is ensure we a operate with mindset to business disciplined
obesity our best-in-class and proven launch and continue and to new services and augment is disease. products to second The of metabolic products to that treat develop portfolio therapies
product efficacy ensuring the and continuum lifelong drive search which and continue related obesity portfolio, backed evidence often it comorbidities, of showing pillar and is addressing last for is to needed battle. care fight when compelling by to to is by effectiveness The that gain a our
achieving our progress goals. continued that excited to we say make have to in significant I'm
have regulatory growth and we rightsized investments We quality, in expenses our including meaningfully initiatives, and in so R&D. finance, invest and marketing operating reduced can
we are fields. of and internationally our closely with obesity metabolic disease formed Advisory addition, experts In working surgeons Global enthusiastic in Board and Scientific about the comprised recognized recently
boards -- and I proud durable I leveraging membership their past, unrivaled and to our on expand with fighting obesity. am forward Reshape's the and gathered commitment they be weight expect in extremely SAB for and on of through to our advisory have expertise integral helping credentials the vast look access experience an We effective worked initiatives be their treatments that loss. safe growth to patients feedback and us in will will for with
before and us. I before milestones, into mention the I'd market delve upcoming highlights enormous recent opportunity to like Now
costs. estimates is and medical economic years by than the X XX% currently to a now. increase global is of disease population been to more increasing with significant associated Obesity World and Organization billion considered from XXXX, repercussions X.X obese. that XX% This Health projected overweight rates or just that number alarming has The approximately are adults
approximately XXXX. X.X% and worldwide billion obesity loss projected by is or is global product surgical The estimated to our market projected annual The the weight is device future of programs value global products, be of X.X by the global to and billion which rise billion address trillion to is could in approximately We and delivery XXXX. obesity economic to hit in GDP. billion of alone market global X.XX X worldwide market, impact believe U.S. an care XXX health management the virtual by candidates expected XXXX, billion XX X.X
linked disease, or of the XX% heart increased with and stroke serious leading causes death, risk the some American to of certain cancers. overweight, is adults in obese of types according of associated including of an are resulting health to and Moreover, approximately diabetes FDA, issues
within treatment of the exciting obesity. an in been the months, X there's shift last Now
a obesity sensitive treatment how past, children. is awareness for has not critical had the greater in acceptance topic obesity While adults is been and care and and of been now normalized. a There
ASMBS, of Last Surgery Society updated Metabolic October, earlier diseases. for treating intervention Metabolic and care outdated and Disorders bariatric if the Bariatric American and Surgery, medical International the These restricted and guidelines revised in the for advocated for guidelines or obesity or so, and Obesity of surgery. overly related Federation the and
year, adoption and this pharma recent for treat over the number new obese loss issued of aggressive overweight January are And have agonist efforts Pediatrics in seeking of individuals weight marketing lastly, with of XX and obesity. more the who guidelines loss. Academy medical-managed and of U.S. adolescence the GLP-X to big significantly weight Similarly, million the American children related increased
given the that for the the substantial there nature and adjustable a anatomy-altering and irreversible known therapy is ever more of reversible Now behavioral bariatric side of need inaccessibility, and approaches, less surgical durability Lap-Band. limitations believe we modifications, the and than effects pharmaceutical invasive other of
Our proven safe, loss. to and long-term providing solution weight effective product has be durable
I'll for that as view to of growth. a backdrop, a our turn detailed Now back with strategic strategies
taking paramount growth deliver approach in to for a business. order focused to is first strategy The for shareholder includes our growth ultimately, profitability. optimizing ReShape operations the and Our value pillar and and measured
business we model sustainable scalable and to that For organization. our have become dramatically end, changed a
a physician profitability, products obesity proven treat continuing on disease. by expect manage that we leveraging path portfolio which and achieve now advocates are of and metabolic to with and We partner our to to our
execution we hand on fact, next XX just in the million X.X XX.X we of In profitable becoming growth believe the to within cash upsized the offering, continued offering direct and pillars, completed completed have our of public our our goal complete our sufficient months. with registered of combination February, million
we primary patient inquiries, in are We direct-to-consumer directly this our marketing the know by and of supported significant confident projection because surgeries in Lap-Band are this driver the initiatives. is that shift
developing process website experience, key targeting the points to an we third the decision strategically of the experts on are lead in includes loss patient-centric weight primarily customer expect we touch support patient's surgery With improved quarter. This focused in conversion, which surgery. in the launch experience, for
marketing The channels focus process with lead system they of a transferring patient we're will midyear they inquiries conversion, automation text, increased targeted also for and resources the this implementing need chance on address As call web to inquiry when automation surgeon. the need the a every that them. improve launch of possible prospective suit has part it, ensure automated e-mail, patient via that highest to does to with retargeting our
expected weight of Finally, and the from Lap-Band based to surgery capture feedback advocates the bariatric research. in convert awareness focused Lap-Band for better new the leads Lap-Band we're ongoing lead result nurturing, loss request to awareness creating build content on content to and a earlier is brand in surgery joy patient's surgeons. Lap-Band more brand This market in on specific and that conversion perception
staying spend, order and In ongoing we competencies core are on agency marketing while quick nimble optimization our to resources, building in-house, while facilitate these disciplined launch expenses. of a ensuring cutting significantly
in moving as of considerably. our surgery align taking we're change, automation to technology, All in-house efforts. reporting as marketing conversion. increasing starters, well the providing center our nurture headcount, outreach This and to control and while with our increase our marketing lead even cuts leads, spend lead call near For new guaranteed implementation a capabilities and with
driving our the intent while simply, competencies website, web the Lap-Band expenses with increasing decreasing we while reduce leads significantly optimization. we're for drive improving support on our making responsive while the This ongoing efforts Lap-Band establish more develop better website, agency tests efforts new we of and will outsourced Additionally, conversions external to us updates, physician as Put and engagement we to are needs patient-focused the marketing more All requests expense and on these and ultimately build more address the ongoing patient able internal brand site to internally. surgeries. market.
to our products therapies, continue also on We development commercialization the of and second constitute growth focus which and new pillar.
calibration improvements, to a completed fully which the limited additional line expansion, made laparoscopic I'm disposable of that and sleeve pleased gastric spectrum. feedback, the our report redesigned range surgeon we bypass. broad we Last release procedures, we the calibration bariatric ReShape across have as and tube in procedures used launched bariatric Based of on supports year, gastrectomy such have tube
customer important care is in to a the great it's we self-insured used calibration are We opportunity incremental provides large expect therefore, new revenues. to employees. increase year. looking and the engage this ReShape than Lap-Band tube and reiterate, product And this revenue ReShape other Further, procedures provide to add several to to to future employers their
employee has for been reception health and that help important received costs. health overall impact employers' reduce care program The can this well
As ReShapeCare is persons, for a healthy qualify supports management lifestyle just changes who program that novel individuals Lap-Band HIPAA-compliant all a for surgery. not weight reminder,
to support improve health both Based are expanding loss. on and employees the this partners, leads we feedback, our achieve potential and Lap-Band our program patient to positive their weight
the expect redesigned supplement. the FDA to Additionally, next-generation our PMA quarter, second a in to the X.X we physician-led Lap-Band, for submit Lap-Band
Lap-Band X.X post-operatively post-operative The in is opening Lap-Band to order optimize reduce Lap-Band, to X.X decrease to adjustable increase the comfort the the individuals physician therapy adjustments. and of Like designed band the is required the and effectiveness. current
minimizing X.X Lap-Band pieces from food, enhanced adjustments. designed swallowing to patient post-operative discomfort an band the as large alleviate technology thus serves that is to Unique of a well reservoir relief, in-office band
believe the surgeons We we robust. existing and will by and by expect FDA be year-end uptake new from approved, feedback if the
and about will the this allow to noted used last believe spoken new I surgeons those historically. As us X.X reengage many of I've with engage quarter, have who Lap-Band surgeons new Lap-Band design
vagus dependence diabetes to a compelling. NIH As vagus Diabetes block glucose of glucose combined evidence on block in SBIR to Neuromodulation with pancreas device grant a the The device, be or funded in vagus blood This liver new reduce neuromodulation a patients' technology to nerve Bloc-Stim selectively non-dilutive XX/X the preclinical is excitingly, manage dual manner. DBSN to generated our have of modulates with stimulation continued control thus individualized stimulation. which far, nerve vagus we may and medications personalized treatment uses and development advance able platform which and
in data And the October, reviewed NeuroScience, peer Conference. the during published Neuroscience was Frontiers was and an on In abstract journal ObesityWeek in in in Annual for presented Technology. device Neural Society the
have think may address non-pharmacological unmet technology diabetes. efficacy ability improved treatment, for the a X Type clear In providing to patient-specific this and need fact, for in the we durability
enhance use, researchers continue and our device further industry-leading all We with corporate seeking If DBSN grant while device differentiated support. offerings. collaborate to NIH leading commercial medical partners, strategic additional will approved for the will
an growth advocacy clinical by to third our need to evidence. provide is words, to are therapies gain ReShape other by we pillar continuum In Finally, advocacy. and surgeon ensuring gain products care supported surgeon evidence-based strong for
and I our Board our critical expand is our This Scientific and as newly base revenue knowledge an provides Advisory us insights on execute as unparalleled mentioned be continue well earlier pipeline. we as formed access invaluable. approach and product our relationships to As extensive will in call, to that disciplined drive to
I As the regardless for of severity intended recommend of absence the XX surgery adults metabolic last mentioned metabolic XX.X the XX-year-old were updates and in for and obesity-related conditions be guidelines a issued replace that issued by long XX now above, individuals to surgery. These NIH BMI in and of the it'd guidelines year, IFSO bariatric metabolic ASMBS bariatric of BMI evidence-based considered we're the for presence, of October with guidelines note The and XXXX. of in or overdue, with more and to disease.
methods. obesity-related considered that BMI even substantial have diseases state weight who greater or an is weight durable non-surgical disease, loss be and loss should in achieved further guidelines whose XX option using people without for than not or surgery The improvement metabolic
Now the this device a least with It XX U.S. approved, one that is bears only FDA with since device any loss comorbidity market. obesity-related a weight system on at over in adults is approved the of repeating with important BMI BMI XX. FDA over the Lap-Band Lap-Band is patient laparoscopic for the
own and the nutrition October, the anatomy see sparing Lap-Band to which and validated to success that loss related and concluded the Lap-Band that is a behavioral ASMBS loss and The procedure. the of best is we management, consensus weight proper effective to health statement safe weight Also statement critical ReShape's practice were a care solution recommendations. evidence-based use in aftercare pleased on issued supports after
program. we In conjunction and will Scientific continue partner to surgeons train Advisory such with the Board, ASMBS Lap-Band to benefits on organizations as comprehensive of our identify with our
together, that provide can for patients long-term results. to the durable safe, loss So required care weight we achieve
assist part mention had mission have Access want patients to I as also the continue expertise to Care aside, appropriate that we bringing to metabolic safe make order and an a my care industry. obtain to advocating honor for ASMBS medical Committee, to I care obesity that that committee, effective look impact access. and included and As recently working disease health being of within the whose with with ensures in policy is a bear to the forward that positive to
strong the ReShape's DBSN and is many our patents property ReShape portfolio all assets of of surrounding Lap-Band Balloon including our System. One ReShape and offshore Obalon products, of XXX device
came devices, who technical this side is my of someone topic heart. the close As from medical to
notice the build product System, recent and patent office for commercialization patent ReShape to evidenced action our portfolio by Obalon and a allowance of covering the As around note efforts from an the continue we will when appropriate. defensive Balloon take offensive additional U.S.
To a complaint in our Court damages of the seeks on among not other patent, against filed the March U.S. we Allurion, that royalty. a end, than for XXX complaint relief, infringement X, alleged an District and less XXXX, reasonable Inc. of Allurion infringement Delaware. amount Technologies, for District patent The
unable time. outcome to this matters are in predict and early we this This at stages,
to aggressively enforce protect intend and intellectual to However, our we rights. continue property
to the are over our performance, XX-K. want before in turn Tom some captured that Now highlight financial to to additional recap metrics our I not call I
XX.X% appointment Specifically, expenses, in our to August, half in a comparing detail our my pillar resulted decrease the shortly, reduction our versus and has departmental resulted significant has XXXX XX.X% expenses, including business reduction second Tom a spend. R&D since our sales our dramatic in last spend shift our all as XXXX expenses expenses, in G&A executing in reduction our a And in marketing will and our model. a half first XX% in first strategy commitment
stage operational to overall a necessary shift expenses reduction winning. the ReShape's adjustments. was In any before onetime significant in XX.X% sets dramatic amounts path This for this to and aggregate,
to like I'd Now Tom turn over Stankovich. to
location a Tom is Now spotty calling from remote with some Internet.
disrupted course over there? during Tom, update, Tom I'll if his take the him. are is of So for you
