EXCLUSIVE: ProSomnus Reports Much Smaller Than Expected Q2 Loss, Revenues Inline With Consensus
Portfolio Pulse from Vandana Singh
ProSomnus Inc (NASDAQ:OSA) reported Q2 revenues of $6.9 million, up 43% Y/Y and a sequential revenue increase of 19%, slightly beating the consensus of $6.4 million. The company reported an EPS loss of $(0.01), down from $(0.43) a year ago, beating the consensus of $(0.32). The company is completing the development of the next-generation precision OAT featuring embedded remote patient monitoring capabilities, with the first commercial use expected in Q4 of 2023.
August 04, 2023 | 1:01 pm
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ProSomnus reported better than expected Q2 results with revenues beating consensus and a smaller than expected loss. The company is also developing a next-generation product expected to be commercially available in Q4 2023.
ProSomnus reported better than expected Q2 results, which is likely to have a positive impact on the stock price in the short term. The company's ongoing development of a next-generation product also indicates potential for future growth, which could further boost investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100