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Allurion Technologies (NYSE: ALUR) announced three presentations at the European Congress on Obesity (ECO) held from May 12-15, 2024, in Venice, Italy. The presentations highlighted data from a study involving 712 patients across six obesity centers, demonstrating an average total body weight loss (TBWL) of 14.1% in four months, with 70% of the weight loss from fat mass and only 30% from lean body mass. The Allurion Program, which includes the Allurion Balloon and Virtual Care Suite, aims to preserve lean body mass during weight loss. Additionally, previous studies showed that more intensive programs led to 100% fat mass-derived weight loss without muscle mass loss. The presentations also covered behavior change coaching and the positive impact of GLP-1s on the program.
Allurion Technologies (NYSE: ALUR) announced its Q1 2024 financial results with a revenue of $9.4 million, a 14% increase from Q4 2023 but a decrease from $14.1 million in Q1 2023. Procedural volume rose 12% year-over-year and 22% sequentially. Cash burn decreased to $8.4 million from $22 million in Q4 2023. Notable developments include treating the first NHS patient with the Allurion Balloon, launching the VCS digital platform in the U.S., and securing $48 million in financing. Operating expenses were reduced significantly, but a year-over-year revenue decline and lower gross profit margins were noted.
Allurion Technologies, Inc. (NYSE: ALUR) announced three scientific presentations at IFSO-European Chapter 2024, highlighting 80% sustained weight loss at three years with the Allurion Program and successful outcomes of an AI-powered conversational agent for obesity treatment. The data showcased positive long-term weight maintenance results and patients' healthier eating habits post-program. Additionally, the innovative AI-powered weight loss coach, Coach Iris, received positive feedback for its personalized, trustworthy, and empathetic approach.
Allurion Technologies, Inc. announced preliminary first quarter 2024 results, with quarter-over-quarter revenue growth, procedural volume growth, and a significant decrease in cash burn. The company expects revenue between $9.2 million to $9.3 million, 12%-13% higher than the fourth quarter of 2023, procedural volume growth of 22%, and reduced cash burn of $8 million to $9 million. Allurion remains optimistic about future growth and business opportunities.
