Eargo, Inc. - EAR STOCK NEWS

Eargo, a medical device company, reported second quarter 2021 net revenues of $22.9 million, a 43.7% increase year-over-year. The company raised its full-year net revenue guidance to between $93 million and $96 million. Key highlights include a 24.1% return accrual rate improvement and a 71.8% GAAP gross margin, up 4.5 percentage points. However, total operating expenses reached $35.5 million, leading to a net loss of ($19.3) million, or ($0.50) per share. Eargo 5 was launched in late Q2 2021, with promising initial traction.

Eargo, Inc. (Nasdaq: EAR) will announce its Q2 2021 financial results after market close on August 12, 2021. A conference call and webcast will follow at 1:30 PM PT to discuss the results and recent highlights. Interested participants can join by calling (833) 649-1234 for domestic or (914) 987-7293 for international connections, using conference ID: 6691066. Eargo specializes in hearing aids, offering a consumer-first approach that addresses challenges in traditional hearing aid adoption, providing affordable, virtually invisible solutions.

Eargo has launched the Eargo 5, its most compact and advanced hearing aid, enhanced by a new lithium-ion battery developed in partnership with VARTA AG. This battery offers the highest energy density, enabling up to 16 hours of continuous use on a 4-hour charge, with a life expectancy of five years. The Eargo 5 features Sound Match technology for at-home customization, providing affordable hearing care to roughly 43 million Americans with hearing loss. Priced at $2,950, the device offers a 45-day money-back guarantee and a two-year warranty.

Eargo, Inc. has launched the Eargo 5, its most advanced customizable hearing aid, on July 13, 2021. This FDA Class II exempt device utilizes Sound Match™ technology for personalized tuning without clinic visits. Priced at $2,950, it aims to provide affordable hearing solutions for the 43 million Americans with hearing loss. Eargo 5 features a rechargeable battery, improved sound quality, and a user-friendly mobile app for adjustments. The device is in-field upgradeable and supports a direct-to-consumer model for enhanced accessibility.

Eargo, Inc. (Nasdaq: EAR) supports the Biden Administration's Executive Order aimed at enhancing competition in the hearing aid market. This directive may enable over-the-counter (OTC) sales of hearing aids, addressing the current high costs and accessibility issues that limit usage to only 14% of the 48 million Americans with hearing loss. CEO Christian Gormsen highlighted that Eargo offers a cost-effective, consumer-friendly alternative to traditional hearing aids, with the launch of the advanced Eargo 5 model, featuring customizable technology.

Eargo, Inc. (Nasdaq: EAR) has appointed Katie Bayne to its Board of Directors, effective June 9, 2021, filling the vacancy left by Juliet Tammenoms Bakker. With over 30 years of experience in consumer marketing, including leadership roles at Coca-Cola, Ms. Bayne aims to enhance Eargo's brand awareness and product adoption in the hearing health sector. Eargo’s innovative hearing aids provide a cost-effective solution to hearing loss, addressing stigma and accessibility issues, with the latest product launched in January 2020.

Eargo, Inc. (Nasdaq: EAR), a leader in hearing solutions, announced its participation in two upcoming virtual investor conferences. CEO Christian Gormsen will present at the UBS 2021 Global Healthcare Conference on May 24, 2021, at 11:00 a.m. ET, and at the 41st Annual William Blair Growth Stock Conference on June 2, 2021, at 5:00 p.m. ET. Live webcasts of these presentations will be available on Eargo's website and can be replayed for 90 days post-event. The company aims to enhance the quality of life for those with hearing loss through its innovative products.

Eargo, Inc. (Nasdaq: EAR) reported a strong start to 2021, with net revenues of $22.0 million, a remarkable 74% year-over-year increase. The company shipped 11,704 systems, up 66.5%. Gross margin improved to 71.4%, and sales and marketing expenses decreased as a percentage of revenues. Although the company reported a net loss of ($13.6) million, it also raised full-year revenue guidance to between $89 million and $93 million. Eargo emphasizes its commitment to enhancing telecare in hearing solutions amidst growing demand.

Eargo, a medical device company focused on enhancing the quality of life for individuals with hearing loss, will participate in the BofA Securities 2021 Virtual Health Care Conference. CEO Christian Gormsen is scheduled to present on Thursday, May 13, 2021, at 11:45 a.m. Eastern Time. The presentation will be available via live web cast and accessible for 90 days post-event. Eargo's innovative hearing aids, including the Eargo Neo HiFi, aim to address traditional barriers related to hearing aid adoption, offering a consumer-first solution at competitive prices.