ReShape Lifesciences, Inc. - RSLS STOCK NEWS

ReShape Lifesciences reported Q1 2022 revenues of $2.4 million, a 24.2% decline from Q1 2021, primarily due to the COVID-19 Omicron variant impacting bariatric procedures. However, March 2022 revenues surpassed January and February combined, indicating recovery. The company attributes this growth to a successful direct-to-consumer (DTC) marketing campaign. Gross profit decreased to $1.2 million, with a margin of 50%. Sales and marketing expenses soared by 276.6% to $4.7 million. Non-GAAP adjusted EBITDA loss widened to $7.1 million, reflecting increased marketing investment.

ReShape Lifesciences (Nasdaq: RSLS) announced it will release its first-quarter financial results for 2022 on May 23, 2022, before the market opens. The company will also provide a corporate update during a webcast scheduled for 8:30 am ET on the same day. ReShape Lifesciences focuses on weight loss and metabolic health solutions, offering various FDA-approved and investigational products. Investors can access the results and the accompanying webcast link on the company’s website.

ReShape Lifesciences (Nasdaq: RSLS) announced that Bart Bandy, CEO, and Tom Stankovich, CFO, will present at the Q2 Investor Summit on May 4, 2022, at 9:30 a.m. ET, and to the Philadelphia Securities Association on May 2, 2022. The presentations will highlight the next-gen Lap-Band program, celebrating 21 years as the only FDA-approved surgical weight loss device. The company reports a more than 20% revenue increase in 2021 thanks to a successful direct-to-consumer marketing campaign. ReShape will also provide one-on-one meetings at the summit.

ReShape Lifesciences (Nasdaq: RSLS) reported a 20.4% revenue increase to $13.6 million for 2021, driven by marketing efforts and improved consumer demand. Key achievements included debt elimination, raising $46 million, and enhancing direct-to-consumer campaigns, resulting in a 331% rise in website traffic. Gross profit rose to $8.3 million, reflecting a 61.4% margin. However, total operating expenses increased significantly to $64.8 million due to stock compensation and merger costs. The CEO expressed optimism for continued revenue growth as healthcare restrictions ease.

ReShape Lifesciences (RSLS) reports substantial growth in patient engagement following the launch of its direct-to-consumer marketing campaign in October 2021. The company noted a remarkable increase of 250,000 visits to its website and over 900% more inquiries regarding the Lap-Band procedure. Doctor referrals have surged nearly 400%, indicating strong market interest. As insurers are reducing mandatory wait times and expanding coverage for bariatric procedures across multiple states, ReShape anticipates a significant rise in revenue. The campaign is also featured in various major publications and cable networks.

ReShape Lifesciences (Nasdaq: RSLS) reported an impressive 20% revenue increase for the year ended December 31, 2021, rising from $11.3 million to $13.6 million. The company improved its financial position by eliminating all debt, including a $3 million liability to Apollo Endosurgery related to the purchase of the Lap-Band. As of year-end, ReShape held $22.8 million in cash and cash equivalents. A webcast to discuss financial results and updates will occur on March 28, 2022.

ReShape Lifesciences (Nasdaq: RSLS) announces its participation in two upcoming investor conferences in March. The first, the Oppenheimer 32nd Annual Virtual Healthcare Conference, runs from March 15-17, with CEO Bart Bandy presenting on March 16 at 2:00 PM ET. The Maxim 2nd Annual Virtual Growth Conference follows on March 28-29, featuring a fireside chat with Mr. Bandy on March 28 at 4:30 PM ET. Live broadcasts and replays will be accessible on the company's website. Management will also hold one-on-one meetings during these events.

ReShape Lifesciences (Nasdaq: RSLS) is set to present its next-generation Lap-Band® Program and reshape™ virtual health coaching platform at the ASMBS Leadership Academy and re-UNITED Meeting from January 19-22, 2022, in Las Vegas. The company will showcase its obesity management solutions to a large audience and discuss its comprehensive marketing campaign expected to reach over 70% of U.S. adults in early 2022. Additionally, Shelly Russell has been elected to the ASMBS Corporate Council Steering Committee for a three-year term, marking a significant leadership milestone for the company.