Apollo Endosurgery posted a net loss of $8.8 million for the second quarter, despite growing worldwide sales of Overstitch, its endoscopic suturing system, by 40 percent.
What you should know:
1. In the U.S., the company increased Overstitch sales by 42 percent year over year to $3.8 million.
2. The company also grew sales of its consolidated endo-bariatric products 13 percent over the same time period.
3. The company posted $14.3 million in revenues for the quarter, down from $15.8 million in the second quarter of 2018. The company said its second-quarter revenues were affected because of product divestitures.
4. The company's U.S. revenues decreased 17.8 percent after it stopped selling surgical products in the country.
5. Apollo noted that its total operating expenses decreased $2.3 million year over year to $14.4 million.