Invuity, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenue of $10,501,000 against $9,768,000 a year ago, driven primarily by consistently increasing market acceptance of PhotonBlade. Loss from operations was $8,215,000 against $9,861,000 a year ago. Net loss and comprehensive loss was $8,950,000 against $10,387,000 a year ago. Basic and diluted net loss per common share was $0.37 against $0.61 a year ago.

For the six months, the company reported revenue of $20,006,000 against $18,791,000 a year ago. Loss from operations was $18,627,000 against $20,219,000 a year ago. Net loss and comprehensive loss was $20,147,000 against $23,604,000 a year ago. Basic and diluted net loss per common share was $0.95 against $1.39 a year ago.

For year 2018, the company continues to expect revenue to exceed $46 million and disposable revenues to grow in excess of 25%. The company continues to expect gross margins to be in the mid-60s for the full year as the continued success of PhotonBlade is creating headwinds in the short term. On a normalized basis, the company expects to burn approximately $10 million cash for the second half of 2018.