Invuity, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended Sept. 30, 2017. For the quarter, the company reported revenue was $9.6 million, up 13% from revenue of $8.5 million in the third quarter of 2016 driven by an increase in active accounts. Management estimates that approximately $400,000 in revenue was lost due to the impact of hurricanes. Gross margin for the third quarter was 69.9%. The net loss was $8.9 million, or $0.52 loss per basic and diluted share, compared to a net loss of $8.8 million, or $0.56 loss per basic and diluted share, for the third quarter of 2016. Loss from operations was $8,404,000 against $8,346,000 a year ago.

For the nine months, the company reported revenue of $28,391,000 against $23,106,000 a year ago. Loss from operations was $28,623,000 against $29,607,000 a year ago. Net loss and comprehensive loss was $32,511,000 or $1.91 per basic and diluted share against $31,060,000 or $2.19 per basic and diluted share a year ago. The company estimates that approximately $400,000 in revenue was lost due to the impact of hurricanes.

The company is narrowing its revenue guidance for 2017 to $40 million to $41 million. The company expects gross margins in the fourth quarter will be in the mid-60s. As is customary,it expects the margin profile of these new products to improve over time. The company anticipates a typically seasonally strong fourth quarter combined with the robust sales of PhotonBlade and this represents annual growth of approximately 23% to 26% .