Invuity, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended Sept. 30, 2017; Provides Revenue Guidance for the Year 2017
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% .