ReShape Q3 revenue down 21% to $2.2M; announces $8M cost cuts for 2024

Vyome Holdings, Inc

2023-Q3 EPS reported -$3.45 revenue$6,696,000

Revenue $2.2M in Q3 2023, down from $2.8M in Q3 2022; nine-month revenue $6.7M, down 17%.
Gross profit margin fell to 59.8% from 75.1% in Q3; non-GAAP adjusted EBITDA loss improved to $2.9M from $4.2M.
Cash $1.5M at Sept 30; raised $2.8M net in Oct public offering; no debt.
Targeting ~$8M cost reductions in 2024 including RIF, aiming >40% cut in operating expenses.
Exclusive license deal with Biorad for Obalon in India subcontinent; FDA decision on Lap-Band 2.0 Flex expected by year-end.

item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Vyome Holdings, Inc reported financial results for three and nine months ended September 30, 2023.

Period: three and nine months ended September 30, 2023
Result: reported results

Exact text from the filing

On November 8, 2023, ReShape Lifesciences Inc. (the “Company”) issued a press release announcing its financial results for the three and nine months ended September 30, 2023.

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Source: SEC EDGAR

accession 0001558370-23-018328

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