ProSomnus, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 08:10 am
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ProSomnus, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 6.93 million compared to USD 4.86 million a year ago. Net income was USD 0.90493 million compared to net loss of USD 2.82 million a year ago. Basic earnings per share from continuing operations was USD 0.06 compared to basic loss per share from continuing operations of USD 0.71 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.71 a year ago.
For the six months, sales was USD 12.74 million compared to USD 8.6 million a year ago. Net loss was USD 5.99 million compared to USD 5.8 million a year ago. Basic loss per share from continuing operations was USD 0.43 compared to USD 1.47 a year ago. Diluted loss per share from continuing operations was USD 0.43 compared to USD 1.47 a year ago.
ProSomnus, Inc. is a medical technology company. The Company is focused on the development, manufacturing and marketing of precision intraoral medical devices, a novel non-invasive option for treating and managing patients with obstructive sleep apnea (OSA). Its intraoral medical devices are engineered to precisely track the treatment plan and anatomy for each patient. The Company's devices have demonstrated efficacy, safety, adherence, and overall outcomes in a growing body of clinical investigations. Its precision intraoral devices are FDA-cleared, patented, and covered by commercial medical insurance, Medicare, TRICARE and many Government-sponsored healthcare plans around the world, representing over 200 million covered lives. The Companyâs products include ProSomnus EVO Sleep and Snore Device, ProSomnus EVO SELECT Sleep and Snore Device, ProSomnus EVO [PH] Sleep and Snore Device, ProSomnus [CA] LP Sleep and Snore Device and ProSomnus [MOG] Morning Occlusal Guide.