Endologix (ELGX) Poster Smaller Q3 Loss

Endologix (NASDAQ: ELGX) reported Q3 EPS of ($0.40), $0.32 better than the analyst estimate of ($0.72). Revenue for the quarter came in at $35.8 million versus the consensus estimate of $35.38 million.

“Our persistent focus on execution has resulted in improved performance across the business including AFX2 in the U.S., as evidenced by our third-quarter results,” commented John Onopchenko, Chief Executive Officer of Endologix, Inc. “We posted solid financial results, with the Company returning to annualized growth while effectively managing our expenses and meaningfully reducing our quarterly cash burn to less than $5 million. Our U.S. AFX volumes were up sequentially in the third quarter, and our global AFX volumes grew double digits year over year. We attribute these AFX results in the U.S. in large part to the value physicians place on the strength of our clinical evidence, which encompasses over 60,000 patients as illustrated in our recently released AFX Annual Clinical Update (2016-2019). Our operational progress to-date has steadily improved, and we are positioned to build off these results in the fourth quarter and into 2020.”

For earnings history and earnings-related data on Endologix (ELGX) click here.

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