AYON Body Contouring System Launch
The successful launch of the AYON Body Contouring System has driven significant growth, with U.S. sales increasing over 30% for the quarter. The product launch has been met with strong market feedback and initial sales have exceeded expectations.
Revenue Growth
Total revenue for the third quarter increased by 12% to $12.9 million, compared to $11.5 million in the prior year period. The Surgical Aesthetics segment saw a revenue increase of 19%, reaching $11.1 million.
Improved Financial Health
Operating expenses decreased to $9.1 million from $10.6 million, contributing to a 77% decrease in loss from operations. The company also achieved a 96% decrease in adjusted EBITDA loss.
Strategic Rebranding
The company's Advanced Energy segment has been rebranded as Surgical Aesthetics to better align with the company's mission and market focus.