For the quarter ended March 2018, the company reported a loss of $1.12 per share on revenue of $35.6 million. The consensus estimate was a loss of $1.56 per share on revenue of $34.2 million.
Shares in Endologix climbed 3.9% to $6.56.
The company said it expects second quarter revenue of approximately $36 million and continues to expect to close out 2019 with at least $140 million in revenue.
The current consensus estimate is revenue of $35.1 million for the quarter ending June 30 and revenue of $141.3 million for the year ending December 31, 2019.
“Our first quarter financial and operational performance provides us with a solid foundation to accomplish our goals for the rest of 2019,” said Endologix CEO John Onopchenko. “We addressed the vast majority of our near-term debt maturities while increasing our liquidity position, allowing us to move forward with a singular focus on maintaining consistent delivery against our commitments.”
As part of a transformation, Endologix has completed its planned restructuring in the US, which saw a reduction in sales force, and realignment of resources with an emphasis on high-volume accounts.
The company's focus is on endovascular stent grafts for the treatment of abdominal aortic aneurysms, or AAA, which lead to a weakening of the wall of the aorta, the largest artery in the body, resulting in a balloon-like enlargement.
Once AAA develops, it continues to enlarge and, if left untreated, becomes increasingly susceptible to rupture. The overall patient mortality rate for a ruptured AAA is approximately 80%, making it a leading cause of death in the United States.
Endologix develops and manufactures minimally invasive treatments for aortic disorders.
Contact Uttara Choudhury at [email protected]