EndoChoice, the company behind the Fuse Endoscopy System, has reported its financial results for the second quarter of 2015.
Here are five things to know about the company's financial performance for the quarter.
1. EndoChoice reported $18.6 million in revenue, up 27 percent year-over-year. The company shipped 27 Fuse systems during the quarter. EndoChoice has installed 87 systems since Fuse launched.
2. "Looking forward, we expect to continue ramping Fuse sales, contributing to full year 2015 revenues of between $73 million and $76 million," said Mark Gilreath, founder and CEO of EndoChoice. The company expects operating expenses for the full year to be in the range of $75 million to $77 million.
3. The company's gross profit for the second quarter of this year was $6.5 million, compared to $5.3 million for the second quarter of 2014.
4. Net loss for the quarter was $19.5 million, or $1.01 per share. Comparatively, the net loss for the second quarter of last year was $13.7 million, or $1.13 per share.
5. EndoChoice had cash and cash equivalents of $118.5 million as of June 30.
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