EndoChoice reported its financial results for the second quarter of 2016.
Here are eight things to know:
1. The company's total revenue for the second quarter of 2016 was $19.3 million, up from $18.6 million in the second quarter 2015.
2. EndoChoice's net loss for the second quarter totaled $24.7 million. The company's net loss for the second quarter 2015 was $19.5 million.
3. Placements of the company's Fuse system was lower than expected, however, growth in the pathology business as well as single use products offset these losses.
4. Total revenue for the second quarter of 2016 can be divided into the following categories:
• Imaging: $5.5 million
• Single-Use Products: $9.4 million
• Pathology: $4.3 million
5. Gross profit for the second quarter was $6.4 million, or 33.4 percent of revenue.
6. The company shipped 25 Fuse systems in the second quarter, compared to 27 Fuse systems shipped in the second quarter 2015.
7. Additionally, the company launched the third generation of its Fuse system in May, ahead of schedule.
8. On a non-GAAP basis, the company reported an adjusted EBITDA loss of $10.5 million for the second quarter of 2016, whereas it reported an adjusted EBITDA loss of $9.6 million for the second quarter of 2015.