Sientra reports Q2 EPS (85c), consensus (86c)

Reports Q2 revenue $23.1M, consensus $24.75M. Ron Menezes, Sientra’s President and Chief Executive Officer, said, “Sientra is proud to report significant progress toward our goal of sustainable and profitable growth, exemplified by a record low free cash flow usage for the Company. With this near break-even result, we are confident of reaching our goal of positive free cash flow performance by year-end.” “We experienced our twelfth consecutive quarter of year-over-year revenue growth, driven by continued strong performance in reconstruction. While we also outperformed the overall augmentation segment, we continued to see softness in this channel as patient spending on elective cash pay aesthetics procedures declined.” “We recently introduced Viality, the only system designed for enhanced viability fat transfer, and SimpliDerm , an innovative acellular dermal matrix for soft tissue repair. Those products will leverage our plastic surgery platform, accelerate Sientra’s long-term growth and further our leading position in reconstruction. We are encouraged by the early positive responses we have received from those who have already adopted these products. As we continue to work through the hospital contracting process, we expect to see an increase in sales later this year positioning us well for 2024 and beyond.” Second