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ProSomnus, Inc. Common Stock (NASDAQ:OSA) Q4 2023 Earnings Call Transcript

ProSomnus, Inc. Common Stock (NASDAQ:OSA) Q4 2023 Earnings Call Transcript March 27, 2024

ProSomnus, Inc. Common Stock misses on earnings expectations. Reported EPS is $-0.42 EPS, expectations were $-0.31. OSA isn't one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).

Operator: Good day, and thank you for standing by. Welcome to the ProSomnus Q4 2023 Earnings Investors Update. At this time, all participants are in listen-only mode. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Mike Cavanaugh ProSomnus [ph] Investor Relations. Please go ahead.

Michael Cavanaugh: Thank you, and good afternoon. I'd like to thank everyone for joining us today. Earlier today, ProSomnus, Inc. issued a press release announcing our financial results for the quarter ended December 31, 2023 and describing the company's recent business highlights. You can access a copy of the announcement on the company's website at www.investors.prosomnus.com. With me on the call today are Len Liptak, Chief Executive Officer; and Brian Dow, Chief Financial Officer. As with our last call, Len will begin the call by discussing the fourth quarter and full-year 2023 business and operational highlights. Brian will then provide a review of our financial results and our financial outlook for 2024. We will not be hosting a question-and-answer session at the end of this call today.

A doctor pointing to a graph representing the diagnosis of a patient's sleep apnea.
A doctor pointing to a graph representing the diagnosis of a patient's sleep apnea.

Before we begin, I would like to inform you that comments mentioned on today's call may be deemed to contain forward-looking statements. Statements that are not historical facts, including statements about the expected future financial performance, timing, outcome, and impact of the FDA's review of the company's 510(k) submissions for the severe OSA indication and planned 510(k) submission of the company's RPMO2 remote patient monitoring device, financing, and strategic alternatives and other forward-looking comments are forward-looking statements. The words expect, believe, estimate, intend, plan and similar expressions indicate forward-looking statements, although not all forward-looking statements contain these or similar identifying words.

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Forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions, including assumptions about general economic market, industry, and operational factors, known or unknown, which could cause the actual results to vary materially from those indicated or anticipated. Such risks and uncertainties include, but are not limited to, changes in the time lines and potential outcomes of regulatory clearance and/or approval processes, development progress on future products, the availability of financing and strategic alternatives on economically reasonable terms, competition within the industries in which the company operates and variations in operating performance across competitors, changes in laws and regulations affecting ProSomnus' business, the risk of downturns in the market and ProSomnus' industry.

These risks and uncertainties are described in greater detail in our most recent Securities and Exchange Commission filings, including our most recent Form 10-Q for the quarter ended September 30, 2023, and our post-effective amendment on Form S3. Our SEC filings can be found through our company website at investors.prosomnus.com or at the SEC's website at www.sec.gov. Investors are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements relate only to the date on which they were made, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law or applicable regulation. Please note that this conference call is being recorded and will be available for audio replay on our investor website at prosomnus.com on the News and Events section under our Investor Relations page shortly after the conclusion of this call.

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To continue reading the Q&A session, please click here.