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Apollo Endosurgery, Inc. Reports 29% Increase in First Quarter Revenue
ACCESSWIRE
Conference Call to Discuss Results Today at 3:30 p.m. CT / 4:30 p.m. ET
AUSTIN, TX / ACCESSWIRE / May 4, 2021 / Apollo Endosurgery, Inc. ( Apollo ) (NASDAQ:APEN), a global leader in less invasive medical devices for gastrointestinal and bariatric procedures, today announced financial results for the first quarter ended March 31, 2021.
Highlights
Total revenue of $13.9 million, an increase of 29% from the first quarter of 2020
Endoscopic Suturing System (ESS) revenue increased 26% and Intragastric Balloon (IGB) revenue increased 41% compared to the first quarter of 2020
Gross margin of 54%, 2% higher than the first quarter of 2020
Limited launch of X-Tack demonstrates excellent product performance, ease of use, and a wide range of upper and lower GI applications; commercial launch of X-Tack initiated with almost 50 active sites