Sientra reports smaller loss for Q2
Sientra recorded a net loss in its most recent quarter, missing investor expectations, even as the company’s financials improved, according to financial results released Aug. 10.
The Goleta-based breast implant manufacturer reported an $18.5 million loss from continuing operations in the second quarter, or 32 cents per share. The loss was a 40.7% decrease from the same period in 2020, when the company posted a $31.2 million loss, or 62 cents per share.
Sientra attributed the shrinking losses to new accounts, increased brand awareness, more than 10,000 referrals to plastic surgeons and an expanded leadership team. Sientra hired two new executives, CFO Andy Schmidt and head of research and development Denise Dajles, and added two new board members: Dr. Irina Erenburg and Nori Ebersole.
Sientra also said it expects to take a loss for the full year. While it increased its expected revenue from a range of $72 million to $76 million to a range of $74 million to $78 million, the company restated that it expects operating expenses to fall between $85 million and $90 million.
During the second quarter, Sientra closed the sale of its miraDry business to 1315 Capital.
Sientra shares opened at $7 on Aug. 11, down 6.7% from the previous day’s opening. Shares are up 83.2% since the beginning of the year.