Financial Performance - Revenue for the three months ended September 30, 2024, was $2.292 million, representing a 6.4% increase compared to $2.155 million in the same period of 2023[85]. - Gross profit for the three months ended September 30, 2024, was $1.439 million, with a gross profit margin of 62.8%, up from 59.8% in the same period of 2023[86]. - Operating loss for the three months ended September 30, 2024, was $(1.761) million, compared to $(3.880) million for the same period in 2023, indicating an improvement[78]. - The company recorded a net loss of $(1.581) million for the three months ended September 30, 2024, compared to $(3.534) million for the same period in 2023[78]. - Total revenue for the nine months ended September 30, 2024, was $6.2 million, representing a contraction of 7.4%, or $0.5 million compared to the same period in 2023[95]. - Gross profit for the nine months ended September 30, 2024, was $3.7 million, with a gross profit margin of 60.3%, compared to 55.3% for the same period in 2023[98]. Expenses - Total operating expenses for the three months ended September 30, 2024, were $3.200 million, which is 139.6% of revenue, compared to 239.9% in the same period of 2023[78]. - Research and development expenses for the three months ended September 30, 2024, were $399 thousand, representing 17.4% of total revenue, down from 25.2% in the same period of 2023[78]. - Sales and marketing expenses for the three months ended September 30, 2024, were $719 thousand, significantly lower than $1.791 million in the same period of 2023[78]. - General and administrative expenses increased by $24 thousand, or 1.2%, to approximately $2.1 million for the three months ended September 30, 2024, compared to $2.1 million for the same period in 2023[91]. - Research and development expenses decreased by $0.1 million, or 26.4%, to $0.4 million for the three months ended September 30, 2024, compared to the same period in the prior year[92]. - Sales and marketing expenses for the nine months ended September 30, 2024, decreased by $3.7 million, or 60.8%, to $2.4 million compared to $6.2 million for the same period in 2023[99]. - General and administrative expenses decreased by $2.7 million, or 30.4%, to $6.1 million for the nine months ended September 30, 2024, compared to $8.7 million for the same period in 2023[100]. - Research and development expenses decreased by $0.3 million, or 18.7%, to $1.3 million for the nine months ended September 30, 2024, compared to approximately $1.6 million for the same period in the prior year[101]. Cash Flow and Working Capital - As of September 30, 2024, the company had net working capital of approximately $1.3 million, primarily due to cash and cash equivalents and restricted cash of $0.8 million[105]. - Net cash used in operating activities was $3.7 million for the nine months ended September 30, 2024, compared to $14.5 million for the same period in 2023[106]. - Net cash provided by financing activities was $12.1 million for the nine months ended September 30, 2023, due to proceeds from public offerings completed in February and April 2023[112]. - Management expects to run out of cash during the fourth quarter of 2024 if additional cash is not raised beyond the funds raised in October 2024[113]. Strategic Developments - The company is developing the Diabetes Bloc-Stim Neuromodulation device as a new treatment for type 2 diabetes, with no revenue recorded yet as it is still in the development stage[75]. - The company has entered into a merger agreement with Vyome Therapeutics, which may enhance its market position and product offerings[76]. - The company plans to merge with Vyome Therapeutics, Inc. and sell certain assets to Biorad, which will continue operations[113]. - The company aims to grow sales and operations of the Lap-Band product line both domestically and internationally, while introducing Lap-Band 2.0 FLEX to the market[113]. - Development of the Diabetes Bloc-Stim Neuromodulation device is ongoing, with future capital requirements dependent on various factors and to be decided by Biorad post-asset sale[114]. Accounting Policies - There were no material changes to significant accounting policies during the nine months ended September 30, 2024[116].

IRVINE, Calif., Nov. 12, 2024 (GLOBE NEWSWIRE) -- ReShape Lifesciences Inc. (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health-solutions company, today announced that it will report its financial results for the third quarter ended September 30, 2024, including a corporate update on Thursday, November 14, 2024, after market. Management will host a conference call on Thursday, November 14 at 4:30 pm ET, and will be joined by Krishna K. Gupta, a current Director of Vyome Therapeutics, ...

IRVINE, Calif., Sept. 19, 2024 (GLOBE NEWSWIRE) -- ReShape Lifesciences Inc. (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health solutions company, today announced that its Board of Directors has declared a 1-for-58 reverse stock split of the company's common stock, which will be effective for trading purposes upon the commencement of trading on September 23, 2024. At that time, each 58 shares of issued and outstanding common stock and equivalents will be converted into one share of c ...

ReShape Lifesciences Inc. (NASDAQ:RSLS) Q2 2024 Earnings Conference Call August 15, 2024 4:30 PM ET Company Participants Michael Miller - IR Paul Hickey - President and CEO Thomas Stankovich - CFO Krishna Gupta - Director, Vyome Therapeutics Conference Call Participants Operator Good day, and thank you for standing by. Welcome to the ReShape Lifesciences Second Quarter 2024 Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the confer ...

Exhibit 99.1 ReShape Lifesciences® Reports Second Quarter Ended June 30, 2024 Financial Results and Provides Corporate Update Entered into Merger Agreement With Vyome Therapeutics and Asset Purchase Agreement with Biorad Medisys Significant Reduction in Overall Operating Expenses of 45.4% in the First Half of 2024 Compared to the First Half of 2023 Conference Call to be Held at 4:30 pm ET on Thursday, August 15, 2024 IRVINE, Calif., August 14, 2024 -- ReShape Lifesciences Inc. (Nasdaq: RSLS), the premier ph ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-37897 RESHAPE LIFESCIENCES INC. (Exact name of registrant as specified in its charter) Delaware 26-1828101 (State or other ...

IRVINE, Calif., Aug. 13, 2024 (GLOBE NEWSWIRE) -- ReShape Lifesciences Inc. (Nasdaq: RSLS), the premier physician-led weight loss and metabolic health-solutions company, today announced that it will report its financial results for the second quarter ended June 30, 2024, including a corporate update on Wednesday, August 14, 2024, after market. Management will host a conference call on August 15 at 4:30 pm ET, and will be joined by Krishna K. Gupta, a current Director of Vyome Therapeutics, who will be appoi ...

CAMBRIDGE, Mass., July 09, 2024 (GLOBE NEWSWIRE) -- Vyome Therapeutics, a clinical-stage healthcare company targeting immuno-inflammatory and rare diseases in the US and global markets with large market potential, announced today that it has signed a merger agreement with ReShape Lifesciences (NASDAQ:RSLS). Upon closing, it is anticipated that the post-merger entity, will be renamed Vyome Holdings, Inc., and continue to have its common stock traded on Nasdaq under the new ticker symbol "HIND", an ancient na ...

ReShape and Vyome, a Clinical Stage Specialty Pharmaceutical Company Working To Treat ImmunoInflammatory Diseases of Unmet Need, to Combine in All-Stock Merger ReShape to Sell its Assets to Affiliate of Biorad Medisys for $5.16 Million Simultaneously with the execution of the merger agreement, ReShape entered into an asset purchase agreement with Biorad Medisys, Pvt. Ltd., which is party to a previously disclosed exclusive license agreement with ReShape for ReShape's Obalon® Gastric Balloon System. Pursuant ...

ReShape and Vyome, a Clinical Stage Specialty Pharmaceutical Company Working To Treat ImmunoInflammatory Diseases of Unmet Need, to Combine in All-Stock Merger Under the terms of the merger agreement, which has been unanimously approved by the boards of directors of both companies, existing ReShape stockholders will own approximately 11.1% of the combined company immediately following the closing of the merger, subject to adjustment based on ReShape's actual net cash at closing compared to a target net cash ...