Endologix Inc. (NASDAQ:ELGX) Q3 2019 Earnings Conference Call - Final Transcript

Nov 06, 2019 • 04:30 pm ET


Endologix Inc. (NASDAQ:ELGX) Q3 2019 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the Endologix Third Quarter 2019 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. This conference call is also being broadcast live over the Internet at the Investors section of the Company's website at www.endologix.com, and the webcast replay of the call will be available at the same by approximately one hour after the end of the call.

Before we begin, I would like to caution listeners that comments made by management during this conference call will include forward-looking statements within the meaning of federal securities laws. These forward-looking statements reflect management's expectations about future events, milestones and results of operations, including anticipated regulatory approvals, clinical trial status, products portfolio updates and financial and operating projections and plans. These are known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

For a discussion of risk factors, the Company encourages you to review its most recent annual report on Form 10-K, quarterly report on Form 10-Q and subsequent reports as filed by the Company with the Securities and Exchange Commission. Furthermore, the content of this conference call contains time-sensitive information that is accurate only as of the date of the live broadcast, November 6, 2019. Endologix undertakes no obligation to revise [Technical Issues]. Sorry about that. Endologix undertakes no obligation to revise or update any statements to reflect events or circumstances after the date of this call.

In addition, today's discussion will include reference to adjusted EBITDA, which is a non-GAAP financial measure. Adjusted EBITDA is a key measure used by the Company to evaluate operating performance, generate future operating plans and make strategic decisions for the allocation of capital. Please refer to the Company's press release issued earlier today for further information.

With that said, I'd now like to turn the conference over to John Onopchenko, Endologix's Chief Executive Officer. Please go ahead.

John Onopchenko

Thank you, operator. Good afternoon, everyone, and welcome to our third quarter conference call. Today, I'll provide a brief overview of our third quarter 2019 results and also provide an update on our product portfolio, including a comprehensive update on FDA status and the approval time line for EVAS2, Alto and ChEVAS. I will then turn the call over to our Chief Financial Officer, Vaseem Mahboob, who will review our third quarter financial results and 2019 financial guidance in more detail. After that, we'll open up the call for questions. As a reminder, we have posted an updated investor deck on our Investor Relations website directly below the webcast link.

I am pleased with our solid performance in the third quarter, as we achieved year-over-year revenue growth for the first time in more than two years, while continuing to effectively manage our expenses and operating cash burn. Our improved performance across the business includes sequential growth of U.S. AFX2 volume. We remain focused on