Sientra (NSDQ:SIEN) posted second-quarter results this week that missed the earnings and revenue estimates on Wall Street.
The Santa Barbara, Calif.-based medical aesthetics company reported losses of -$20.1 million, or -35¢ per share, on sales of $20.1 million for the three months ended June 30 for a sales growth of 115.95% compared with Q2 2020.
Sientra’s EPS of -35¢ was 13¢ behind The Street, where analysts were looking for sales of $20.68 million.
“We had an exceptionally strong second quarter, with record Breast Products revenues and total number of accounts reaching the highest in Sientra’s history. We are now solely focused on the plastic surgery market and clearly demonstrating our ability to take market share. Breast augmentation continues to be our strongest growth driver today. Encouragingly, we saw 121% growth in our augmentation sales in the second quarter of 2021 compared to the same quarter in 2019, which significantly outpaced the augmentation market growth of an estimated 1.5% during the same period, further highlighting the significant traction we’ve achieved over pre-COVID levels,” president and CEO Ron Menezes said in a news release.
“Additionally, we were delighted to welcome several additions to our leadership team. Our ability to attract rich, new talent and leverage their wide range of expertise will be key to our future growth. As well, adding greater diversity to our organization continues to be a critical objective for us and we are proud that half of our Board of Directors and Executives are female – which we strongly believe provides us with a competitive advantage as we continue to focus on becoming the leader in bringing transformative treatments to progress the art of plastic surgery.”
Sientra updated its 2021 revenue guidance to be in the range of $74 million to $78 million to represent 35% to 42% growth over 2020.
Shares in SIEN were down -5.05% to $6.70 apiece in early morning trading. MassDevice‘s MedTech 100 Index, — which includes stocks of the world’s largest medical device companies — was up 0.1%.