SIEN - Earnings call transcript Q3 2021

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Operator

Good day, ladies and gentlemen. Thank you for standing by and welcome to the Sientra Third Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Please be advised today's conference may be recorded. [Operator Instructions] I would now like to hand the conference over to your speaker host, Oliver Bennet, General Counsel and Chief Compliance Officer. ahead. go Please

Oliver Bennett

statements afternoon XXXX Good remind to Sientra United will the that within forward-looking Thanks, meaning the conference and call. quarter of include we today, earnings our securities to are I third considered in statements laws. operator. States remarks welcome that would everyone like

make may management in addition, forward-looking statements response to In additional your questions.

Dajles, to Officer; Denise President the call Menezes, company's turn Executive Investor and Relations Development. Ron. or deemed and website Sientra which Vice Actual performance. Officer; strategy, also routinely including on note expectations the uncertainties of filed that it's Form detailed and XX-Q in Chief trends at I Forward-looking undertakes materially posted Ron? our operations of be any Research and call, is from future Sientra uses business, results the it's the investors. report and and to quarterly XX-K and Chief implied Company's estimate, Sientra's financial in to Financial and assumptions those on expressed statements on now may management's Schmidt, are like in www.sientra.com. that have Relations it's the Ron about company information risks information will would Form forward-looking the website statement. President current on that that Investor A company or faces based company, publish The over or on discussion accessible we will the previously or affect forward-looking Today Andy may statements. to quarterly is update review Friday. other important projection information may reports Financial the and events and material by annual I company contained no of our about differ and XX-Q on to obligation is file Sientra's

Ron Menezes

is of in on our call. by to surgery. 'XX mission and leader Thanks, on in surgeons today this our quarter auto plastic third become to plastic coordination everyone and goal The category. focus advancing thanks the board-certified for Sientra earnings This enhance reflected our market a joining us is lives

including hear plastic growth of plus providing which XX% and You're showed has past services. deliver by that This prior significant over both all-time the the to results grew augmentation choice to the over today enabled progress we're us partner for surgeons quarters this products sales becoming at exceptional row, reconstruction five total accounts. a year. in towards going and for high Net making focus to an XX% quarter

growth excellent XX% strength reconstruction Importantly, force for driven the primarily by a dramatic portfolio. this was by increase sales We product augmentation. and reconstruction the our existing third the saw quarter, both driven in our market, growth in execution in accounts of demonstrating

a As accounts the matter quarter the third the fact, represented in existing growth XX% growth. of from of overall

marketing We of creating X,XXX XXX than on more for total with unique greater a initiatives implants Sientra quarter, We're an accounts new accounts. this our seeing benefit and also emphasis demand surgeons. high of accounts of partnering plastic patient added the to through all-time bringing number

key surgeon plastic to to patients customers. loyalty. efforts almost now acquisition driving patient referred Our XX,XXX physician been have we our have Year-to-date, greater

the gains share data And the and best is the has Sientra's share based obtained by strategy of quarter implants latest reconstruction Our purchases as and to working this points. year-over-year market on IQVIA, is And past hospital far from according data, share execution was the history. quarter year-to-date three expanders for increased Sientra brand years. three with in sequential across so both only this Sientra's

implants for existing revenue revenue and accounts. all-time came both reached used tissue reconstruction and also from recurrent expanders for XX% We in highs of

working. is adding contracts. created by to new with gain demand this future share We'll continue the market in to our strength market a the our expand while of our in to accounts, existing well-positioned space to accelerate grow GPO strategy to safety Our sales products accounts of share the drive and

highest and outcomes and reoperations. leveraging Medicine tissue from We're gains the AlloXX and University can on the the in hospitals of focused new expect is study this adoption. reconstruction which that port to U.S. account of addition prepectorial XXX the innovative quarter for confirmed which very independent business start typically we're to of while provide new volume momentum the targeted increased procedural School future in patients' that product delighted with takes it improve leading accounts seroma technologies to we patient to designed We're revenue. Sientra's the reconstruction, team six to reduce possible enables best efficient hospitals that way Stanford and an dual intervention to growth breast of fuel the minimize Our to see favors management The to product lives new safety months as pleased early complications four share confirming expander outcomes. generating

the high. events. important that a is partner we several year-to-date Plastics, surgery to over augmentation breast but community. execution Mission a breast We saw The We Market believe that it's access XXXX. the commercial do surgeries. share that and our to organization four-year surgeons performing centers products. already also to across services in expectations, supporting and provide represented We strategy We to up We're more free also breast contrary XXXX, events market perform using reconstruction give that continues flourish. XX% superior we with products share surgery bit X% to nonprofit signed our education those hosted to with the U.S. facilities over reconstruction XX a surgery for data almost women almost expand property XXX our It's medical market recently excited back up outstanding than at provide hospitals to to augmentation and in announced shows overall

close in was to XX% to breast the entrance be the quarter X%. estimated share it's market over augmentation, fact, history. in now slightly be In to in and estimated grow XXXX while to is highest The continues comparable

loyalty towards very us. they next the enthusiasm recent are breast stickiness they for they of real According XX% customers' remains to the within give and Our difference consumer us, likely to considering indicated stay When breast augmentation market women months. XX a implants And augmentation to us. is here come research, with strong.

brand breast surgeons is education them implants. growth those a of fueled brand by Our to for of consumers our consumerize use to And Sientra and efforts when the surgeon. category. that for guiding XX% XX% content considering augmentation ask of the brand, will

up called in drive account pull-through message Our doors is date, level. us. new program we cater experienced at continuously online our best-in-class mine surgeons success, is profile. have next for that opening tended Sientra Xx the commitment to And by year. started safety a Sientra this revenue of innovation refocusing our To growth fuel to safety the program. initial backed presence future high to supports assurance be among scaling growth our That is program we'll on and patient Pico satisfaction. and We based

a We for tissue XXX(k) submission Pro. AlloXX for are track expander next-generation on year-end

our Andy setting we to in quarter the will performance. a through final both a markets, on healthy to more XXXX. to momentum strong move start the finish importantly, and continue As reconstruction the financial now give year, details of augmentation year, for see our up we'll strong

Andrew Schmidt

Ron. Thanks,

on quarter third great many quarter a fronts. was Our

In will that a for performance set strong the key commercial XXXX. stage in terms milestones of and of business terms

loan. terms key accounting current to our the company that to in $XX represented of loan the into address adjustments will period longer related fair dive I key financial our reflect going results, quarterly a will in a let loan statements to financial me treat to structural as $XX item worked that in is any or equity balance P&L as to instrument. a accounting The QX debt. longer no The modify value In loan outcome agreement be, essence, employ us should no exactly a is statements. convertible Before debt. documents required are our it The forward, derivative we and sheet million there convertible financial be allow million

financial much in of do prior was Our noncash final increase on with this liabilities, show equity due adjustment a accounting. the loan the in modification. reduction somewhat past charges to improved associated a big results shareholders' plus a statement, offsetting set quarter an of P&L statements derivative period and third current period The

outcome implants. big XXXX positive PPP quarter this and shows $X.X company. and California a we move for Santa true is going in win very positive income loan. physical the of will efficiency the Wisconsin, manufacture for An move period create as where was forward. the finance-driven This million This quarter, forgiveness cash the in our the a for liabilities of from our was event in our also to second us center The opportunity reduction operations-related distribution a Franklin, Barbara, positive

will I transition However, costs it the in discuss third that does with incurred shortly. it quarter carry

and we processes. Finally, business promote migration, high address have our August move for This processes our demand future order the to cash our ERP continue include ability we to our X will products. to system our to scale logistics

Sientra Now as five million to of to increase recorded consecutive running revenue financial quarters brings revenue QX We our of in 'XX an shifting revenues of XX%. plastic surgery million 'XX, a total $XX.X record results. $XX.X posted QX results which record compared QX performance. to

of is customers. which a with QX from performance was that augmentation XX% saw Gross While performance reconstruction our for affected vacations, a from margins 'XX. seasonally consistent and surgeon strong our continued by period QX customers big 'XX we is

channel is costs and our earlier, cost inventory XX% center the across key We A to Wisconsin. cost is As seem consistent mix, natural and given Franklin, counterintuitive quarter of stability incurred performance price to to entire mentioned What performance. Santa move is cost distribution experienced our sales. for may the the I product expected, product the move distribution Sientra line strong to of shipping as margins driver period product of this from be part unique is in reconstruction additional distribution space. California expenses a Barbara, gross our in

QX. shipping QX, reduced time did help distribution additional us In margins All organize In will demand. shipping our continue will gross down as in strong achieve same said, centers expect requiring the shut addition, percentage at in anticipated to costs a not our day quarter, gross in customer in we to we are continuing to Franklin still QX. to margins business single in product time see run This that to making the us XXXX. for cost confident new we by points we ad are higher quarter, center 'XX changes distribution spend distribution two during the X essentially the while approximately we our

loss assets will and to $XX.X $X.X year. Okay, XXXX. million million million switching used a expense. items. of sheet sales QX of million to expense of income modification EBITDA to will period We Switching $X.X period other was increase in balance profit of with 'XX a has primarily loss the opportunity million the as adjustment other in 'XX net a marketing capitalize increase. in 'XX that million gain on of $XX.X for 'XX profit for compares XX, our cash The convertible market relief This QX due $XX.X the was Total the September and QX to loan operations million of compared to which debt $X expense of component. and the at key $XX period related in with to XXXX The Adjusted million expected, that agreement PPP primary due $XX was vary our as a cash balance lie of go-to-market raise our period, $XX.X netted and current continuing million is cash as cost million driven $XX QX $XX.X period the million to is by in balance in ahead. as to final was this 'XX. to $XX.X company comparable and The future increase continue invest million. of million. GAAP $X.X from ended invested XX, expense The operations million. which and million. operating current activities variable our for sales to Total the the QX financing includes 'XX. was an marketing reflects capital which to operating $XX.X has $X.X QX activities operating The December compared is our for represented increase of cash of Year-to-date

the and attributed accounts quarter increase ERP that delay systems of XXXX was receivable caused in million an customer $X.X sales due in our delivery to of increasing However, in statements. to our transition current in which amount

to recapture much quarter the We accounts to increase of receivable that expect quarters. two next in over

product to We inventories also and $XX demand. increasing approximately robust sales million increased by year-to-date address

$XX.X Total $XX of XXXX, million in PPP the XX, XX, Finally, the were the miraDry an of $XX during $X.X approximately of year-to-date. discussed. year relief previously at forecast debt of slightly shares reflects million. million of outstanding million at resulted was the by Total sale offset million XXXX, September inflow which loan September $X.X CapEx

to Now for guidance XXXX. turning

We end of $XX the in revenue to revenue are surgery up XXXX. and of growth $XX compared raising million the our million plastic $XX XX% million. expect lower in reflecting sales range guidance now of to of to

to of to $XX in expect operating expenses range XXXX annual continue $XX We million be to the million.

turn in looking the at be participating December Conference Craig-Hallum calendar, on our at Conference Conference presenting Investor Nashville At Healthcare next X. next we presenting call Finally, Tuesday QX Stifel Monday, and busy in this we'll at Ron. to a the Relations the Alpha have I'll Investment back the and Stephens point, Select

Ron Menezes

Andy. Thanks,

as we strengths. optimistic starts very growth leveraging our market It our are accelerate share XXXX in confident head with and all can very unique that we by people. We

on commercial market surgeon is focused additional Butterfly add bouncing education acquisition, back. during recon is added and partnership Our patient innovation, team when with the time to including the will hospitals a

We believe will open for We of profile. the that to plastic advancing have products on focus surgeons I'd enhancing unmatched now, Q&A. like choice auto as we Operator? lives, have partner plastic the for the And up call safety surgery. also an that become

Operator

Thank Instructions] with of you. Our from Craig-Hallum. coming the question Alex [Operator Nowak first line

is open. Your line

Alex Nowak

Great. I we QX out could was guide implied here. on Good afternoon, hoping everyone. start the

you on think quarter next thinking versus you flat growth the can given sequentially? And be into you why that XXXX? next expand QX, Just quarter outline about QX to stronger will then perhaps down how can just you're going seasonally

Andrew Schmidt

a a keeping QX QX momentum, Well, a quarter. QX is down is down us Thanks. of which quarter This performed started Andy. We with first thought was all, well. think quite of don't a up, we Hence, think we're our We we to off QX. lot finish seasonally very guidance. going we're very bringing busy. about We're great targeting the very strong. We're why higher to of optimistic the guidance obviously, end year the seasonally start.

Alex Nowak

And on the then, just anything XXXX commentary?

Andrew Schmidt

don't We guidance XXXX. in this at point out have

and QX As to with a matter of look working we'll Board be provide Directors and of actually XXXX forward-looking terms our future approval the that our in of of fact, plans guidance. in to we'll

Alex Nowak

for Okay. No, in that about implants then obviously strong And we the sense. makes demand keep hearing market.

demand years? rolls next phase think plays here entry you you demand over? in? renewed sort Do over Or were this think you do how So there's out some do the for that couple of of the think of growth breast implants

Andrew Schmidt

it this the in ever it seen Right the Alex, slowdown XXXX the year-to-date, been augmentations grow years. expectation the the surpassed of that normal. two continues is and a is normal now now market highest by number a to pre-COVID. now, new X% new quarter. We've in The next has U.S.

for We new years. a They're getting an coming is implant now implants. slowdown five the have in seen have come to XX a not in And months when right what last four, seen and year-to-date. revisions. we've the women that lot If they in XX

ago. revisions high is the at very augmentation, five the quarter all that revenue critical and the all really we market us So But with market now very, our primary saw reconstruction across the or that seen was done this beginning and year months for for share as business. an in the four work those the for strategic robust. to did hospitals across work results of thing all-time gaining We both

Alex Nowak

appreciate Thank That's you. the great. I update.

Operator

from Kaczor next our William with And line of coming question the Blair. Margaret

line is Your open.

Margaret Kaczor

for taking afternoon, my Hey, guys. Thanks questions. good

XX% I which this number up with or XX% me year start can maybe to but is you account account wanted up think your base the on to base so. maybe the I exact So, trim

to can based something So growth? up average there up augmentation shouldn't to accounts so line revenue a those in is that, or they and for accounts? obviate XXXX, company you look the those come as do would assuming Or draw that that factors we right that other guys are numbers just product on the breast

Ron Menezes

at of of in a some mind, -- surgeons, you're total those in There's X,XXX roughly looking are so X,XXX are them not lot hospitals Margaret, a same to growth. office. of X,XXX the reconstruction keep still surgeons Yes. plastic and

in in for expanders. we a breast Part of There's share I XX% XX% have and As of it for ahead lot augmentation tissue share share, us. in XX% the have we implants of hospital be will accounts. growth and a still existing

As have our expand right accounts. share. a we I to continue possibility lot roughly stated, And of to now X,XXX those have market

to those some ability have things your make have we'll right that. other we deployment, of a hand, you But forward number And be the right still programs a long as expect assessing accounts areas months. On as the share the We down in to growth. slow representatives sure XX the our in don't assessing go number and we also next there's are the gain from to the current move of well. ways

We in expect to our accelerate XXXX. actually growth share

Margaret Kaczor

same Okay, And today of have around few that to time watching we're quarters? that's that had before. things or surgeons my of and sort demand curious example, this you're the asked business then, about patient Meaning not the thing useful do visibility versus that because is our as still over changing? is booked commentary. months the one really any that colleague for surgery seeing underlying range the And last you you're up, the of build? part But is something four three

Ron Menezes

down of I in lot a Texas. before go a January because be program in able will Academy. there buzz returned for of some those Austin, surgeons Sientra surgery. you to was from a in It's were we did just that And meeting that

adding all. a the we the that more holidays. And from that don't before reconstruction, that lot hospitals staff. They're down contracts see of a I the six in down have surgeons. thing, I from a we're Some next at And months. don't of them busy. right very, They're adding see And slowing maybe seeing They're the same you more demand sneak again, slowing now. very

Margaret Kaczor

I if squeeze more could And in side. that hospital Okay. one on

about So ago, Purchasing with think HealthTrust we you talked year I a the Group. into contract guys -- getting

You're obviously XX% able to accounts. being share existing still by driven add but is growth your of

So reconcer ultimately partnership seen six catalyst favorable. of as four force can you enough back go frankly, the the market? full or be a that to becomes, And seems ramp to over have quarters we all the question come into in that out that of next pretty out [ph] to really

Ron Menezes

beginning I Butterfly Are question. to you missed your referring of the partnership?

Margaret Kaczor

group. The HealthTrust purchasing

Ron Menezes

Yes. right on GPOs contract at this we Yes. the the coming We third includes in seeing We was had of year all our the from -- yes, them one to the results. That have accounts, XX% reconstruction. of for all investment the the our beginning that we're now, XX% that we That part accounts. new seeing really results we're that's focus of sales reconstruction about strategic of GPOs, existing from did and quarter.

that You see in third the happening quarter.

acceleration reconstruction. work on reconstruction. supports the strategy months We was quarter. the to that continue is and And to about see in our the from the critical first sustains Recon. one from done past coming quarter focus the All in fourth that was and six this actually of saw things XX% is came total quarters, we sales the it two of XX% And in

Margaret Kaczor

guys. Okay. Thanks,

Operator

next our of coming with And the Jon from Block question line Stifel.

is line Your open.

Jon Block

of I having of the get in margins. the parts the with XXXX I'll Good duplication resolved quarter headwinds third quarter, first and you Andy, And gross start these on guys. think this the the are XXXX. maybe fully moving afternoon. Thanks, I just quarter Great. for

in XX% a XQ. point? that couple so, a the the lot good other that that Or over can sort in our XXX to year up moving and be months? XXX just next think I Essentially, companies, the if range. I'm does cetera, curious we into of crept the starting supply past are a fourth stub issues, around there there'd I'm high said parts start the bps et we that's from still if have equation of of mean hear chain from And still quarter. you

Andrew Schmidt

to sight Jon, plus. still that when into line of again we high look forward, get XXs see we

distribution of out but stub be expect As you We that. commented, strong again also it based maybe ahead. we of expect part another And the be that And efficiencies have grow the center guidance a cost, to And going QX. we're don't then we're QX on yet for into that of our see will growth on DC, have a to we to growth size past XXXX we volume, year us. based year.

rates. I again, the think to have right company for to go and necessarily people as COVID increasing environment, we we're see XX% it So everyone going business. right it facilities, in, affect right you in business demand building a margin we as product place. in consistently. us going really of fact would the Each and build into see way. our don't we're keep we high-margin XXXX headwinds as terms We XX% the each way in We did else but type now type put very But to quarter is see, of that gross quarter this like it us, the labor that slightly doesn't in the

it So From labor supply in any but issues been not shape. significantly the on in terms materials we good somewhat see perspective, and equation. We consistent of that side of with in see we've chain. overall very terms yet not do the

Jon Block

headwinds in some X-player typically, much thoughts the next 'XX. the helpful. not opportunities to just year? know to there just XXXX give pivot, high-level that of international we more you the love to That's Pro. new guidance now any realization, a Canada, tailwind that Great, you're structure maybe level, Can a next lot inflationary And incrementals Despite the about? talk very AlloxX should this to environment. other in a but that's then They some Ron, pretty I color. year? be right at fulsome in any opportunities really appear of market, there's your be don't prove of on think price just, of more been We of can high going I Are thinking

Ron Menezes

hear When player the quickly now. augmentation are for share think in where accelerating U.S. hospital environment the still for tissue acceleration 'XX XXXX Health number with That's share back growth. In in is the well XX% in Regulatory, XX% we Canada, a I I beginning opportunity President and to market increase the Canada we our And are and of three Dajles, from we're the regards of to AlloxX quarter. of the the XX% as this Denise opportunities that established in of of win know, join and the us saw Sientra Jon, to labs. as share yes, you continued share expecting do are Vice R&D have Head we expander, still Pro, June and we'll from

So comments Denise, Pro. any about AlloxX

Denise Dajles

Thank not also benefits with for really the platform this Pro, because because designed a surgeons. you, has of with plastic buildup benefit and patient resonate excited innovation the the but on of and sure. that patient lot upcoming we submission Well, are that up we're all it's very of AlloxX AlloxX and a know Yes, features about only safety Ron. our

compatibility, and So less up our technology. we're this also continuous rollout benefits as Pro patient interference comfort pipeline. brings radiotherapy be will with a and MRI state-of-the-art this enhance treatment platform such in building with innovation imaging, interference AlloxX location less but on of

the coming constant So and it's excited in because, refocus new product rollout you a see this very will a on we're months. about again, innovation

Jon Block

great. Denise. That's Thanks, Thanks, Ron.

Operator

our And the line from question Instructions] of next with Anthony is Maxim coming [Operator Vendetti Group.

open. line is Your

Anthony Vendetti

bit the little market about a share Thanks. Yes, gains. talk just

move X but opportunity the you continuing here, business, at you the of Do a said to continue market trend think points. as share? taking what I taking I forward -- 'XX end share the XX%, market approach. others Ron, the percentage you But see that two-pronged at do you're current terms about you the staying the think do by growing increasing, around not is ability of know it's from it's just in pace up you see just same?

Ron Menezes

was versus over close in We're now the it It's the slightly right what obviously. is last I Anthony, now was about we're Yes, year. market robust The market growing. market. XX%. it is see -- us slightly back to expanding 'XX, annualized X%

opportunity physicians share do growth with the to come the when us us. stay So patient with they on we to programs they stay ensuring they loyalty to all physician you have accelerate the to regards flip continue in that and board, Sientra, with when

to of came she surgeons said, back they've over the ever this And just weekend, products had So we next do help out in 'XX the very, know. to We tell 'XX. I year. have from opportunity very lunch program, also making never and and have platinum a we have website. competitors have going had our They the go And products, same company safety best for different the you XX-year Sientra things "I've network. apart. because those to the they last Are understand referred to those programs, time have have. XX-year double been are Once things next patients surgeons. our help not have year bring XX,XXX Sientra like doing the But guys warranty do that you business see the we some our the my for to that tender are me, our we we attend our aggressive I program we to have the that continue acceleration. But lost category. because surgeons patients." to. We that by They had on don't goals this accelerate physicians XX have is are patients our the set ourselves help an from website, to confident over me come

year We their year. not redo see about out them referrals, we're do so teach excited they very next we those acceleration and retain to teaching of lost to how them share So We're website. next in growth space.

Anthony Vendetti

-- the little any bit. you just your I side? helpful. It any like well for then, of on prepared increases And the seeing manufacturing in that. very that's supply Great, chain a you on But are issue sounds you're know cost products touched

Ron Menezes

of is Actually, seeing again, made We X.X And Denise us those the No. new terms doing finding hire in continue last manufacturing. product we're tremendous we're keep terms new and She of product make the also a years with terms of opposite. productization here. in key in but terms to over gains. at in efficiencies. what We've well is gains also innovations in and as

seeing So of price discounting, in might again seeing model stability stability, dropping Even strong up. as the though, labor again, lot where a be just seeing and to stability actually we're great costs. not rates I'm grow, price real we we're

which those as, efficiency reduce materials see have volume chain. to the are people We costs opportunities reduce with well buying what supply perhaps opposite an as of We on from perspective. other is seeing actually costs opportunities again

into we're expansion going on to the date. XXXX, go but to efficiencies we of we XXXX We're off XXXX, ability have based when will see to be advantage and years to going we on. infrastructure are the to So in the going take invested again market see pay

Anthony Vendetti

Well, definitely save move? just the been to That's you obviously, in third expected ongoing some eliminate associated you be the I know a other move hear. What from hearing companies SG&A report from just on that. refreshing But -- as the annual maybe costs. savings charges what there's from an they we've real perspective after it's said, can or Santa their there's with to basis costs the annual XXXX? an Barbara quarter Andy, Wisconsin would great earnings. savings are with from the like estate perspective onetime some what

Andrew Schmidt

start with quantify. to one I'll the easy

put produced distributed. Santa it added Barbara, Barbara on to be Santa truck roughly from then from product a to sending fees distribution it shipping taking million and of our center, finished Franklin, takes $X Franklin, in Moving California, the non-value that's

an comes annualized So play $X million into year basis. that on next

the that growth. part play comes do Obviously, Again, slow plans see growth other a now or The big an have facility organization we year. for us this is with any can a not in this have year we that business. scale to into

grow So to will a facility to then, in as able the distribution to we're going that cost of percentage down. be of basically which bring sales,

of we'll advantage I do Again, don't number So looking have terms in we eyesight take but of for be actually scale. at we have how a that. specific you

out here in so us a in where that was have SG&A, we're especially significant more be otherwise, So presence onward. front lease in and alone 'XX will and of and total of of here of produce Barbara and But be And in terms still California in doing XXXX. a our be Santa XXXX some Santa savings our we'll as Southern of and well facilities but to site COGS, bringing in have XXXX, of that in in a we we'll in I lot Franklin, 'XX will one down Wisconsin talking Barbara presence. that minimizing four consolidation were

Anthony Vendetti

Okay, appreciate much. great. Thank you it. very I

Operator

we from a with And Jon question follow-up Stifel. have Block

is line open. Your

Jon Block

guys. Yes,

are as well. the we usually sure getting just the go to for do let There's a Sorry Q&A? apparent. we gains colleagues quarter. really I'm lot it's of I that but I way follow-up, Can share are don't very this off another the back market emails, my I'm mean strong

the sure leave trying would if and range more accounts in a by answer want the be. to And not it make have environment. into little the market think for certainly some anything it's is revenues? or the good missing sequential there's sequentially XQ. a sense sort in that's than a bit error, want our being We just seasonal imply to You a to flat reconcile me. a scratching really going COVID message conveyed head tailwind I fine is a why then you we're what and you I had is, we're And of not have into XQ, of room midpoint think all that still shape shouldn't more conservatism, of XQ going you just just

starting to just that? can address sort back to and try point that So we of go

Ron Menezes

Yes, with slowdown. seeing somebody end know the that. with our But are guidance, the very two, guidance be best of the the of based quarter in me comfortable comfortable and actually very by into very we're now upper for confident we and why going in that's ever upper you we're saw Jon, What and on this we don't we not a in patterns is you asked end yes, And we to finished far I'm QX. the I'm the in normal year exactly year confident third our very the come what for for And QX. expect company. even seeing being are but what ended November very,

Jon Block

guys. Thanks, enough. Fair

Operator

at now Menezes to to Ron no I back this I'm over closing And turn call like showing time. remarks. any Mr. further for the would questions

Ron Menezes

time. to the Appreciate look seeing your in forward thank weeks different and everyone the some we investors you Well, at conference. you, of two next

All of a afternoon. great you have

Operator

for does conference Ladies Thank conclude and gentlemen, you today. that our for your participation.

disconnect. may You now

Sientra (SIENQ) 11 Nov 212021 Q3 Earnings call transcript