Dialysis devicemaker NxStage ($NXTM) trimmed its losses in the second quarter, reporting all-time high revenues of $59 million, a 10% jump over the previous year.
The company took a $5.1 million loss on the quarter--including a $1 million one-time amortized debt write-off--down from last year's $5.6 million loss, the company reported.
NxStage credits the revenue growth to the expanding adoption of its System One hemodialysis tech, which brought in $40.1 million on the quarter after grossing $35.6 million in the same period last year. At-home sales of the device saw a 14% hike in Q2, pulling in a company-record $30.7 million. Critical care jumped 9% to $9.4 million.
CEO Jeffrey Burbank said NxStage is on track with its growth strategy, getting its products into more and more clinics and households. "Home and more-frequent hemodialysis with the System One is great therapy that has been consistently reported to give patients access to a much richer and longer life," Burbank said in a statement. "We continue to show that our therapy can benefit patients, providers and payers."
Looking forward to Q3, NxStage expects further growth, predicting gross revenue of about $61 million, in part thanks to EU approval of a new feature for System One that automates bolus administration.
- read NxStage's release