ProSomnus Inc, a manufacturer of oral appliance therapy, reported record third-quarter revenue of $7.1 million, a 41.5% increase from last year, marking its seventh consecutive quarter of revenue growth.
“ProSomnus delivered another record-setting quarter, further establishing ProSomnus as the leading non-CPAP therapy for obstructive sleep apnea. An estimated 3 to 5 million people have OSA, have been diagnosed, and have failed, refused, or prefer non-CPAP therapy. We believe our record revenue performance reflects our sales, marketing and medical affairs execution and the growing number of physicians prescribing ProSomnus,” says Len Liptak, ProSomnus CEO, in a release.
During the quarter, Prosomnus also continued to generate and share clinical data, advancing enrollment in the Severe Obstructive Sleep Apnea study, while data from the Front Line Obstructive Sleep Apnea Treatment study was presented at five medical meetings during the third quarter. New data affirming the efficacy of ProSomnus devices was presented at the iBEDDSSMA Symposium on the Multidisciplinary Treatment of Sleep-Disordered Breathing and World Sleep Congress.
Additionally, ProSomnus announced in September that it had raised $10 million in a convertible preferred equity offering led by existing investors Spring Mountain Capital and Cetus Capital LLC to fuel growth and improve operations.