Sientra, Inc. (NASDAQ:SIEN) Q2 2023 Earnings Conference Call August 10, 2023 4:30 PM ET

Company Participants

Oliver Bennett - Chief Legal Compliance & Corporate Development Officer

Ron Menezes - President & Chief Executive Officer

Denise Dajles - Chief Technical Officer

Andy Schmidt - Chief Financial Officer

Conference Call Participants

Jeremy Pearlman - Maxim Group

Jordan Bernstein - Stifel

Alex Nowak - Craig-Hallum Group

Operator

Good afternoon and welcome to the Sientra Second Quarter 2023 Financial Results Conference Call. My name is Keith. At this time, all participants are in listen only mode. After Sientra executive provide their business update, there will be a question-and-answer session. As a reminder, today's conference call is being recorded.

I'd now like to turn the conference over to your host, Oliver Bennett, Sientra's Chief Legal Compliance and Corporate Development Officer. Mr. Bennett, you may begin.

Oliver Bennett

Welcome and thank you for joining us on today's call to discuss Sientra's second quarter 2023 financial results. On our call today we have Ron Menezes, Sientra's President and Chief Executive Officer; Dr. Denise Dajles, Sientra's Chief Technical Officer; and Andy Schmidt, Sientra's Chief Financial Officer.

We are pleased to have reported earlier today another quarter of record results for revenue, EBITDA, and free cash flow performance. We achieved our 12th successive quarter of year-over-year revenue growth with revenues of $23.1 million, representing 7.5% growth over the prior period.

Significantly, we achieved these results while also obtaining a 63% year-over-year improvement in non-GAAP EBITDA and a 95% improvement in free cash usage of under $700,000 this quarter. As Ron and Andy will describe, these results give us confidence of meeting our goal of positive free cash flow performance by Q4 of this year.

Before I turn the call over to Ron, I must remind everyone that we will include forward-looking statements in our prepared remarks and in response to any questions you may ask. These forward-looking statements are based on management's current assumptions and expectations of future events and trends.

Our actual results may differ materially from those expressed in or implied by the forward-looking statements. The company undertakes no obligation to update or review any estimate, projection, or forward-looking statement.

For a more detailed discussion of the company's risks and uncertainties, I would refer you to our SEC filings including our Form 10-K and Form 10-Q to be filed later this month available on the company's website.