Sientra, Inc. (NASDAQ:SIEN) Q1 2023 Earnings Conference Call May 11, 2023 4:30 PM ET

Company Participants

Oliver Bennett - Chief Legal Compliance and CDO

Ron Menezes - President and CEO

Andy Schmidt - Chief Financial Officer

Denise Dajles - Chief Technical Officer

Conference Call Participants

Alex Nowak - Craig-Hallum Capital Group

Joe Federico - Stifel

Anthony Vendetti - Maxim Group

Operator

Good afternoon, everybody. And welcome to Sientra’s First Quarter 2023 Financial Results Conference Call. My name is Eric. At this time, all participants will be in a listen-only mode. After the Sientra executives provide their business updates, there will be a question-and-answer session. [Operator Instructions] As a reminder, today’s conference call is being recorded. [Operator Instructions]

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

Thank you and good afternoon. We are pleased you could join us on today’s call to discuss Sientra’s first quarter 2023 financial results. On our call today, we have Ron Menezes, Sientra’s President and Chief Executive Officer; and Andy Schmidt, Sientra’s Chief Financial Officer.

As we reported earlier today, Sientra has continued its unbroken record of 11 consecutive quarters of record year-over-year growth. Importantly, we have achieved this revenue growth while also reducing our expenses and increasing our leverage through continued operational efficiencies and synergistic product additions.

We have now had three consecutive quarters of record low free cash flow usage, translating into a $23.6 million year-over-year improvement over that same time period. We have seen similar improvements in our non-GAAP EBITDA performance, which has improved by nearly 30% year-over-year or $7.8 million in the past three quarters.

As Ron and Andy will describe during the call, our continued market share and revenue growth, combined with our disciplined cost management gives us confidence that we will reach cash flow breakeven run rate by the end of this year.

Before I turn the call over to Ron and Andy, I must remind everyone that in our remarks today, 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.