Fuse Medical reported its first quarter 2019 financial results, posting a revenue drop of 20.54 percent.
What you should know:
1. Fuse's revenues decreased from $6 million to $4.77 million year over year.
2. Fuse decreased its operating loss, however, only posting a loss of $600,109 for the quarter.
3. Fuse posted a net loss of $510,998 for the quarter, down from $734,967 last year.
4. Despite the lost revenue, Fuse's gross profits only decreased by 2.96 percent from $2.88 million to $2.80 million.
Fuse CEO Christopher Reeg said, "Our focus first quarter was to expand product development in our spine and orthopedic implant offerings, for which we expect to see continued growth and acceptance throughout the second quarter with significant ramp-up in the last half of 2019."