Overview

• Allurion Q3 revenue of $2.7 mln beats analyst expectations despite a year-over-year decline

• Company reduced operating expenses by 29% and operating loss by 22% year-over-year

• Allurion exchanged debt for convertible preferred equity and secured $5 mln private placement

Outlook

• Company did not provide specific financial guidance for future quarters or the full year

Result Drivers

• REVENUE DECLINE - Year-over-year revenue decrease due to distributor transitions and lower sales and marketing investments post-restructuring

• COST REDUCTION - Operating expenses and losses reduced significantly due to restructuring initiatives

• BALANCE SHEET STRENGTHENING - Debt exchanged for convertible preferred equity and $5 mln private placement secured

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the software peer group is "buy"

• Wall Street's median 12-month price target for Allurion Technologies Inc is $6.00, about 75.2% above its November 11 closing price of $1.49

Press Release: ID:nBw1Nxwwha

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)