On this page of StockholderLetter.com we present the latest annual shareholder letter from ProSomnus, Inc. — ticker symbol OSA. Reading current and past OSA letters to shareholders can bring important insights into the investment thesis.
2022 No mask, no scalpel, simply better sleep breathing. Annual Report
Patient Preferred OSA Therapy Fellow Shareholders, ProSomnus made meaningful commercial, operational, financial, and strategic progress in 2022 toward realizing our vision of being the leading solution for the treatment and management of Obstructive Sleep Apnea. Record demand for our differentiated, precision medical devices summed up our commercial progress. ProSomnus generated revenues of $19.4 million in 2022, representing 38% growth an estimated 6x faster than the industry. Feedback cards (n = 8,850) indicated that 97% of patients and providers were satisfied, and 100% would recommend ProSomnus. Operations rapidly scaled-up manufacturing capacity while expanding gross margins and maintaining our best-in-class service levels. ProSomnus delivered industry leading 98% initial quality and 96% total quality over their three-year treatment lifecycles. And we successfully relocated manufacturing to our new, state-of-the-art facility, quintupling our capacity potential in preparation for future growth. From a finance perspective, we proudly listed ProSomnus on Nasdaq in 2022 under the ticker OSA . Our public company transaction strengthened our balance sheet and facilitated access to the resources necessary to fuel ProSomnus growth and competitive advantages. ProSomnus also made headway on our key growth initiatives. We achieved important development milestones for our next-generation sensor device. Several studies published in 2022 added to the existing body of evidence associating our devices with excellent, patient preferred outcomes. And we initiated enrollment in our Severe OSA ( SOS ) study, designed to support FDA label expansion. 2022 was a transformational year for ProSomnus. I am pleased with our many accomplishments, the incredible contributions of our employees, and progress made toward helping more people breathe better during sleep, every night. Thank you for your support, Len Liptak Chief Executive Officer
 • shareholder letter icon 5/5/2023 Letter Continued (Full PDF)


OSA Shareholder/Stockholder Letter Transcript:

2022
No mask, no scalpel,
simply better sleep breathing.
Annual
Report

Patient Preferred
OSA Therapy   
Fellow Shareholders,
ProSomnus made meaningful commercial, operational,
financial, and strategic progress in 2022 toward realizing
our vision of being the leading solution for the treatment
and management of Obstructive Sleep Apnea.
Record demand for our differentiated, precision medical devices summed up our commercial progress.
ProSomnus generated revenues of $19.4 million in 2022, representing 38% growth     an estimated 6x faster
than the industry. Feedback cards (n = 8,850) indicated that 97% of patients and providers were satisfied,
and 100% would recommend ProSomnus.
Operations rapidly scaled-up manufacturing capacity while expanding gross margins and maintaining
our best-in-class service levels. ProSomnus delivered industry leading 98% initial quality and 96% total
quality over their three-year treatment lifecycles. And we successfully relocated manufacturing to our new,
state-of-the-art facility, quintupling our capacity potential in preparation for future growth.
From a finance perspective, we proudly listed ProSomnus on Nasdaq in 2022 under the ticker    OSA   .
Our public company transaction strengthened our balance sheet and facilitated access to the resources
necessary to fuel ProSomnus    growth and competitive advantages.
ProSomnus also made headway on our key growth initiatives. We achieved important development
milestones for our next-generation sensor device. Several studies published in 2022 added to the existing
body of evidence associating our devices with excellent, patient preferred outcomes. And we initiated
enrollment in our Severe OSA (   SOS   ) study, designed to support FDA label expansion.
2022 was a transformational year for ProSomnus. I am pleased with our many accomplishments,
the incredible contributions of our employees, and progress made toward helping more people breathe
better during sleep, every night.
Thank you for your support,
Len Liptak
Chief Executive Officer



shareholder letter icon 5/5/2023 Letter Continued (Full PDF)
 

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