ReShape Lifesciences Inc. Financials

RSLS

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows ReShape Lifesciences Inc. (RSLS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Weak

3/9

ReShape Lifesciences Inc. passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.62x

For every $1 of reported earnings, ReShape Lifesciences Inc. generates $0.62 in operating cash flow (-$4.4M OCF vs -$7.1M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

Export CSV

Revenue

$8.0M

YoY-7.7%

5Y CAGR+19.5%

10Y CAGR+8.5%

ReShape Lifesciences Inc. generated $8.0M in revenue in fiscal year 2024. This represents a decrease of 7.7% from the prior year.

EBITDA

-$7.7M

YoY+49.4%

ReShape Lifesciences Inc.'s EBITDA was -$7.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 49.4% from the prior year.

Free Cash Flow

N/A

Net Income

-$7.1M

YoY+37.4%

ReShape Lifesciences Inc. reported -$7.1M in net income in fiscal year 2024. This represents an increase of 37.4% from the prior year.

EPS (Diluted)

$-13.83

ReShape Lifesciences Inc. earned $-13.83 per diluted share (EPS) in fiscal year 2024. This represents an increase of 87.5% from the prior year.

Cash & Debt

$102K

YoY-97.7%

5Y CAGR-62.7%

10Y CAGR-34.4%

ReShape Lifesciences Inc. held $102K in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

386

ReShape Lifesciences Inc. had 386 shares outstanding in fiscal year 2024. This represents a decrease of 99.9% from the prior year.

Gross Margin

63.2%

YoY-0.8pp

5Y CAGR+53.1pp

10Y CAGR+45.5pp

ReShape Lifesciences Inc.'s gross margin was 63.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 0.8 percentage points from the prior year.

Operating Margin

-96.5%

YoY+80.7pp

5Y CAGR+611.5pp

10Y CAGR+181.5pp

ReShape Lifesciences Inc.'s operating margin was -96.5% in fiscal year 2024, reflecting core business profitability. This is up 80.7 percentage points from the prior year.

Net Margin

-89.1%

YoY+42.2pp

5Y CAGR+632.5pp

10Y CAGR+190.4pp

ReShape Lifesciences Inc.'s net profit margin was -89.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 42.2 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$1.8M

YoY-22.1%

5Y CAGR-23.5%

10Y CAGR-11.0%

ReShape Lifesciences Inc. invested $1.8M in research and development in fiscal year 2024. This represents a decrease of 22.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

RSLS Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$8.0M-7.7%	$8.7M-22.8%	$11.2M-17.4%	$13.6M+20.4%	$11.3M+244.4%	$3.3M
Cost of Revenue	$2.9M-5.8%	$3.1M-29.5%	$4.4M-15.5%	$5.3M+4.3%	$5.0M+70.7%	$3.0M
Gross Profit	$5.1M-8.9%	$5.5M-18.4%	$6.8M-18.5%	$8.3M+33.3%	$6.3M+1791.8%	$331K
R&D Expenses	$1.8M-22.1%	$2.3M-8.8%	$2.5M+7.1%	$2.4M-32.3%	$3.5M-49.3%	$6.9M
SG&A Expenses	$6.9M-8.2%	$7.5M-46.4%	$14.1M+58.5%	$8.9M+89.5%	$4.7M-71.8%	$16.7M
Operating Income	-$7.7M+49.8%	-$15.4M+66.8%	-$46.4M+19.9%	-$57.9M-364.7%	-$12.5M+46.4%	-$23.2M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$39K-25.0%	$52K+113.7%	-$380K-38.7%	-$274K-51.4%	-$181K-1392.9%	$14K
Net Income	-$7.1M+37.4%	-$11.4M+75.4%	-$46.2M+26.8%	-$63.1M-191.9%	-$21.6M+8.6%	-$23.7M
EPS (Diluted)	$-13.83	$-110.87-1.8%	$-108.90+62.3%	$-288.97	$-5.55	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Revenue	$35K-97.2%	$1.2M+11.6%	$1.1M-43.8%	$2.0M-8.0%	$2.2M-4.4%	$2.3M-1.4%	$2.3M-26.5%	$3.1M
Cost of Revenue	$17K-97.4%	$643K+48.8%	$432K+208.6%	$140K-83.9%	$867K-18.2%	$1.1M-0.3%	$1.1M-29.6%	$1.5M
Gross Profit	$18K-97.0%	$599K-12.0%	$681K-63.0%	$1.8M+43.0%	$1.3M+7.9%	$1.2M-2.5%	$1.2M-23.5%	$1.6M
R&D Expenses	$40K-91.7%	$476K+30.8%	$364K-50.7%	$739K+36.3%	$542K-6.7%	$581K+28.3%	$453K-1.9%	$462K
SG&A Expenses	$844K-46.9%	$1.6M-2.2%	$1.6M+16.4%	$1.4M-21.9%	$1.8M-17.7%	$2.2M-0.2%	$2.2M+1.1%	$2.2M
Operating Income	-$8.6M-210.4%	-$2.8M-25.2%	-$2.2M-16.4%	-$1.9M+51.1%	-$3.9M+2.4%	-$4.0M+29.4%	-$5.6M+66.3%	-$16.7M
Interest Expense	$26K	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$4K-50.0%	$8K+14.3%	$7K-77.4%	$31K+933.3%	$3K-25.0%	$4K-71.4%	$14K+125.0%	-$56K
Net Income	-$8.4M-220.7%	-$2.6M-278.4%	$1.5M+186.8%	-$1.7M+52.0%	-$3.5M-1.2%	-$3.5M-31.2%	-$2.7M+83.8%	-$16.5M
EPS (Diluted)	$-3.12-38.7%	$-2.25	$18.98	$-48.87	$-59.36	$-1.08+30.8%	$-1.56	$-35.57

RSLS Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$1.4M-87.0%	$10.7M-4.3%	$11.1M-78.8%	$52.5M+41.7%	$37.1M+81.7%	$20.4M
Current Assets	$302K-97.1%	$10.3M+3.9%	$9.9M-66.9%	$29.9M+234.7%	$8.9M-51.0%	$18.2M
Cash & Equivalents	$102K-97.7%	$4.5M+15.7%	$3.9M-83.1%	$22.8M+669.9%	$3.0M-79.0%	$14.1M
Inventory	$2.5M-34.2%	$3.7M+3.6%	$3.6M+20.2%	$3.0M+33.8%	$2.2M+15.9%	$1.9M
Accounts Receivable	$2K-99.9%	$1.7M	N/A	N/A	N/A	$285K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$5.8M-65.7%	$16.8M+125.1%	$7.5M-8.7%	$8.2M-63.7%	$22.6M+707.8%	-$3.7M
Current Liabilities	$5.7M+52.0%	$3.8M-49.5%	$7.5M-0.7%	$7.5M-35.1%	$11.6M+191.8%	$4.0M
Long-Term Debt	N/A	N/A	N/A	N/A	$9.2M	$0
Total Equity	-$4.4M+28.9%	-$6.2M-268.6%	$3.7M-91.7%	$44.3M+206.0%	$14.5M-39.9%	$24.1M
Retained Earnings	-$55.4M+91.3%	-$635.6M-1.8%	-$624.2M-8.0%	-$578.0M-12.3%	-$514.8M-198.6%	-$172.4M

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Total Assets	$7.0M+333.3%	$1.6M-74.9%	$6.5M-39.2%	$10.7M+36.2%	$7.8M-34.0%	$11.9M-27.5%	$16.4M+46.8%	$11.1M
Current Assets	$6.0M+933.0%	$584K-90.7%	$6.3M-38.9%	$10.3M+39.2%	$7.4M-29.8%	$10.5M-30.8%	$15.2M+53.7%	$9.9M
Cash & Equivalents	$5.7M+1388.6%	$383K-84.8%	$2.5M-43.6%	$4.5M+207.7%	$1.4M-68.3%	$4.6M-49.2%	$9.0M+133.0%	$3.9M
Inventory	$2.5M-3.6%	$2.6M+0.8%	$2.5M-32.3%	$3.7M+16.8%	$3.2M-2.0%	$3.3M-6.4%	$3.5M-3.3%	$3.6M
Accounts Receivable	$23K+6645.2%	$341-100.0%	$700K-58.8%	$1.7M	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$3.1M-52.8%	$6.6M+26.0%	$5.3M-68.8%	$16.8M+254.9%	$4.7M-7.2%	$5.1M-40.5%	$8.6M+14.9%	$7.5M
Current Liabilities	$3.1M-52.8%	$6.6M+60.1%	$4.1M+9.2%	$3.8M-15.5%	$4.5M+1.5%	$4.4M-42.1%	$7.6M+1.6%	$7.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$2.5M+150.7%	-$5.0M-506.0%	$1.2M+119.9%	-$6.2M-300.3%	$3.1M-54.2%	$6.7M-13.1%	$7.8M+111.9%	$3.7M
Retained Earnings	-$86.3M-54.1%	-$56.0M+91.3%	-$641.2M-0.9%	-$635.6M-0.3%	-$633.9M-0.6%	-$630.3M-0.6%	-$626.8M-0.4%	-$624.2M

RSLS Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$4.4M+73.9%	-$17.0M+22.6%	-$21.9M-42.5%	-$15.4M-79.8%	-$8.6M+62.6%	-$22.9M
Capital Expenditures	N/A	$43K-67.2%	$131K-62.8%	$352K+105.8%	$171K-11.9%	$194K
Free Cash Flow	N/A	-$17.0M+22.8%	-$22.0M-40.1%	-$15.7M-80.3%	-$8.7M+62.2%	-$23.1M
Investing Cash Flow	N/A	-$10K+89.1%	-$92K-105.0%	$1.9M+177.6%	-$2.4M-201.4%	$2.4M
Financing Cash Flow	$677K-96.1%	$17.6M+461.5%	$3.1M-90.6%	$33.3M+200.7%	$11.1M-17.2%	$13.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Operating Cash Flow	-$1.8M-209.4%	$1.6M+176.4%	-$2.1M+13.8%	-$2.5M+11.6%	-$2.8M+58.3%	-$6.7M-31.6%	-$5.1M-78.9%	-$2.8M
Capital Expenditures	N/A	N/A	N/A	$0	$0-100.0%	$36K+414.3%	$7K-91.1%	$79K
Free Cash Flow	N/A	N/A	N/A	-$2.5M+11.6%	-$2.8M+58.5%	-$6.7M-32.2%	-$5.1M-74.3%	-$2.9M
Investing Cash Flow	$274	N/A	N/A	$0	$0+100.0%	-$3K+57.1%	-$7K+91.1%	-$79K
Financing Cash Flow	$7.1M+324.6%	-$3.2M-180.2%	$3.9M-27.7%	$5.5M+1715.7%	-$338K-115.0%	$2.3M-77.9%	$10.2M+1498.9%	$638K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

RSLS Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	63.2%-0.8pp	63.9%+3.4pp	60.5%-0.9pp	61.4%+6.0pp	55.4%+45.3pp	10.1%
Operating Margin	-96.5%+80.7pp	-177.3%+235.1pp	-412.4%+13.2pp	-425.6%-315.4pp	-110.3%+597.8pp	-708.0%
Net Margin	-89.1%+42.2pp	-131.2%+279.9pp	-411.2%+53.1pp	-464.3%-272.9pp	-191.4%+530.2pp	-721.6%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-516.1%-409.3pp	-106.8%+308.0pp	-414.8%-294.6pp	-120.2%-61.8pp	-58.4%+57.7pp	-116.1%
Current Ratio	0.05-2.7	2.73+1.4	1.32-2.7	3.98+3.2	0.77-3.8	4.59
Debt-to-Equity	-1.31+1.4	-2.73-4.8	2.04+1.9	0.18-0.4	0.63+0.6	0.00
FCF Margin	N/A	-195.9%+0.1pp	-196.0%-80.4pp	-115.6%-38.5pp	-77.2%+625.6pp	-702.8%

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Gross Margin	52.1%+3.9pp	48.2%-13.0pp	61.2%-31.8pp	92.9%+33.2pp	59.8%+6.8pp	53.0%-0.6pp	53.5%+2.1pp	51.4%
Operating Margin	-24761.9%-24539.5pp	-222.4%-24.2pp	-198.2%-102.5pp	-95.7%+84.4pp	-180.1%-3.6pp	-176.4%+69.8pp	-246.2%+290.5pp	-536.8%
Net Margin	-24356.2%-24144.4pp	-211.8%-344.2pp	132.4%+218.1pp	-85.7%+78.3pp	-164.0%-9.0pp	-155.0%-38.6pp	-116.4%+413.1pp	-529.5%
Return on Equity	N/A	N/A	119.8%	N/A	N/A	N/A	N/A	N/A
Return on Assets	-119.7%+42.0pp	-161.8%-184.5pp	22.7%+38.7pp	-15.9%+29.2pp	-45.1%-15.7pp	-29.5%-13.2pp	-16.3%+131.5pp	-147.8%
Current Ratio	1.94+1.8	0.09-1.4	1.53-1.2	2.73+1.1	1.66-0.7	2.39+0.4	2.00+0.7	1.32
Debt-to-Equity	1.24+2.6	-1.33-5.6	4.27+7.0	-2.73-4.3	1.54+0.8	0.76-0.3	1.11-0.9	2.04
FCF Margin	N/A	N/A	N/A	-124.0%+5.0pp	-129.0%+168.2pp	-297.2%-75.6pp	-221.6%-128.1pp	-93.5%

Note: Shareholder equity is negative (-$4.4M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.05), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

$8.6M

$9.5M

$6.7M

$1.6M

HeartSciences Inc HSCS

$9.3M

Frequently Asked Questions

What is ReShape Lifesciences Inc.'s annual revenue?

ReShape Lifesciences Inc. (RSLS) reported $8.0M in total revenue for fiscal year 2024. This represents a -7.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is ReShape Lifesciences Inc.'s revenue growing?

ReShape Lifesciences Inc. (RSLS) revenue declined by 7.7% year-over-year, from $8.7M to $8.0M in fiscal year 2024.

Is ReShape Lifesciences Inc. profitable?

No, ReShape Lifesciences Inc. (RSLS) reported a net income of -$7.1M in fiscal year 2024, with a net profit margin of -89.1%.

What is ReShape Lifesciences Inc.'s earnings per share (EPS)?

ReShape Lifesciences Inc. (RSLS) reported diluted earnings per share of $-13.83 for fiscal year 2024. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is ReShape Lifesciences Inc.'s EBITDA?

ReShape Lifesciences Inc. (RSLS) had EBITDA of -$7.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is ReShape Lifesciences Inc.'s gross margin?

ReShape Lifesciences Inc. (RSLS) had a gross margin of 63.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is ReShape Lifesciences Inc.'s operating margin?

ReShape Lifesciences Inc. (RSLS) had an operating margin of -96.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is ReShape Lifesciences Inc.'s net profit margin?

ReShape Lifesciences Inc. (RSLS) had a net profit margin of -89.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is ReShape Lifesciences Inc.'s operating cash flow?

ReShape Lifesciences Inc. (RSLS) generated -$4.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are ReShape Lifesciences Inc.'s total assets?

ReShape Lifesciences Inc. (RSLS) had $1.4M in total assets as of fiscal year 2024, including both current and long-term assets.

How much does ReShape Lifesciences Inc. spend on research and development?

ReShape Lifesciences Inc. (RSLS) invested $1.8M in research and development during fiscal year 2024.

How many shares does ReShape Lifesciences Inc. have outstanding?

ReShape Lifesciences Inc. (RSLS) had 386 shares outstanding as of fiscal year 2024.

What is ReShape Lifesciences Inc.'s current ratio?

ReShape Lifesciences Inc. (RSLS) had a current ratio of 0.05 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is ReShape Lifesciences Inc.'s debt-to-equity ratio?

ReShape Lifesciences Inc. (RSLS) had a debt-to-equity ratio of -1.31 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is ReShape Lifesciences Inc.'s return on assets (ROA)?

ReShape Lifesciences Inc. (RSLS) had a return on assets of -516.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is ReShape Lifesciences Inc.'s cash runway?

Based on fiscal year 2024 data, ReShape Lifesciences Inc. (RSLS) had $102K in cash against an annual operating cash burn of $4.4M. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Why is ReShape Lifesciences Inc.'s debt-to-equity ratio negative or unusual?

ReShape Lifesciences Inc. (RSLS) has negative shareholder equity of -$4.4M as of fiscal year 2024, which causes the debt-to-equity ratio to appear negative or not meaningful. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is ReShape Lifesciences Inc.'s Piotroski F-Score?

ReShape Lifesciences Inc. (RSLS) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are ReShape Lifesciences Inc.'s earnings high quality?

ReShape Lifesciences Inc. (RSLS) has an earnings quality ratio of 0.62x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.