ReShape Lifesciences, Inc. (RSLS) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the RSLS SEC filings page.
ReShape Lifesciences, Inc. (RSLS) reported $320K in revenue for fiscal year 2025, up 24.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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).
ReShape remains a development-stage business: tiny revenue, R&D above sales, and 2025 balance-sheet improvement funded mainly outside operations.
The shift from negative to positive equity coincided with financing cash flow of$8.7M . With operating cash flow at-$3.7M , the improved balance sheet reflects external funding rather than internally generated cash.
Revenue rose
The current ratio rose from 0.1x to 2.0x between FY2024 and FY2025, indicating materially better near-term balance-sheet flexibility. Reported liquidity equaled 15.9 months of the latest annual operating outflow, but cash generation remained negative; this describes stronger reported liquidity, not a changed operating cash pattern.
Financial Health Signals
ReShape Lifesciences, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
ReShape Lifesciences, Inc. scores -21.58, below the 1.81 distress threshold. The score is pulled down most by an accumulated deficit of $87.6M against total assets of $6.5M. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
ReShape Lifesciences, Inc. passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.
ReShape Lifesciences, Inc. reported a net loss of $10.3M while operations used $3.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.
ReShape Lifesciences, Inc. reported an operating loss of $10.5M against $147K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
ReShape Lifesciences, Inc. generated $32K in revenue in Q1 2026. This represents a decrease of 84.1% from the same quarter a year earlier.
ReShape Lifesciences, Inc.'s EBITDA was -$1.1M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
ReShape Lifesciences, Inc. reported a net loss of $963K in Q1 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative.
Cash & Balance Sheet
ReShape Lifesciences, Inc. held $8.8M in cash as of Q1 2026; no long-term debt figure is on record for that period.
Not reported for Q1 2026.
Not reported for Q1 2026.
Margins & Returns
ReShape Lifesciences, Inc.'s gross margin was 52.7% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 25.1 percentage points from the same quarter a year earlier.
ReShape Lifesciences, Inc.'s quarterly ROE was -12.0% in Q1 2026: one quarter's net income over shareholder equity, not annualized. This is up 11.9 percentage points from the same quarter a year earlier.
Not shown for Q1 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q1 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
ReShape Lifesciences, Inc. invested $666K in research and development in Q1 2026. This represents an increase of 638.3% from the same quarter a year earlier.
Not reported for Q1 2026.
Not reported for Q1 2026.
RSLS Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'25 | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $32K-84.1% | N/A | $35K-59.0% | $1.2M-36.8% | $199K-89.8% | N/A | $85K-96.1% | $2.0M-12.8% |
| Cost of Revenue | $15K-66.2% | N/A | $17K-65.1% | $643K-22.6% | $44K-94.3% | N/A | $47K-94.5% | $831K-21.6% |
| Gross Profit | $17K-89.2% | N/A | $18K-51.3% | $599K-47.2% | $154K-86.7% | N/A | $37K-97.1% | $1.1M-5.0% |
| R&D Expenses | $666K+638.3% | N/A | $40K-40.6% | $476K+19.3% | $90K-81.3% | N/A | $67K-87.7% | $399K-31.3% |
| SG&A Expenses | $478K+83.9% | N/A | $844K+242.1% | $1.6M+137.5% | $260K-74.5% | N/A | $247K-86.2% | $670K-69.2% |
| Operating Income | -$1.1Mn/m | N/A | -$8.6Mn/m | -$2.8Mn/m | -$199Kn/m | N/A | -$281Kn/m | -$2.1Mn/m |
| EBITDA | -$1.1Mn/m | N/A | -$8.6Mn/m | N/A | -$195Kn/m | N/A | -$277K | N/A |
| Interest Expense | $3K-94.8% | N/A | $26K-44.0% | N/A | $55K | N/A | $46K | N/A |
| Income Tax | N/A | N/A | N/A | $8K-46.7% | $7K-50.0% | N/A | $6K+100.0% | $15K+275.0% |
| Net Income | -$963Kn/m | N/A | -$8.4Mn/m | -$2.6Mn/m | -$294Kn/m | N/A | -$548Kn/m | -$1.6Mn/m |
| EPS (Basic) | -$0.15 | N/A | -$3.12 | -$2.25 | -$761.59 | N/A | -$1.42 | -$0.09 |
| EPS (Diluted) | -$0.15 | N/A | -$3.12 | -$2.25 | -$761.59 | N/A | -$1419.10 | -$91.56 |
| Diluted Shares (Avg) | 7M | N/A | 3M | 1M | 386 | N/A | 386 | 17,421 |
RSLS Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'25 | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.2M+605.8% | $6.5M+370.3% | $7.0M+451.2% | $1.6M+17.9% | $1.4M-82.5% | $1.4M-87.0% | $1.3M-83.7% | $1.4M-88.4% |
| Current Assets | $9.2M | $5.4M+1700.5% | $6.0M | $584K | N/A | $302K-97.1% | N/A | N/A |
| Cash & Equivalents | $8.8M | $5.0M+4789.2% | $5.7M+668.1% | $383K+3094.9% | N/A | $102K-97.7% | $743K-48.7% | $12K-99.7% |
| Accounts Receivable | $309-100.0% | $325-85.8% | $23K-98.2% | $341-100.0% | $700K-56.3% | $2K-99.9% | $1.3M | $1.4M |
| Total Liabilities | $2.1M+906.2% | $2.7M-52.6% | $3.1Mn/m | $6.6M+23.7% | $213K-94.2% | $5.8M-65.7% | -$209K-104.4% | $5.4M+4.6% |
| Current Liabilities | $2.1M | $2.7M-52.3% | $3.1M-22.5% | $6.6M+106.3% | N/A | $5.7M+52.0% | $4.0M-9.9% | $3.2M-27.3% |
| Non-Current Liabilities | $0-100.0% | $0-100.0% | $8Kn/m | $17K-99.2% | $1.1M+534.8% | $33K-99.7% | -$4.2M-1639.5% | $2.1M+202.8% |
| Total Equity | $8.0M+553.8% | $3.8Mn/m | $2.5M+70.1% | -$5.0Mn/m | $1.2M-72.9% | -$4.4Mn/m | $1.5M-51.8% | -$4.0M-158.9% |
| Retained Earnings | -$88.5Mn/m | -$87.6Mn/m | -$86.3Mn/m | -$56.0Mn/m | -$641.2Mn/m | -$55.4Mn/m | -$640.9Mn/m | -$639.4Mn/m |
Not reported in any period shown, so not listed: Short-Term Investments, Inventory, Long-Term Investments, Goodwill, Long-Term Debt.
RSLS Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'25 | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.4Mn/m | -$1.5Mn/m | -$1.8Mn/m | -$297K-116.2% | -$204Kn/m | -$3Kn/m | -$374Kn/m | $1.8Mn/m |
| Depreciation & Amortization | $3K-26.1% | N/A | $3K-36.6% | N/A | $4K-41.3% | N/A | $4K | N/A |
| Stock-Based Compensation | $6K-62.0% | N/A | $574K+1694.1% | $12K-81.5% | $15K-79.2% | N/A | $32K-85.2% | $65K-70.0% |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | $1Kn/m | $274n/m | N/A |
| Financing Cash Flow | $5.3M+3205.5% | $764K+1329.0% | $7.1M+2498.8% | $622K | $160K | $53K-99.0% | $274Kn/m | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
RSLS Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'25 | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'24 | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.7%-25.1pp | N/A | 52.1%+8.3pp | 48.2%-9.5pp | 77.8%+17.8pp | N/A | 43.9%-15.9pp | 57.7%+4.7pp |
| Operating Margin | -3576.8% | N/A | -24761.9% | -222.4% | -100.2% | N/A | -332.4% | -104.5% |
| Net Margin | -3048.0% | N/A | -24356.2% | -211.8% | -148.0% | N/A | -648.1% | -81.2% |
| Return on Equity | -12.0%+11.9pp | N/A | -333.4%-296.6pp | N/A | -23.9%+24.5pp | N/A | -36.8%+77.8pp | N/A |
| Return on Assets | -9.4%+10.9pp | N/A | -119.7%-76.9pp | -161.8%-46.1pp | -20.4%+6.3pp | N/A | -42.9%+2.3pp | -115.7%-86.2pp |
| Current Ratio | 4.27 | 1.99+1.9x | 1.94 | 0.09 | N/A | 0.05-2.7x | N/A | N/A |
| Liabilities-to-Equity | 0.27+0.1x | 0.73 | 1.24 | N/A | 0.17-0.6x | N/A | N/A | N/A |
| Asset Turnover | 0.00-0.1x | N/A | 0.00-0.1x | 0.76-0.7x | 0.14-0.1x | N/A | 0.07-0.2x | 1.43+1.2x |
Not reported in any period shown, so not listed: Debt-to-Equity, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| ReShape Lifesciences, Inc. RSLS | FY2025 | $320K | -$10.3M | N/A | $9.4M | — |
| PAVmed Inc. PAVM | FY2025 | $71K | $401K | N/A | $16.4M | — |
| Lifeward Ltd. LFWD | FY2025 | $22.0M | -$19.9M | -90.4% | $16.5M | 48/100 |
| BIOMERICA INC BMRA | FY2026 | $4.5M | -$3.8M | -84.8% | $7.7M | 45/100 |
| HeartSciences Inc. HSCS | FY2026 | $4K | -$9.1M | N/A | $15.4M | — |
Where ReShape Lifesciences, Inc. Ranks
Frequently Asked Questions
What is ReShape Lifesciences, Inc.'s annual revenue?
ReShape Lifesciences, Inc. (RSLS) reported $320K in total revenue for fiscal year 2025. This represents a 24.4% 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 grew by 24.4% year-over-year, from $257K to $320K in fiscal year 2025.
Is ReShape Lifesciences, Inc. profitable?
No, ReShape Lifesciences, Inc. (RSLS) reported a net loss of $10.3M in fiscal year 2025.
What is ReShape Lifesciences, Inc.'s EBITDA?
ReShape Lifesciences, Inc. (RSLS) had EBITDA of -$10.4M in fiscal year 2025, 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 68.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is ReShape Lifesciences, Inc.'s return on equity (ROE)?
ReShape Lifesciences, Inc. (RSLS) has a return on equity of -272.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is ReShape Lifesciences, Inc.'s operating cash flow?
ReShape Lifesciences, Inc. (RSLS) recorded an outflow of $3.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are ReShape Lifesciences, Inc.'s total assets?
ReShape Lifesciences, Inc. (RSLS) had $6.5M in total assets as of fiscal year 2025, including both current and long-term assets.
How much does ReShape Lifesciences, Inc. spend on research and development?
ReShape Lifesciences, Inc. (RSLS) invested $588K in research and development during fiscal year 2025.
What is ReShape Lifesciences, Inc.'s current ratio?
ReShape Lifesciences, Inc. (RSLS) had a current ratio of 1.99 as of fiscal year 2025, which is generally considered healthy.
What is ReShape Lifesciences, Inc.'s liabilities-to-equity ratio?
ReShape Lifesciences, Inc. (RSLS) had a liabilities-to-equity ratio of 0.73 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
What is ReShape Lifesciences, Inc.'s return on assets (ROA)?
ReShape Lifesciences, Inc. (RSLS) had a return on assets of -157.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does ReShape Lifesciences, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, ReShape Lifesciences, Inc. (RSLS) held $5.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $3.7M over that year. Dividing the one by the other, the reported balance equals about 16 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is ReShape Lifesciences, Inc.'s Altman Z-Score?
ReShape Lifesciences, Inc. (RSLS) has an Altman Z-Score of -21.58, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is ReShape Lifesciences, Inc.'s Piotroski F-Score?
ReShape Lifesciences, Inc. (RSLS) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $10.3M while operations used $3.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.
Can ReShape Lifesciences, Inc. cover its interest payments?
ReShape Lifesciences, Inc. (RSLS) reported an operating loss of $10.5M against $147K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.