ReShape Lifesciences Inc. Financials
This page shows ReShape Lifesciences Inc. (RSLS) financial statements, including the 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).
External financing is doing the economic heavy lifting while commercial revenue remains far too small to carry fixed operating costs.
Between FY2024 and FY2025, fundraising rather than customer demand repaired liquidity: financing cash inflow of$8.7M more than covered operating cash burn of$3.7M . That shift moved the balance-sheet posture from a near-term squeeze at 0.1x current ratio to 2.0x and also returned equity to positive territory, so the healthier year-end balance sheet came from capital raised rather than self-funded operations.
This is a development-stage cost structure: FY2025 R&D spending of
The earnings-quality signal is unusual but informative: the reported net loss reached
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of ReShape Lifesciences Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
ReShape Lifesciences Inc. has an operating margin of -3269.3%, meaning the company retains $-3269 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -391.7% the prior year.
ReShape Lifesciences Inc.'s revenue surged 24.4% year-over-year to $320K, reflecting rapid business expansion. This strong growth earns a score of 0/100.
ReShape Lifesciences Inc. carries a low D/E ratio of 0.73, meaning only $0.73 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 87/100, indicating a strong balance sheet with room for future borrowing.
ReShape Lifesciences Inc.'s current ratio of 1.99 indicates adequate short-term liquidity, earning a score of 36/100. The company can meet its near-term obligations, though with limited headroom.
ReShape Lifesciences Inc. generates a -272.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.
ReShape Lifesciences Inc. passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, ReShape Lifesciences Inc. generates $0.37 in operating cash flow (-$3.7M OCF vs -$10.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
ReShape Lifesciences Inc. earns $-71.3 in operating income for every $1 of interest expense (-$10.5M vs $147K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
ReShape Lifesciences Inc. generated $320K in revenue in fiscal year 2025. This represents an increase of 24.4% from the prior year.
ReShape Lifesciences Inc.'s EBITDA was -$10.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 955.7% from the prior year.
ReShape Lifesciences Inc. reported -$10.3M in net income in fiscal year 2025. This represents a decrease of 609.0% from the prior year.
ReShape Lifesciences Inc. earned $-4.86 per diluted share (EPS) in fiscal year 2025. This represents an increase of 99.9% from the prior year.
Cash & Balance Sheet
ReShape Lifesciences Inc. held $5.0M in cash against $0 in long-term debt as of fiscal year 2025.
ReShape Lifesciences Inc. had 6M shares outstanding in fiscal year 2025.
Margins & Returns
ReShape Lifesciences Inc.'s gross margin was 68.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 7.5 percentage points from the prior year.
ReShape Lifesciences Inc.'s operating margin was -3269.3% in fiscal year 2025, reflecting core business profitability. This is down 2877.7 percentage points from the prior year.
ReShape Lifesciences Inc.'s net profit margin was -3209.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2646.4 percentage points from the prior year.
ReShape Lifesciences Inc.'s ROE was -272.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
ReShape Lifesciences Inc. invested $588K in research and development in fiscal year 2025. This represents an increase of 106.1% from the prior year.
RSLS Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $32K | N/A | $35K-97.2% | $1.2M+525.4% | $199K | N/A | $85K-95.7% | $2.0M |
| Cost of Revenue | $15K | N/A | $17K-97.4% | $643K+1356.0% | $44K | N/A | $47K-94.3% | $831K |
| Gross Profit | $17K | N/A | $18K-97.0% | $599K+287.9% | $154K | N/A | $37K-96.7% | $1.1M |
| R&D Expenses | $666K | N/A | $40K-91.7% | $476K+427.3% | $90K | N/A | $67K-83.3% | $399K |
| SG&A Expenses | $478K | N/A | $844K-46.9% | $1.6M+512.8% | $260K | N/A | $247K-63.2% | $670K |
| Operating Income | -$1.1M | N/A | -$8.6M-210.4% | -$2.8M-1288.0% | -$199K | N/A | -$281K+86.3% | -$2.1M |
| Interest Expense | $3K | N/A | $26K | N/A | $55K | N/A | $46K | N/A |
| Income Tax | N/A | N/A | N/A | $8K+14.3% | $7K | N/A | $6K-60.0% | $15K |
| Net Income | -$963K | N/A | -$8.4M-220.7% | -$2.6M-794.6% | -$294K | N/A | -$548K+65.7% | -$1.6M |
| EPS (Diluted) | $-0.15 | N/A | $-3.12-38.7% | $-2.25+99.7% | $-761.59 | N/A | $-1419.10-1449.9% | $-91.56 |
RSLS Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.2M+56.8% | $6.5M-7.8% | $7.0M+333.3% | $1.6M+12.7% | $1.4M+4.5% | $1.4M+8.1% | $1.3M-7.3% | $1.4M |
| Current Assets | $9.2M+68.5% | $5.4M-9.9% | $6.0M+933.0% | $584K | N/A | $302K | N/A | N/A |
| Cash & Equivalents | $8.8M+76.5% | $5.0M-12.7% | $5.7M+1388.6% | $383K | N/A | $102K-86.3% | $743K+6091.7% | $12K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $309-4.9% | $325-98.6% | $23K+6645.2% | $341-100.0% | $700K+30414.4% | $2K-99.8% | $1.3M-7.1% | $1.4M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $2.1M-21.6% | $2.7M-12.5% | $3.1M-52.8% | $6.6M+3006.6% | $213K-96.3% | $5.8M+2865.9% | -$209K-103.9% | $5.4M |
| Current Liabilities | $2.1M-21.6% | $2.7M-12.3% | $3.1M-52.8% | $6.6M | N/A | $5.7M+42.6% | $4.0M+25.7% | $3.2M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $8.0M+113.8% | $3.8M+48.7% | $2.5M+150.7% | -$5.0M-506.0% | $1.2M+128.0% | -$4.4M-395.3% | $1.5M+137.4% | -$4.0M |
| Retained Earnings | -$88.5M-1.1% | -$87.6M-1.4% | -$86.3M-54.1% | -$56.0M+91.3% | -$641.2M-1057.0% | -$55.4M+91.4% | -$640.9M-0.2% | -$639.4M |
RSLS Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.4M+2.9% | -$1.5M+16.5% | -$1.8M-496.0% | -$297K-45.9% | -$204K-6757.6% | -$3K+99.2% | -$374K-120.4% | $1.8M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | $1K+435.0% | $274 | N/A |
| Financing Cash Flow | $5.3M+592.2% | $764K-89.3% | $7.1M+1042.9% | $622K+288.8% | $160K+199.3% | $53K-80.5% | $274K | N/A |
| 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 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 52.7% | N/A | 52.1%+3.9pp | 48.2%-29.5pp | 77.8% | N/A | 43.9%-13.8pp | 57.7% |
| Operating Margin | -3576.8% | N/A | -24761.9%-24539.5pp | -222.4%-122.2pp | -100.2% | N/A | -332.4%-227.9pp | -104.5% |
| Net Margin | -3048.0% | N/A | -24356.2%-24144.4pp | -211.8%-63.7pp | -148.0% | N/A | -648.1%-566.9pp | -81.2% |
| Return on Equity | -12.0% | N/A | -333.4% | N/A | -23.9% | N/A | -36.8% | N/A |
| Return on Assets | -9.4% | N/A | -119.7%+42.0pp | -161.8%-141.4pp | -20.4% | N/A | -42.9%+72.8pp | -115.7% |
| Current Ratio | 4.27+2.3 | 1.99+0.1 | 1.94+1.8 | 0.09 | N/A | 0.05 | N/A | N/A |
| Debt-to-Equity | 0.27-0.5 | 0.73-0.5 | 1.24+2.6 | -1.33-1.5 | 0.17+1.5 | -1.31-1.2 | -0.14+1.2 | -1.35 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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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 income of -$10.3M in fiscal year 2025, with a net profit margin of -3209.7%.
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 operating margin?
ReShape Lifesciences Inc. (RSLS) had an operating margin of -3269.3% in fiscal year 2025, 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 -3209.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
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) generated -$3.7M in operating cash flow during fiscal year 2025, representing cash generated from 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 debt-to-equity ratio?
ReShape Lifesciences Inc. (RSLS) had a debt-to-equity ratio of 0.73 as of fiscal year 2025, 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 -157.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is ReShape Lifesciences Inc.'s cash runway?
Based on fiscal year 2025 data, ReShape Lifesciences Inc. (RSLS) had $5.0M in cash against an annual operating cash burn of $3.7M. This gives an estimated cash runway of approximately 16 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.
What is ReShape Lifesciences Inc.'s Piotroski F-Score?
ReShape Lifesciences Inc. (RSLS) has a Piotroski F-Score of 2 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 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) has an earnings quality ratio of 0.37x, 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.
Can ReShape Lifesciences Inc. cover its interest payments?
ReShape Lifesciences Inc. (RSLS) has an interest coverage ratio of -71.3x, meaning it can struggle to cover its interest obligations. 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.
How financially healthy is ReShape Lifesciences Inc.?
ReShape Lifesciences Inc. (RSLS) scores 21 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.