CapsoVision Reports Second Quarter 2025 Financial Results
CapsoVision (NASDAQ: CV), a medical technology company specializing in AI-enabled capsule endoscopy solutions, reported strong Q2 2025 results with revenue of $3.3 million, up 17% year-over-year. The company achieved significant milestones, including a 75% growth in new accounts and reaching over 143,000 patients using CapsoCam Plus.
Key developments include submitting a 510(k) notification to FDA for CapsoCam Colon in June 2025 and completing an IPO in July 2025 that raised $23.4 million in net proceeds. The company reported a gross margin of 55% and operating expenses of $6.5 million, showing a decrease from Q2 2024 due to completed clinical trials.
CapsoVision (NASDAQ: CV), una società di tecnologia medica specializzata in soluzioni di videocapsula endoscopica con intelligenza artificiale, ha riportato solidi risultati nel secondo trimestre 2025 con ricavi di 3,3 milioni di dollari, in aumento del 17% su base annua. L'azienda ha raggiunto traguardi significativi, tra cui una crescita del 75% dei nuovi conti e oltre 143.000 pazienti che hanno utilizzato CapsoCam Plus.
I principali sviluppi includono la presentazione, a giugno 2025, di una notifica 510(k) alla FDA per CapsoCam Colon e il completamento, a luglio 2025, di un IPO che ha raccolto 23,4 milioni di dollari di proventi netti. La società ha registrato un margine lordo del 55% e spese operative di 6,5 milioni di dollari, in diminuzione rispetto al secondo trimestre 2024 grazie al completamento di studi clinici.
CapsoVision (NASDAQ: CV), una compañía de tecnología médica especializada en soluciones de endoscopia por cápsula con IA, informó sólidos resultados del segundo trimestre de 2025 con ingresos de 3,3 millones de dólares, un aumento del 17% interanual. La empresa logró hitos importantes, incluyendo un crecimiento del 75% en nuevas cuentas y más de 143.000 pacientes que han usado CapsoCam Plus.
Entre los avances clave figura la presentación en junio de 2025 de una notificación 510(k) a la FDA para CapsoCam Colon y la culminación en julio de 2025 de una OPV que recaudó 23,4 millones de dólares en ingresos netos. La compañía reportó un margen bruto del 55% y gastos operativos de 6,5 millones de dólares, mostrando una disminución respecto al segundo trimestre de 2024 debido a la finalización de ensayos clínicos.
CapsoVision (NASDAQ: CV)은(는) 인공지능 기반 캡슐 내시경 솔루션을 전문으로 하는 의료기술 회사로, 2025년 2분기에 330만 달러의 매출을 기록하며 전년 동기 대비 17% 성장한 견조한 실적을 발표했습니다. 회사는 신규 계정 75% 증가와 CapsoCam Plus를 사용한 143,000명 이상의 환자 달성 등 중요한 성과를 이뤘습니다.
주요 진행 사항으로는 2025년 6월 CapsoCam Colon에 대해 FDA에 510(k) 통지서 제출과 2025년 7월 순수익 2,340만 달러를 조달한 IPO 완료가 있습니다. 회사는 55%의 총이익률과 650만 달러의 영업비용을 보고했으며, 임상시험 완료로 2024년 2분기 대비 비용이 감소했습니다.
CapsoVision (NASDAQ: CV), une société de technologie médicale spécialisée dans les solutions d'endoscopie par capsule avec IA, a annoncé de solides résultats pour le deuxième trimestre 2025 avec un chiffre d'affaires de 3,3 millions de dollars, en hausse de 17% en glissement annuel. L'entreprise a atteint des étapes importantes, notamment une augmentation de 75% des nouveaux comptes et plus de 143 000 patients ayant utilisé CapsoCam Plus.
Parmi les avancées clés figurent le dépôt, en juin 2025, d'une notification 510(k) auprès de la FDA pour CapsoCam Colon et l'achèvement, en juillet 2025, d'une introduction en bourse ayant rapporté 23,4 millions de dollars de produits nets. La société a déclaré une marge brute de 55% et des charges d'exploitation de 6,5 millions de dollars, en diminution par rapport au T2 2024 en raison de la clôture d'essais cliniques.
CapsoVision (NASDAQ: CV), ein Medizintechnikunternehmen, das sich auf KI-gestützte Kapselendoskopie-Lösungen spezialisiert hat, meldete starke Ergebnisse für das zweite Quartal 2025 mit Umsatzerlösen von 3,3 Millionen US-Dollar, ein Anstieg von 17% gegenüber dem Vorjahr. Das Unternehmen erreichte wichtige Meilensteine, darunter ein Wachstum neuer Konten um 75% und über 143.000 Patienten, die CapsoCam Plus nutzen.
Zu den wichtigsten Entwicklungen zählt die Einreichung einer 510(k)-Meldung bei der FDA für CapsoCam Colon im Juni 2025 sowie der Abschluss eines Börsengangs im Juli 2025, der 23,4 Millionen US-Dollar Nettoerlös einbrachte. Das Unternehmen wies eine Bruttomarge von 55% und Betriebskosten von 6,5 Millionen US-Dollar aus, die aufgrund abgeschlossener klinischer Studien gegenüber Q2 2024 zurückgingen.
- Revenue growth of 17% year-over-year to $3.3 million
- New accounts grew 75% compared to Q2 2024
- Successful IPO completion raising $23.4 million in net proceeds
- Operating expenses decreased due to completion of clinical trials
- Expanding product pipeline with 510(k) submission for CapsoCam Colon
- Slight gross margin decline from 56% to 55% year-over-year
- Limited cash position of $1.1 million before IPO proceeds
- Operating expenses of $6.5 million significantly exceed revenue
Insights
CapsoVision shows solid 17% revenue growth and successful IPO, while advancing regulatory pathway for key products.
CapsoVision delivered
The recent FDA 510(k) submission for CapsoCam Colon in June 2025 represents a critical regulatory milestone and potential market expansion opportunity. Colon imaging represents a substantially larger addressable market than small bowel applications, with millions of colonoscopies performed annually. If approved, this less-invasive alternative could capture market share from traditional colonoscopies for specific patient populations.
The company's successful IPO, completed in July 2025 with
Despite the revenue growth, operating expenses remain high at
SARATOGA, Calif., Aug. 14, 2025 (GLOBE NEWSWIRE) -- CapsoVision, Inc. (NASDAQ: CV), a commercial-stage medical technology company developing advanced imaging and AI-enabled capsule endoscopy solutions, today reported financial results for its second quarter ended June 30, 2025.
Recent Highlights
- Second quarter 2025 revenue was
$3.3 million , a17% increase over the second quarter of 2024. - New accounts grew
75% in the second quarter of 2025 over the comparable quarter in 2024. - CapsoCam Plus® used by over 143,000 patients as of June 30, 2025.
- Submitted a 510(k) notification to the FDA for CapsoCam Colon®, a non-invasive capsule for colon imaging, in June 2025.
- Closed initial public offering on July 3, 2025, raising net proceeds of approximately
$23.4 million .
Management Commentary
“Our second quarter performance reflected steady adoption of our CapsoCam Plus for small bowel imaging and increasing physician interest in our capsule endoscopy pipeline,” said Johnny Wang, President and Chief Executive Officer. “Following the achievement of several development milestones, we successfully completed our IPO in July, providing us with the additional capital to accelerate growth and expand into high-impact new indications.
"Looking ahead, submitting and obtaining FDA 510(k) approval for the addition of our proprietary AI module into CapsoCam Plus and continued development and regulatory approval of CapsoCam Colon are both important near-term goals and future growth drivers - enhancing accuracy, easing physician workload, and expanding our market reach. We also expect to advance programs in pancreatic cancer and esophageal varices, where our panoramic imaging offers clear clinical advantages and the potential for earlier detection.
"I am confident that we have the right technology, the right strategy, and the right team to lead the next generation of innovation in GI screening and disease detection,” concluded Wang.
Second Quarter 2025 Financial Results
Total revenue was
Gross profit was
Operating expenses were
Cash and cash equivalents totaled
The Company completed an initial public offering in July 2025. Net proceeds totaled
Conference Call and Webcast
CapsoVision will host a conference call today, August 14, 2025 at 4:30 p.m. Eastern Time to discuss its second quarter financial results. Individuals interested in listening to the conference call may do so by dialing (800) 715-9871 for domestic callers or (646) 307-1963 for international callers and referencing conference ID 1668374, or from the webcast link in the investor relations section of the company's website at www.capsovision.com.
To access the replay, please register via the webcast link on the events page. The webcast will be available in the investor relations section on the company's website for one year following the completion of the call.
About CapsoVision
CapsoVision is a commercial-stage medical technology company focused on developing advanced imaging and AI-enabled solutions to transform the detection and diagnosis of gastrointestinal diseases. Its flagship product, CapsoCam Plus®, is a wire-free, panoramic capsule endoscope that enables high-resolution visualization of the small bowel and supports cloud-based or direct capsule video retrieval. The Company’s next pipeline product, CapsoCam Colon with enhanced AI, is designed to enable non-invasive colon imaging and polyp detection. With a proprietary platform targeted to expand across multiple GI indications, including esophageal and pancreatic disorders, CapsoVision is advancing a new era in capsule-based diagnostics. For more information on CapsoVision, please visit www.capsovision.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expected”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. Examples of these forward-looking statements include, but are not limited to, statements concerning possible or assumed future results of operations and financial position, including the Company’s expectations regarding the Company’s product and clinical development efforts, the timing and receipt of regulatory submissions and approvals, the Company’s plans, strategies and timing for its pipeline development (including plans to address future indications in terms of new GI pathologies and expanded patient populations and related timing of these efforts) and the success of the Company’s plans and strategies. These forward-looking statements are based on the Company’s current expectations and inherently involve significant risks and uncertainties, including those beyond the Company’s control. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, market conditions, the Company’s financial condition and the availability of cash, the failure to receive regulatory clearance and the failure to adapt the Company’s products for new indications. These and other risks and uncertainties are described more fully in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of the Company’s prospectus filed on July 3, 2025 with the SEC, as part of the Company’s Registration Statement on Form S-1 (File No. 333-287148), and the Company’s most recent Form 10-Q. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update or revise these statements, except as required by law.
Investor Relations Contact
Leigh Salvo
New Street Investor Relations
Investors@CapsoVision.com
Media Contact
Leslie Strickler and Paul Spicer
Être Communications
leslies@etrecommunications.com | (804) 240-0807
pauls@etrecommunications.com | (804) 503-9231
| CAPSOVISION, INC. CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) (in thousands, except share and per-share amounts) | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| Net revenue | $ | 3,315 | $ | 2,843 | $ | 6,098 | $ | 5,338 | |||||||
| Costs of revenue | 1,504 | 1,251 | 2,793 | $ | 2,352 | ||||||||||
| Gross profit | 1,811 | 1,592 | 3,305 | 2,986 | |||||||||||
| OPERATING EXPENSES | |||||||||||||||
| Selling and marketing | 1,847 | 1,784 | 3,808 | 3,423 | |||||||||||
| Research and development | 3,392 | 4,222 | 6,499 | 7,482 | |||||||||||
| General and administrative | 1,223 | 857 | 3,031 | 1,561 | |||||||||||
| Total operating expenses | 6,462 | 6,863 | 13,338 | 12,466 | |||||||||||
| Operating loss | (4,651 | ) | (5,271 | ) | (10,033 | ) | (9,480 | ) | |||||||
| NON-OPERATING INCOME | |||||||||||||||
| Interest income, net | 37 | 5 | 43 | 14 | |||||||||||
| Other non-operating income/(expense), net | (11 | ) | — | (10 | ) | 1 | |||||||||
| Total non-operating income, net | 26 | 5 | 33 | 15 | |||||||||||
| Loss before income taxes | (4,625 | ) | (5,266 | ) | (10,000 | ) | (9,465 | ) | |||||||
| Provision for income taxes | — | — | — | — | |||||||||||
| Net loss and comprehensive loss | $ | (4,625 | ) | $ | (5,266 | ) | $ | (10,000 | ) | $ | (9,465 | ) | |||
| Net loss per share – basic and diluted | $ | (2.02 | ) | $ | (2.58 | ) | $ | (4.49 | ) | $ | (4.84 | ) | |||
| Weighted average common shares outstanding – basic and diluted | 2,292,230 | 2,042,111 | 2,225,301 | 1,956,169 | |||||||||||
| CAPSOVISION, INC. CONDENSED BALANCE SHEETS (UNAUDITED) (in thousands, except par value and share amounts) | |||||
| June 30, 2025 | December 31, 2024 | ||||
| ASSETS | |||||
| Current Assets | |||||
| Cash | $ | 1,066 | $ | 9,319 | |
| Accounts receivable, net | 1,854 | 2,001 | |||
| Inventory | 3,042 | 2,629 | |||
| Prepaid expenses and other current assets | 1,837 | 898 | |||
| Total current assets | 7,799 | 14,847 | |||
| Property and equipment, net | 683 | 720 | |||
| Operating lease right-of-use assets | 1,024 | 1,195 | |||
| Other long-term assets | 41 | 41 | |||
| TOTAL ASSETS | $ | 9,547 | $ | 16,803 | |
| LIABILITIES, CONVERTIBLE PREFERRED STOCK, AND STOCKHOLDERS’ DEFICIT | |||||
| Current Liabilities | |||||
| Accounts payable | $ | 1,157 | $ | 749 | |
| Accrued expenses and other current liabilities | 1,588 | 569 | |||
| Deferred revenue | 97 | 132 | |||
| Note payable, current | 1,000 | — | |||
| Operating lease liabilities – current | 379 | 351 | |||
| Total current liabilities | 4,221 | 1,801 | |||
| Operating lease liabilities – long-term | 687 | 887 | |||
| Total liabilities | 4,908 | 2,688 | |||
| Commitments and contingencies - Note 9 | |||||
| Convertible Preferred Stock (each Series: | |||||
| Series A: 17,962,675 shares authorized, 5,394,197 issued and outstanding, and liquidation preference of | $ | 4,850 | $ | 4,850 | |
| Series B: 6,000,000 shares authorized, 1,801,802 issued and outstanding, and liquidation preference of | 4,319 | 4,319 | |||
| Series C: 5,747,127 shares authorized, 880,187 issued and outstanding, and liquidation preference of | 2,550 | 2,550 | |||
| Series C-1: 3,876,405 shares authorized, 848,599 issued and outstanding, and liquidation preference of | 2,515 | 2,515 | |||
| Series D: 2,222,222 shares authorized, 520,519 issued and outstanding, and liquidation preference of | 1,560 | 1,560 | |||
| Series D-1: 6,766,666 shares authorized, 166,833 issued and outstanding, and liquidation preference of | 500 | 500 | |||
| Series D-2: 11,083,333 shares authorized, 2,920,649 issued and outstanding, and liquidation preference of | 8,753 | 8,753 | |||
| Series E: 14,000,000 shares authorized, 4,151,977 issued and outstanding, and liquidation preference of | 15,900 | 15,900 | |||
| Series F-1: 13,043,479 shares authorized, 1,201,203 issued and outstanding, and liquidation preference of | 4,600 | 4,600 | |||
| Series F-2: 12,000,000 shares authorized, 2,498,498 issued and outstanding, and liquidation preference of | 10,400 | 10,400 | |||
| Series G: 5,926,000 shares authorized, 1,779,559 issued and outstanding, and liquidation preference of | 8,000 | 8,000 | |||
| Series G-1: 6,896,552 shares authorized, 2,039,756 issued and outstanding, and liquidation preference of | 9,849 | 9,849 | |||
| Series H: 48,157,821 shares authorized, 14,461,804 issued and outstanding, and liquidation preference of | 69,829 | 69,829 | |||
| Total convertible preferred stock | 143,625 | 143,625 | |||
| Stockholders’ Deficit | |||||||
| Common stock, | 2 | 2 | |||||
| Additional paid-in capital | 1,362 | 838 | |||||
| Accumulated deficit | (140,350 | ) | (130,350 | ) | |||
| Total stockholders’ deficit | (138,986 | ) | (129,510 | ) | |||
| TOTAL LIABILITIES, CONVERTIBLE PREFERRED STOCK, AND STOCKHOLDERS’ DEFICIT | $ | 9,547 | $ | 16,803 | |||
| CAPSOVISION, INC. CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) (in thousands) | |||||||
| Six months ended June 30, | |||||||
| 2025 | 2024 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||
| Net loss | $ | (10,000 | ) | $ | (9,465 | ) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Depreciation and amortization | 107 | 103 | |||||
| Amortization of operating lease right-of-use assets | 171 | 155 | |||||
| Unrealized foreign exchange (gains) losses | (158 | ) | 12 | ||||
| Stock-based compensation | 322 | 28 | |||||
| Bad debt expense | 11 | — | |||||
| Changes in operating assets and liabilities: | |||||||
| Accounts receivable | 167 | 236 | |||||
| Inventory | (413 | ) | (165 | ) | |||
| Prepaid expenses and other current assets | (939 | ) | (106 | ) | |||
| Other long-term assets | — | 3 | |||||
| Accounts payable | 408 | 369 | |||||
| Accrued expenses and other current liabilities | 1,019 | 1,309 | |||||
| Deferred revenue | (35 | ) | 8 | ||||
| Operating lease liabilities | (172 | ) | (123 | ) | |||
| Net cash used in operating activities | $ | (9,512 | ) | $ | (7,636 | ) | |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||||||
| Purchases of property and equipment | (70 | ) | (149 | ) | |||
| Net cash used in investing activities | $ | (70 | ) | $ | (149 | ) | |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||||||
| Proceeds from promissory note issuance | 1,000 | — | |||||
| Proceeds from exercises of options on common stock and warrants | 202 | 72 | |||||
| Net cash provided by financing activities | $ | 1,202 | $ | 72 | |||
| Effect of exchange rate changes on cash | 127 | (27 | ) | ||||
| Net decrease in cash | (8,380 | ) | (7,713 | ) | |||
| Cash at beginning of period | 9,319 | 14,559 | |||||
| Cash at end of period | $ | 1,066 | $ | 6,819 | |||
| SUPPLEMENTAL CASH FLOW DISCLOSURES | |||||||
| Cash paid for income taxes | $ | 7 | $ | 6 | |||
FAQ
What was CapsoVision's (CV) revenue in Q2 2025?
How much did CapsoVision raise in its IPO in July 2025?
What is the status of CapsoVision's CapsoCam Colon product?
How many patients have used CapsoVision's CapsoCam Plus?
What was CapsoVision's gross margin in Q2 2025?
