Revenue more than doubled for CRH Medical (TSX:CRM) in the past nine months ending September 30.
It rose $5 million compared with $2.1 million during the same period last year.
But a 49% increase in operation costs increased the company's net loss to $3 million from $2.3 million.
To reduce its costs and increase cash flow and available working capital, the CRH said it plans to suspend its rapid expansion of new Centers for Colorectal Health. Instead, it plans to increase the use the centres it already has.
The Vancouver company also unveiled a new strategy designed to raise equity market financing. To continue investing in its centres, CRH has secured a US$750,000 line of credit.
The company specializes in technology for the treatment of hemorrhoids, fissures, and colon cancer.
CRH Medical's share price range during the past week: between $0.54 and $0.80; 52-week high: $3.05; 52-week low: $0.64.