K2M reported preliminary revenue was up for the fourth quarter and full year in 2014, with significant growth in complex spine.
"These results represent a continuation of our strong performance in fiscal year 2014 — our first as a public company — a year in which we executed on our goal of increasing market penetration and on expansion of our innovative products," said CEO Eric Major. "We remain focused on increasing our share of the $2.6 billion global complex spine and minimally invasive surgery markets and on driving shareholder value creation going forward."
Here are five things to know from K2M's financial report.
1. Fourth quarter revenue is expected at $48.7 million to $49.3 million, which would be a 15 percent to 16 percent year-over-year growth.
2. Domestic revenue in the fourth quarter was reported at $35.4 million to $35.7 million, up 23 percent to 25 percent year-over-year.
3. Fourth quarter revenue for the company's key markets include:
• U.S. complex spine — 20 percent growth
• U.S. minimally invasive — 24 percent growth
• U.S. degenerative — 29 percent growth
4. Full year 2014 revenue grew around 18 percent to $186.1 million to $186.7 million.
5. International fourth quarter revenue was at $13.3 million to $13.6 million.