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K2M reports Q1 2017 revenue of $61.9M — 11 highlights Featured

Written by  Megan Wood | Tuesday, 02 May 2017 21:21
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K2M reported results for the first fiscal quarter, ending March 31.

Here are 11 insights:

 

1. The company's total first quarter revenue hit $61.9 million, reflecting a 9.9 percent increase year-over-year.

 

2. K2M's domestic first quarter revenue totaled $46.2 million, up 9.5 percent year-over-year.

 

3. The company's U.S. complex spine business grew 7.6 percent year-over-year.

 

4. U.S. minimally invasive surgery business grew 14.4 percent year-over-year.

 

5. K2M's U.S. degenerative business saw a 9.4 percent jump year-over-year.

6. In the first quarter, international revenue hit $15.7 million, reflecting an 11.1 percent increase year-over-year.

 

7. K2M reported a net loss of $10.9 million for the first quarter of 2017, compared to $10.2 million in the first quarter of 2016.

 

7. The company's adjusted EBITDA was $300,000 for the first quarter, compared to $1.1 million in the first quarter of 2016.

 

8. In February, K2M unveiled its Balance ACS platform, which leverages 3-D dimensional solutions across the continuum of care for spine surgery patients.

 

9. In April, K2M teamed up with LifeHealthcare Group for a distribution agreement in Australia and New Zealand.

10. Also in April, K2M received product registrations in Japan for the MESA and EVEREST lines.

 

11. K2M reaffirms its fiscal year 2017 guidance expectations. It expects total revenue between $263 million and $270 million.

 

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