Implanet reported a slight increase in revenue for the first half of 2017.
Here are seven things to know:
1. Implanet reported six-month revenue increased 1 percent over the same period last year, driven by a 19 percent increase in spine revenue. The cost of products sold jumped 4 percent over the past year.
2. Jazz implant sales drove the increase in revenue for the first half of the year. The spine segment now accounts for 58 percent of the company's total revenue, offsetting expected decreases in the knee and arthroscopy lines.
3. Jazz sales increased 24 percent in France, where the implant is used in 20 percent of pediatric deformity surgeries. Sales in the rest of the world grew 101 percent, driven by distributors and the Jazz launch in Australia and Germany.
4. U.S. Jazz implant sales stabilized, but the company expects to see returned growth within the next few quarters due to the recruitment and training of experienced partners. The company also published additional clinical results on the value of Jazz Bands for axial derotation and sagittal balance restoration.
5. The priority adult degenerative spine disorder segment in France and the U.S. reported 37 percent sales growth over the past six months. The company's gross margin held at 51.1 percent and the company reduced operating losses compared to the same period last year.
6. In the first half of the year, Implanet reduced its cash burden by 21 percent and expects its cash burn to increase in the second half of the year when a loan with Kreos matures in November 2017.
7. There are 137 surgeons now using the Jazz technology in France and the U.S., and the company reported its first direct sales in Germany. The company also achieved FDA 510(k) clearance and European CE mark for the Jazz Frame and Jazz Standalone implants, as well as the Jazz braid.