Here are 10 things to know:
1. Total revenue for the second quarter was up 19.4 percent to $41.5 million.
2. Exclusive technology products revenue grew 25.8 percent in the second quarter to $38.2 million.
3. United States revenue increased 26.4 percent to $33.3 million while international revenue dropped 2.3 percent to $8.2 million during the quarter.
4. The exclusive cervical products revenue was up 36.5 percent in the second quarter to $28.6 million. The growth is partially due to Mobi-C cervical disc sales growth.
5. LDR’s lumbar products also grew 2 percent in the quarter to $9.6 million. The VerteBRIDGE fusion product sales grew for both lumbar and cervical spine lines.
6. Gross profits for the quarter were $34.7 million and the gross margin was 83.6 percent. There was an improvement in the gross margin due to geographic mix and better freight rate management.
7. The company’s net loss for the quarter was $5.8 million, or $0.22 per share. This is up from $2.3 million net loss in the same period last year.
8. The adjusted EBITDA for the second quarter was -$700,000, compared with $700,000 over the same period last year.
9. LDR raised its expected revenue growth for the full year 19 percent to 20 percent, before the foreign exchange impact, to hit $168.1 million to $169.5 million.
10. At the end of the second quarter, LDR had $62.6 million in cash and cash equivalents and $74.4 in working capital. The company was $24.2 in debt.
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