Six notes:
1. U.S. revenue in the first quarter increased 23 percent year over year to $18.8 million.
2. First-quarter operating expenses rose to $29.8 million, an 11 percent increase compared to the prior year period. The company attributed the spike to higher sales and marketing expenses due to increased hiring, research and development expenses and increased stock-based compensation expense.
3. Net loss for the first quarter was $12.2 million compared to $12.8 million in the first quarter of 2020.
4. As of March 31, cash and marketable securities were $185.1 million, and long-term borrowings were $39.5 million.
5. SI-Bone launched iFuse-Torq, a 3D-printed implant designed for pelvic trauma and minimally invasive sacroiliac joint fusion.
6. Laura Francis, SI-Bone’s former CFO and COO, assumed the role of CEO from Jeff Dunn, who will remain with the company as executive chair.
