NuVasive full year 2014 revenue grew over 2013, and the revenue is expected to grow even higher in 2015.
"As we enter 2015 we remain focused on the consistent execution of our strategy to drive growth and profitability as we look to extend our leadership position further with game-changing minimally disruptive procedural solutions for the spine," says CEO and Chairman Alex Lukianov. "Our ongoing commitment to share-taking in MIS, traditional and international markets — coupled with ever-increasing operating leverage — places us in an excellent position to continue to deliver increasing value to our shareholders."
Here are eight key points from the company's financial report:
1. Full-year revenue in 2014 reached around $761 million, an 11 percent growth over the same period last year. This is higher than the previously announced guidance, which was $755 million.
2. The company's non-GAAP operating margin for the full year is expected to exceed guidance, which is at 16.5 percent.
3. The company expanded internationally, which significantly contributed to growth.
4. In 2015, the company expects to grow revenue 6 percent year-over-year to reach $810 million, continuing toward the NuVasive's goal of becoming a $1 billion company. The $810 million projection includes around $8 million in currency headwinds.
5. The company expects 7.5 percent revenue growth on a constant currency basis, in line with previous expectations.
6. NuVasive is targeting full-year 2015 non-GAAP operating margin expansion of around 250 basis points compared to the full year in 2014.
8. Mr. Lukianov reported the company is, "delivering increased profitability as we drive meaningful operating margin expansion through in sourcing manufacturing, improved asset efficiencies and scaling our international business."