K2M's 2Q net revenue hits $55.9M-$56.4M, up 19%: 5 things to know

Laura Dyrda -   Print  |

K2M reported second quarter revenue increase in their preliminary report, but the estimated net loss for the quarter is expected to hit $6.5 million to $8.5 million.

Here are five things to know about K2M's financial report:


1. The net loss is down compared with the same period last year, when net loss was $17.7 million. The net loss in the second quarter is less due to higher revenue, favorable foreign currency adjustments on the lower intercompany balance sheet and the strengthening U.S. dollar.


2. The revenue is expected to hit $55.9 million to $56.4 million, which is up about 18 percent to 19 percent year-over-year.


3. The domestic revenue for the second quarter is estimated at $41.2 million to $41.4 million, up 24 percent to 25 percent year-over year.


4. The international revenue is expected to increase 3 percent to 5 percent, hitting $14.7 million to $15 million.


5. The company will continue focusing on the $2.6 billion global complex spine and minimally invasive surgery markets going forward, said CEO Eric Major.


The full financial report will be released on Aug. 4.


More articles on orthopedic devices:
K2M makes proposed common stock offering of 4.5M shares
Mazor appoints vice president of marketing and product management
OrthoSpace enrolls 1st set of patients in IDE study

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies here.

Featured Webinars

Featured Whitepapers