K2M reports 10.9% Q2 revenue increase, $9.1M net loss: 7 things to know

Written by Laura Dyrda | August 02, 2017 | Print  |

K2M reported second quarter revenue increased 10.9 percent to $65.7 million.


Here are seven things to know:


1. The domestic second quarter revenue jumped 12.2 percent to $50.8 million. The segment breakdown includes:


• U.S. complex spine market: 9.7 percent growth
• U.S. minimally invasive surgery market: 25.4 percent growth
• U.S. degenerative market: 9.9 percent growth


2. K2M reported $9.1 million net loss for the quarter, down from $11.1 million over the same period last year.


3. During the second quarter, K2M launched the MESA 2 Cricket in the deformity line and introduced the SAHARA AL Expandable Stabilization. The company also achieved FDA clearance for the MOJAVE PL 3D Expandable Interbody System.


4. Operating expenses hit $51.3 million in the quarter, up 4.9 percent from last year. The increase was driven by a $2.2 million increase in sales and marketing expenses. Loss from operations was $8.1 million.


5. The company's cash and cash equivalents hit $36.5 million and K2M reported $111.3 million in working capital.


6. K2M reported total revenue for the full year is expected at $263 million to $270 million, an 11 percent to 14 percent growth year over year. The company expects continued mid-teens growth in U.S. business for the year. Net loss for 2017 is expected at $31 million to $34 million.


7. K2M hosted the annual Meeting of the Minds in Portugal during the second quarter, bringing together 100 international spine surgeons to discuss treatments and demonstrate its Balance ACS platform.


More articles on orthopedic devices:

Stryker reports 6.1% Q2 growth, installs 26 Mako systems
NuVasive loses COO, CFO and promotes 3 executives amid organizational restructuring
Smith & Nephew, Zimmer Biomet, NuVasive & more: 13 device company key notes

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