K2M sees $62.7M in Q3 revenue: 8 highlights

Written by Megan Wood | November 02, 2017 | Print  |

K2M reported its financial results for the third quarter of 2017.

Here are eight highlights of the third quarter 2017 financial report:

 

1. K2M saw total revenue of $62.7 million, reflecting a 6 percent year-over-year increase.

 

2. The domestic revenue hit $48.5 million, a 5 percent year-over-year increase.

 

3. The company's U.S. complex spine grew 3 percent year-over-year.

 

4. K2M reported U.S. minimally invasive surgery growth of 14 percent year-over-year.

 

5. The U.S. degenerative grew 5 percent year-over-year.

 

6. International revenue totaled $14.2 million, a 6 percent boost year-over-year.

 

7. K2M experienced a net loss of $8.5 million, compared to $7.9 million in the third quarter the year prior.

 

8. The adjusted EBITDA was $0.9 million.

 

Additionally, K2M 's NILE Proximal Fixation Spinal System and YUKON™ OCT Spinal System received FDA clearance in the third quarter. The company also globally launched its EVEREST Minimally Invasive (MI) XTower during this quarter.

 

"We have made significant progress in 2017 toward our goal of introducing new and innovative spinal implant solutions. We have supplemented this organic growth activity with exciting strategic acquisitions of intellectual property for expandable implants and a cervical vertebral body replacement device that is the first and only static corpectomy cage in the world to receive a cervical 510(k) clearance," noted Eric Major, K2M chairman, president and CEO.

 

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