K2M reports 14% revenue jump in Q3 ahead of Stryker acquisition: 5 things to know

Written by Laura Dyrda | November 08, 2018 | Print  |

K2M reported $71.3 million in revenue for the third quarter of 2018 in the company's unaudited financial report to the SEC, as published by Seeking Alpha.

 

Here are five things to know:

1. The company reported a 14 percent revenue increase over the third quarter of 2017, hitting $71.3 million in the third quarter of 2018.

2. Net loss for the quarter hit $15.8 million, up from a net loss of $8.4 million in the same time period last year.

3. The company's revenue growth was driven by an increase in both U.S. and international revenue. U.S. revenue jumped 7.4 percent to about $52.5 million while international revenue was up 33 percent to $18.8 million.

4. U.S. revenue breakdown by segment was:

• Complex spine: $20.7 million (3.5 percent increase)
• Minimally invasive: $8.5 million (10.5 percent increase)
• Degenerative: $23.2 million (12 percent increase)

5. The company's shareholders approved its $1.4 billion acquisition by Stryker earlier this month, and they expect the deal to be complete by the end of the year.

More articles on spine surgery:
SeaSpine reports $35.8M, 13% growth in Q3 revenue: 5 details
K2M shareholders approve $1.4B purchase by Stryker: 5 notes
Mazor Robotics Q3 revenue decreases $8.5M – 4 details

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