SeaSpine 2018 revenue up 9% to $143.4M: 5 things to know

Laura Dyrda -   Print  |

SeaSpine reported big increases in fourth quarter and full-year revenue for 2018, including in both U.S. orthobiologics and spine business lines.

 Five things to know:

1. Fourth quarter revenue jumped 12 percent to $38 million, driven by a 9 percent increase in U.S. revenue to $34 million. The company reported U.S. orthobiologics was up 10 percent year over year to $18.2 million and U.S. spinal implants increased 8 percent to $15.8 million.

2. In October, SeaSpine raised $54 million in net proceeds from an underwritten public offering of 3.7 million shares.

3. Net loss hit $9.5 million for the fourth quarter, up from $7.5 million over the same period last year. For the full year, net loss was $33.5 million.

4. Full year revenue was up 9 percent to $143.4 million, and U.S. revenue increased 8 percent for the full year to $127.9 million. Spinal implant revenue was up 9 percent to $68.1 million for the full year.

5. In 2019, SeaSpine expects full-year revenue to grow 6 percent to 9 percent, hitting $152 million to $156 million.

More articles on orthopedic devices:
How Medtronic's focus on innovation has become the foundation for growth in spine, beyond
Is an acquisition in NuVasive's future? CEO Chris Barry on sale rumors, new spine robot
21 spine devices receive FDA 510(k) clearance in January

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