Globus Medical US spine sales jump 22% in Q1: 4 notes

Alan Condon -   Print  |

Globus Medical reported $227.3 million in first-quarter global spine sales, a year-over-year increase of 19.3 percent, with U.S. spine sales rising 22 percent to $193.3 million.

Four notes:

1. Robotic pull-through, product launches, a resurgence in the biologic business, and competitive recruiting contributed to growth in the first quarter, the company said in a May 4 news release.

2. First-quarter net income was $45.3 million, a 74.7 percent year-over-increase from $25.9 million in the first quarter of 2020.

3. CEO Dave Demski said "enabling technologies revenue increased 86 percent, as surgeon recognition of the clinical superiority of our robotic technology produced back-to-back quarters of strong year-over-year growth."

4. As of March 31, cash, cash equivalents and marketable securities were $838.4 million.

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