Surgalign's gross profit and revenue decreased in the first quarter of this year compared to the same period last year.
Five takeaways from the company's first quarter financial report, which was released May 10:
1. Global spine revenue in the first quarter of 2021 was $23.3 million, a decrease from $27.1 million in the same time last year.
2. Gross profit was $17.1 million. That's 73 percent of revenue compared to profits in the first quarter of 2020.
3. The company's adjusted EBITDA loss was $9.8 million, compared to $20.1 million in the first quarter of 2020.
4. The first quarter's milestones included naming Marc Mackey as executive vice president of digital surgery and filing the initial FDA 510(k) submission for the Holo Surgical guidance system.
5. Surgalign expects its full year revenue to grow 5 percent to 10 percent from $102 million, according to its outlook.