Conformis sees $16M net loss in Q1: 5 notes

Orthopedic

Orthopedic devicemaker Conformis posted first-quarter revenue of $15.6 million and an 18 percent increase in hip sales. It also saw an increased net loss.

Five things to know:

1. Total revenue rose 12 percent year over year.

2. Conformis' hip system revenue reached $0.8 million, an 18 percent year-over-year jump.

3. The company saw an increased net loss of $16 million. In 2021, first-quarter net loss was $11.5 million.

4. An increase of product revenue was credited to "modest recovery" in elective procedures compared to the same time last year.

5. The company expects second-quarter revenue to be $14.5 million-$15.5 million, and full-year revenue is expected to be $75 million-$81 million.

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