SpineGuard reported 2018 third quarter revenue growth, driven by the U.S. market.
Here are five things to know:
1. SpineGuard reported $2.2 million in third quarter revenue, a 5 percent increase over the same period last year. U.S. revenue was up 8 percent.
2. Despite the third quarter growth, overall nine-month revenue dropped 8 percent compared to the same period last year with a 2 percent growth in the U.S.
3. The company sold 6,226 DSG units during the first nine months of the year, with 63 percent being in the U.S. DSG unit sales were up 2.8 percent worldwide and up 3.4 percent in the U.S.
4. China and Saudi Arabia ordered more than 200 units during the third quarter that were not recognized in the third quarter report.
5. The company reached its goal of 200 surgeries with the DSG equipped smart screw, and the company is still committed to reaching operational profitability by the end of the year.