RTI Surgical posts $82.3M in Q2 revenue: 6 things to know

Spinal Tech

RTI Surgical's worldwide revenues increased 16 percent from $70.7 million in the same period last year to $82.3 million in the second quarter of 2019.

Six things to know:

1. RTI's second-quarter revenues were boosted from a $10.1 million global contribution made from the acquisition of Paradigm Spine, which closed in March.

2. Gross profit in the second quarter was $44.7 million, which made up 54.4 percent of revenues. Profit increased 49 percent compared to the $30 million posted in the second quarter of 2018.

3. Net income applicable to common shareholders was $700,000 or $0.01 per fully diluted common share. This was an increase from the $6.4 million in net losses in the second quarter of 2018.

4. Second-quarter adjusted EBITDA was $9.9 million, which was 12 percent of revenue.

5. The company maintained its full-year revenue estimates of $325 million to $335 million.

"We're very pleased with the double-digit topline growth of our legacy spine hardware portfolio, particularly as we work to establish a new sales channel to drive the growth of our Novel Therapies portfolio, which includes coflex," said RTI Surgical President and CEO Camille Farhat.

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