NuVasive net sales up 44.8% in Q2; Pulse platform begins clinical evaluations — 5 notes

Spinal Tech

NuVasive's net sales in the second quarter increased 44.8 percent year over year to $294.8 million, and clinical evaluations of its Pulse spine system got underway in Europe.

Five notes:

1. The spine market continued to stabilize in the second quarter, with NuVasive building on its first-quarter net sales of $271.2 million.

"Our continued investments in the cervical and anterior procedural segments and our international commercial organization are advancing both our near- and long-term growth strategy," CEO Chris Barry said in a July 28 news release.

2. Second-quarter growth was due to recovery from the pandemic "across all procedural segments and continued strong international growth," the company said.

3. GAAP net income was $1.8 million in the second quarter, compared to a GAAP net loss of $50 million for the same period in 2020.

4. As of June 30, cash, cash equivalents and investments were $204.1 million.

5. NuVasive said it expects full-year net sales to be about $1.2 billion.

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