NuVasive posts 7.2% revenue increase in Q1: 4 notes

Spinal Tech

NuVasive on May 4 posted revenue growth in the first quarter of 2022 and almost $20 million in net profit.

Four notes:

1. First-quarter revenue was $290.8 million, a 7.2 percent increase year over year, according to a news release.

2. Net income was $19.2 million compared to the first quarter of 2021, which saw a net loss of $7.5 million for NuVasive.

3. "Despite COVID-19 and macroeconomic pressure in the first half of the quarter, our performance reflects the strong health of our business and positions us well for continued growth," CEO Chris Barry said in a release. "Looking ahead to the remainder of the year, we expect our novel technology to drive further differentiation with our surgeon partners."

4. The company's outlook for the full year was updated to raise the lower end of its sales growth projections. It expects to see a 6 to 8 percent increase in full-year sales compared to 2021.

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