Globus Medical's US spine sales recover in Q1: 4 notes

Spinal Tech

Globus Medical on May 10 posted $230.5 million in sales during the first quarter of 2022.

Four things to know:

1. First-quarter net sales revenue of $230.5 million was a 1.4 percent increase year over year. U.S. net sales grew 1.6 percent year-over-year.

2. Net income was $38.1 million. That was a decrease of 16 percent compared to the same time in 2021.

3. "U.S. spine sales recovered and had a record-breaking month in March, which continued at a healthy pace in April," President and CEO Dan Scavilla said in a news release. "After a record fourth quarter, enabling technologies sales in the quarter were also negatively impacted by COVID-19; however, the clinical superiority of ExcelsiusGPS continues to drive surgeon and hospital interest in the system, building a strong pipeline."

4. The company reaffirmed its full-year guidance of $1 billion in net sales.

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