Surgalign sees Q2, half-year revenue dip

Spinal Tech

Spine devicemaker Surgalign reported year-over-year revenue decreases in the second quarter and the first half of 2022, according to results posted Aug. 9.

Four things to know:

1. Second quarter revenue was $20.6 million, a 4.2 percent dip year-over-year. The fall was related to hospital and ASC staff shortages, procedure delays and supply chain issues.

2. Six-month revenue also fell. Total revenue for the first half of 2022 was $41.2 million, a 14.3 percent decrease from the same time last year. Similar factors such as staffing strains and fewer procedures led to the lower revenue.

3. Highlights of the second quarter include the first procedures with the Holo Portal guidance system, a strategic partnership with Pria Healthcare and the launch of the CervAlign anterior cervical plate system.

4. The company saw an operating loss of $13.4 million in the second quarter and a total loss of $22.3 million in the first half of 2022.

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