ZimVie reports $10.6M decrease in spine sales in Q3

Spinal Tech

Spine and dental devicemaker ZimVie has reported $202.9 million in third-party net sales in the third quarter of the year, down 4.9% from the third quarter of 2022. 

Third-party spine sales reached $97.6 million, down by $10.6 million from the year prior, according to a Nov. 1 press release. 

The company attributes a decrease in sales to several factors, including competitive pressures, lower net sales due to an exit from the Chinese market and one less selling day in the quarter.

Net loss for the third quarter companywide reached $5.1 million, a change of $5.9 million from the year prior, when net income was $0.8 million. The company attributes an increase in net loss to lower net sales and a higher cost of spine products.

Adjusted net income for the third quarter was $2.2 million, a $10.7 million decrease from the year prior. 

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