Here are eight things to know about the company’s financial report:
1. ConforMIS achieved $19.2 million in total revenue, which includes a $3.5 million settlement related to patent litigation. This is a 72 percent increase over the same period last year.
2. Achieved product revenue was $15.8 million, up 41 percent year-over-year. The company reported product revenue from sales of iTotal CR, iUni and iDuo was up $4 million over the same period last year. The product sales of iTotal PS, which was only launched on a limited basis in the United States this past February, was $600,000 in the second quarter.
3. The company completed an initial public offering and received around $140 million in net proceeds in July.
4. ConforMIS reported a net loss at $10.9 million, or $2.51 per share. This is slightly higher than $10.5 million reported in the same period last year.
5. Total operating expenses increased $4.8 million to $19.4 million. This is a 33 percent increase driven primarily by higher sales and marketing, and general and administrative expenses.
6. GAAP gross profit increase was $4.5 million, or 110 percent over the same period last year.
7. The company expects $72 million to $74 million in total revenue for 2015, which is a 50 percent to 54 percent increase over 2014. This includes $3 million of currency headwind in the company’s revenue results.
8. The product revenue is expected to reach $68 million to $70 million, up 42 percent to 46 percent over 2014. The royalty revenue for 2015 is expected to reach $4 million.
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