Here are seven observations from the third quarter financial report:
1. The company’s total revenue was $18.4 million, a decrease of 1.2 percent year-over-year.
2. Product revenue was $18.2 million, a 1.2 percent year-over-year drop.
3. ConforMIS’ U.S. product revenue saw a 3.8 percent boost year-over-year.
4. The rest of the world revenue dropped 23.1 percent year-over-year.
5. ConforMIS reported 40 percent gross margin, reflecting an 800 basis point boost year-over-year.
6. The company’s net loss was $12.5 million, compared to $12.8 million in the same period the year prior.
7. Cash and cash equivalents and investments totaled $54.5 million.
“We are pleased with our third quarter results as we saw improved commercial performance in the US and excellent progress in our operating performance for the quarter,” said Mark Augusti, ConforMIS president and CEO.
More articles on devices:
Global SCS market to hit $3.6B by 2027 — 9 observations
Global spine orthopedic devices market to grow at 6.2% CAGR through 2023 — 6 observations
Alphatec, Patrick Miles file complaint against NuVasive in ongoing dispute
