NuVasive's net sales in the second quarter increased 44.8 percent year over year to $294.8 million, and clinical evaluations of its Pulse spine system got underway in Europe.
1. The spine market continued to stabilize in the second quarter, with NuVasive building on its first-quarter net sales of $271.2 million.
"Our continued investments in the cervical and anterior procedural segments and our international commercial organization are advancing both our near- and long-term growth strategy," CEO Chris Barry said in a July 28 news release.
2. Second-quarter growth was due to recovery from the pandemic "across all procedural segments and continued strong international growth," the company said.
3. GAAP net income was $1.8 million in the second quarter, compared to a GAAP net loss of $50 million for the same period in 2020.
4. As of June 30, cash, cash equivalents and investments were $204.1 million.
5. NuVasive said it expects full-year net sales to be about $1.2 billion.