NuVasive saw increases in fourth-quarter and full-year revenue in 2021, according to financial results posted Feb. 23.
Five things to know:
1. Fourth-quarter revenue was $302.1 million, a 3.5 increase year-over-year. Full-year sales were $1.1 billion, up 8.4 percent compared with 2020.
2. Net sales were largely driven by the Pulse spine platform and Nuvasive's C360 portfolio, which includes the Simplify cervical disc.
3. The company saw a net loss of $64.1 million in 2021, which was primarily driven by contingent consideration liabilities for the Simplify Medical acquisition and inventory charges related to Precice devices that were removed from the market.
4. NuVasive expects a net sales growth of 5 to 8 percent in 2022.
5. Although fourth-quarter revenue increased, the company's results were negatively impacted by the COVID-19 pandemic and healthcare staff shortages.