Here are 11 insights:
1. Total revenue reached $56.3 million, an increase of 11.7 percent year-over-year.
2. Domestic revenue hit $42.2 million, up 20 percent year-over-year.
3. The U.S. complex spine segment saw a growth of 12 percent year-over-year.
4. The U.S. minimally invasive surgery segment increased 27.9 percent year-over-year.
5. The U.S. degenerative segment rose 24.6 percent year-over-year.
6. International revenue reached $14.1 million, a decrease of 7.5 percent year-over-year.
7. The company reported a net loss of $10.2 million for the first quarter.
8. K2M’s adjusted EBITDA was $1.1 million, compared to $2.1 million last year.
9. The first surgical case using K2M’s CASCADIA Lateral Interbody System with Lamellar 3D Titanium Technology occurred on Jan. 8, 2916.
10. On Jan. 21, 2016, the company received the CE Mark for its RHINE Cervical Disc System.
11. On April 6, 2016, K2M received FDA clearance for its MESA Mini Spinal System and DENALI Mini Spinal System.
“Our focus on innovation will continue as we execute toward our goal of obtaining regulatory clearance for five to eight strategically and commercially significant products and product line extensions again this year,” said Eric Major, K2M president and CEO.
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