Five notes:
1. First-quarter U.S. revenue increased 20 percent year over year to $37.5 million, with spinal implants revenue jumping 29 percent to $18.4 million and orthobiologics revenue rising 12 percent to $19.1 million.
2. Net loss for the first quarter was $12.7 million, compared to $12.6 million for the same period in 2020.
3. SeaSpine expects to complete its proposed $110 million acquisition of 7D Surgical in the second quarter.
4. Including the 7D Surgical transaction, SeaSpine projects 2021 total revenue to be between $193 million and $198 million, reflecting growth of 25 percent to 28 percent compared to 2020.
5. As of March 31, cash and cash equivalents were $87.7 million. SeaSpine had $20 million outstanding under its credit facility and $6.2 million outstanding under its Paycheck Protection Program loan.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
