Six notes:
1. The company attributed the increase in revenue to the “partial return” of elective spine surgeries during the quarter.
2. Second-quarter gross profit was $17.6 million, up from $11.1 million the prior year. Net loss was $10.6 million compared to $24.9 million for the same period in 2020.
3. Surgalign submitted for FDA approval its Holo digital surgical guidance system, which it acquired last year in a deal worth up to $125 million. The device combines optical-based guidance technology with augmented reality, “intelligent” spine segmentation and surgical planning using artificial intelligence, according to Surgalign.
4. The company said it plans to perform the first U.S. procedures with the Holo system by the end of 2021. “We see the incredible potential of the Holo platform to evolve the way surgery is performed, and we have put together a world-class team to drive our transformation into a digital medical technology company,” President and CEO Terry Rich said in an Aug, 6 news release.
5. As of June 30, cash and cash equivalents were about $70 million.
6. Surgalign said it projects 2021 revenue to be between $95 million and $100 million, reflecting year-over-year growth of between 5 percent and 10 percent.
