Here are seven things to know about the company’s Q1 results:
1. Surgalign’s first quarter revenue reached $16.7 million, as compared with $20.6 million in the first quarter of last year and $20.6 million last quarter.
2. The revenue decrease was due in part to a reduction in product offerings related to ongoing restructuring efforts.
3. The company saw a gross margin of 63.7 percent, down 520 basis points from a year ago.
4. Operating expenses were up $1.3 million to $24.4 million for the quarter.
5. The company saw an operating loss of $1.1 million, compared with $8.9 million a year ago.
6. Adjusted earnings saw a loss of $10.8 million.
7. During the quarter Surgalign’s Holo artificial intelligence spine imaging tool expanded into two new sites and one new state.
