SeaSpine posts $39.9M Q3 revenue, heightens 3D printing investment: 6 things to know

Alan Condon -   Print  |
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SeaSpine's revenues increased 11 percent to $39.9 million in the third quarter of 2019 but the company posted a net loss of $9.7 million.

Six things to know:

1. Spinal implants revenue increased 15 percent to $19.8 million and orthobiologics revenue increased 8 percent to $20.1 million year-over-year.

2. SeaSpine attributed the increases to growth in recently launched products.

3. Gross profit increased 18 percent to $25.5 million while total operating expenses rose 12 percent to $34.8 million year-over-year.

4. The spike in operating expenses was due to a $3.1 million increase in selling, general and administrative expenses and a $700,000 rise in research and development costs.

5. SeaSpine's gross margin for the third quarter increased from 60.2 percent to 63.9 percent, compared to the same period for last year.

6. The company is collaborating with restor3d and is planning a full commercial launch of five 3D-printed interbody devices for the cervical and lumbar regions by the end of 2021, according to Keith Valentine, president and CEO.

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