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SeaSpine Holds Own on Quarterly Results
SeaSpine Holdings Corporation (NASDAQ: SPNE), saw its shares clear breakeven Friday, after the Carlsbad, Calif.-based global medical technology company announced today financial results for the three months ended December 31, 2021.
Revenue of $55.6 million, an increase of 20% year-over-year. U.S. revenue was $50.2 million, an increase of 19% year-over-year
U.S. spinal implants and enabling technologies revenue of $27.3 million, an increase of 32% year-over-year
U.S. orthobiologics revenue of $22.9 million, an increase of 7% year-over-year
International revenue was $5.4 million, an increase of 26% year-over-year
Also, the company completed integration of 7D Surgical; Initiated full commercial launches of the following additions to the product portfolio consisting of Admiral™ ACP System; NorthStar Facet Fusion System; Regatta Lateral Plate System
Said CEO Keith Valentine,“We are pleased with our revenue performance in the fourth quarter, despite the impact of the pandemic on surgery volumes in December,”
“As we enter the new year, we are encouraged with the steady improvements we have seen in operating room capacity and hospital staffing levels since early February.
“Those improvements, coupled with the strength of our comprehensive spinal implants and advanced DBM products portfolio, as well as disruptive 7D technologies, such as our FLASH™ Navigation System, drive the confidence in our ability to accelerate market share-taking across all markets in which we compete.”
SPNE shares took on 11 cents to $12.82.
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