Full-year 2020 revenue for SeaSpine declined 3 percent year over year to between $154.1 million and $154.5 million, according to a preliminary unaudited report released Jan. 11.
Five things to know:
1. Fourth-quarter revenue is projected to be within the range of $46.2 million to $46.6 million, representing 6 percent to 7 percent growth compared to the same period last year.
2. For the fourth quarter, the company expects spinal implants revenue to increase by between 7 percent and 8 percent and orthobiologics revenue to rise between 6 percent and 7 percent year over year.
3. Fourth-quarter international revenue is projected to decrease 3 percent to about $4.3 million.
4. U.S. sales saw year-over-year growth in November and December, but at a lower rate than October. SeaSpine launched five products in the fourth quarter.
5. As of Dec. 31, cash, cash equivalents and short-term investments were about $77 million. SeaSpine had no outstanding debt under its credit facility.