SeaSpine saw a 19 percent year-over-year increase in revenue during the second quarter of 2022, according to results posted Aug. 2.
Six things to know:
1. Second-quarter net sales were $56.3 million, a 19 percent increase from the same period last year.
2. U.S. spinal implants and orthobiologics sales saw 17 percent and 16 percent year-over-year growth, respectively.
3. International revenue of $6.8 million is a 39 percent increase from the same period in 2021.
4. The company said its second-quarter highlights include the launch of WaveForm C, WaveForm TO and the Meridian ALIF system with Reef A interbody.
5. CEO Keith Valentine said in the report: "Our first quarter’s strong revenue momentum sustained through the second quarter. The success we’ve had in attracting and onboarding distributors from our larger competitors, as well as additional transformational distributors we expect to transition in the near-term, is due in large part to our consistent execution in the commercial launch of industry-leading, new and enhanced products and systems."
6. Full-year guidance was raised, and the company said it expects 2022 revenue to be between $234 million and $236 million.