FUSE MEDICAL INC - FZMD STOCK NEWS

Fuse Medical, Inc. (OTCPINK: FZMD) reported its annual financial results for 2022, showing net revenues of $18.6 million, down 9% from $20.4 million in 2021. Despite the revenue decline, the company achieved a gross profit of $11.5 million, indicating a margin increase to 62% compared to 58% the previous year. Selling, general, and administrative expenses decreased to $6.5 million from $7.0 million, while commissions dropped significantly by 20% to $5.7 million. Notably, Fuse achieved a net income of $3.1 million, a turnaround from a net loss of $1.59 million in 2021, marking a 151% increase. The Adjusted EBITDA loss improved by approximately 50%, down to $997,407. CEO Christopher C. Reeg expressed optimism for 2023, focusing on product development and expanding distribution.

Fuse Medical, Inc. (OTCPINK: FZMD) reported a 7% increase in net revenues to $4.5 million for Q3 2022, compared to $4.2 million in Q3 2021. The gross profit rose 11% to $3 million, representing 67% of revenues. While SG&A expenses increased from $1.5 million to $1.7 million, the net loss significantly decreased to $9,376 from $697,036, and Adjusted EBITDA improved to $131,241 compared to a loss of $630,549 in the prior year. The company aims to expand its product line and distribution footprint in 2023.

Fuse Medical, Inc. (OTCPINK: FZMD) has been recognized as the 149th largest public company in the Dallas-Fort Worth region, based on its 2021 revenue of $20.4 million. This ranking, published by the Dallas Morning News, highlights the company's growing footprint in the orthopedic and spine medical device market. CEO Christopher C. Reeg expressed pride in this achievement, crediting the hard work of employees and partners. The annual list, compiled by Bloomberg, assesses companies in North Texas by their total revenue.

Fuse Medical, Inc. (OTCPINK: FZMD) has appointed Lawrence S. Yellin as the new Chief Financial Officer, enhancing its executive team. With over 25 years of financial management experience, Yellin previously served as CFO for NVIP LLC and Logic E Cigarettes. He holds a Bachelor of Science in Accounting from Ohio State University and an MBA in Finance from Pace University. The CEO, Christopher C. Reeg, expressed confidence in Yellin's financial expertise and leadership skills, anticipating that his contributions will support Fuse's growth in the orthopedic and spine medical device sector.

Fuse Medical, Inc. (OTCPINK: FZMD) has announced a distribution partnership with BRM Extremities S.r.l. for the exclusive US distribution of the Silktoe® metatarsophalangeal joint arthroplasty implant. This innovative product addresses severe arthritis in the metatarsophalangeal joint and is designed to replicate natural anatomical motion. The implant consists of an elastomeric silicone spacer secured by titanium grommets, available in five sizes. CEO Christopher C. Reeg emphasized the product's versatility, aligning with Fuse's goal of enhancing surgical outcomes.

Fuse Medical, Inc. (OTCPINK: FZMD) filed its quarterly report on Form 10-Q for Q3 2021 on November 10, 2021. For the nine months ending September 30, 2021, net revenues were $14.35 million, down slightly from $14.38 million in 2020. Gross profit rose to $5.9 million, representing 59% of revenues. SG&A expenses remained stable at approximately $5.01 million, while commissions decreased to $4.89 million. The company reported a reduced net loss of $1.24 million, down 24% from $1.63 million in 2020. CEO Christopher C. Reeg noted that COVID-19's Delta variant impacted results due to surgery restrictions.

Fuse Medical, Inc. (OTCPINK: FZMD) has officially launched its FuseChoice™ Dermal Matrix line, expanding its biologics portfolio. This product is designed for use in sports medicine and wound care, providing supplemental support and protection for soft tissues. The proprietary process used in its development preserves key extracellular matrix molecules, offering enhanced tensile strength. With options in different sizes and thicknesses, FuseChoice™ Derm stands out for its no preparation requirement, extended shelf life, and ambient storage capabilities. CEO Christopher C. Reeg emphasized the company’s commitment to improving surgical outcomes through innovative products.

Fuse Medical, Inc. (OTCPINK: FZMD) has received FDA 510(k) clearance for its Tibial Revision Knee System and PS Plus Posterior Stabilized Tibial Insert, enhancing the Sterizo™ Total Knee System. These innovations provide surgeons with improved options for patients requiring greater anatomical support. The Tibial Revision System is designed for higher BMI patients and aims to expand market reach. CEO Christopher C. Reeg emphasized the commitment to innovative solutions for clinical challenges, supporting the company's growth and development efforts in the orthopedic sector.

Fuse Medical, Inc. (OTCPINK: FZMD) has launched its innovative Orbitum™ Compression Staple, marking a significant advancement in orthopedic fixation devices. Designed for foot and hand applications, the Orbitum™ system consists of the Orbitum™ VI and X Staples, utilizing novel geometry to achieve full bone compression. Surgeons reported reduced surgical times and improved outcomes with this new system. CEO Christopher C. Reeg emphasized the need for effective solutions in clinical challenges. The Orbitum™ Staple boasts superior pull-out resistance, enhancing its efficiency and reliability.