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SeaSpine Holdings Corporation (NASDAQ: SPNE) reported Q4 2021 revenue of $55.6 million, up 20% year-over-year, with U.S. revenue at $50.2 million. Key growth areas included spinal implants (up 32%) and orthobiologics (up 7%). Despite challenges, the company anticipates 2022 revenue between $226 and $230 million, reflecting 18-20% growth. The company will discontinue spinal implant sales in Europe, impacting future revenues but will continue to market orthobiologics. The net loss for Q4 2021 was $18.8 million, an increase from $10.3 million a year before.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced key leadership changes with Dr. Frank Vizesi promoted to Chief Scientific Officer and Shaeffer Bannigan becoming Vice President of Product Development for Spinal Implants. Dr. Vizesi has been pivotal in establishing SeaSpine's position as #2 in the U.S. demineralized bone matrix market, while Bannigan has led over 45 product launches, contributing to over 75% of Spinal Implants revenue from recent products. These changes aim to enhance research and innovation in spinal surgical solutions.
SeaSpine Holdings Corporation (NASDAQ: SPNE) has announced the full commercial launch of its NorthStar™ Cervical Facet Fusion and the limited launch of FLASH™ Navigation Lumbar Facet Fusion. These innovative solutions are designed to enhance procedural workflows and maximize fusion area using OsteoStrand® DBM Fibers. The NorthStar system aims to improve screw placement accuracy, benefiting surgeons of all experience levels. The launches tap into a market opportunity exceeding $1 billion, demonstrating SeaSpine's commitment to advancing surgical outcomes.
SeaSpine Holdings Corporation (NASDAQ: SPNE) has announced the release date for its fourth quarter and full year 2021 financial results, set for Friday, March 11, 2022. A conference call and webcast will be held at 9:00 am PT / 12:00 pm ET. During the event, the management team will discuss the completion of the 7D Surgical integration and reveal the company's long-term strategy and capital allocation plans. Additionally, a Virtual Analyst and Investor Day will offer insights, followed by a live Q&A session. For further details, visit www.seaspine.com.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced preliminary financial results for Q4 and full year 2021. Q4 2021 revenue is expected to be between $55.1 to $55.5 million, marking a 19% to 20% year-over-year increase. Full year revenue is projected at $191.0 to $191.4 million, representing 24% growth. Notably, U.S. spinal implants and enabling technologies capital sales revenue grew by 31% to 32%. Cash reserves stand at approximately $83 million with no debt under the $30 million credit facility. CEO Keith Valentine highlighted resilience amid pandemic disruptions.
SeaSpine Holdings Corporation (NASDAQ: SPNE) has appointed Angela Steinway to its Board of Directors, effective December 14, 2021. Ms. Steinway, with over 15 years of experience in the medical device industry, currently holds the position of Vice President at Integra Lifesciences Holdings. Her expertise in strategy and business development is expected to enhance SeaSpine's growth initiatives. Following her appointment, the board now comprises nine directors, of which eight are independent, indicating a strong governance structure.
SeaSpine Holdings Corporation (NASDAQ: SPNE) has announced the full commercial launch of its next-generation Admiral ACP System, designed for anterior cervical discectomy and fusion (ACDF) procedures. The system aims to enhance surgical efficiency with its innovative instrumentation and robust plate features. CEO Keith Valentine emphasized that Admiral ACP targets the largest segment of the $1.3 billion cervical spine surgery market, positioning it as a significant growth driver. The system complements SeaSpine's existing interbody offerings.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced its participation in two upcoming virtual investor conferences. The first event is the Stifel 2021 Virtual Healthcare Conference on November 16, 2021, featuring a fireside chat at 2:40 pm ET. The second is the Piper Sandler 33rd Annual Virtual Healthcare Conference, which will have a pre-recorded fireside chat available on demand starting November 22, 2021. SeaSpine specializes in surgical solutions for spinal disorders, offering a diverse range of orthobiologics and spinal implants across the U.S. and approximately 30 countries.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced the limited commercial launch of the Mariner® MIS Wayfinder System, a novel k-wireless screw delivery system for pedicle screw fixation. The system aims to enhance surgical efficiency by eliminating traditional guidewires and providing real-time feedback, aligning with SeaSpine's Mariner platform. Early user feedback indicates significant operational efficiencies, particularly when used with the 7D FLASH Navigation System. The company continues to expand its product offerings in the spinal disorder treatment market.
SeaSpine Holdings Corporation (NASDAQ: SPNE) reported third quarter 2021 revenue of $46.4 million, a 7.5% increase compared to 2020. US revenue was $41.2 million, reflecting a 5.5% increase. Despite the adverse impact of COVID-19, the company reported strong growth in spinal implant sales with 78% of revenue from new products. However, net loss increased to $17.6 million from $6.6 million in Q3 2020. For Q4 2021, SeaSpine expects revenue of $54 million to $55 million, a 16% to 18% growth from Q4 2020.
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