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SeaSpine Holdings Corporation (NASDAQ: SPNE) reported record quarterly revenue of $47.5 million for Q2 2021, marking a 66% increase from 2020. U.S. revenue reached $42.6 million, a 64% rise, driven by strong sales in spinal implants and orthobiologics. The company closed the acquisition of 7D Surgical, contributing $0.6 million in revenue. SeaSpine raised $94.5 million from a public offering in April and raised its 2021 revenue outlook to $201-$205 million, reflecting 30-33% growth year-over-year. Despite a net loss of $5.2 million, adjusted EBITDA losses improved from the previous year.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced its participation in the Canaccord Genuity 41st Annual Growth Conference on August 11, 2021, at 2:00 PM ET. The presentation will be available via a live and archived webcast on the Investor Relations page of SeaSpine’s website. The company specializes in surgical solutions for spinal disorders, offering a range of orthobiologics and spinal implants designed to enhance surgical outcomes. SeaSpine operates in the U.S. and approximately 30 countries, supported by a network of distribution partners.
SeaSpine Holdings Corporation (NASDAQ: SPNE) will release its second quarter financial results on August 2, 2021, after market close. A conference call will follow at 2:00 PM PT / 5:00 PM ET, accessible via phone and webcast. SeaSpine specializes in surgical solutions for spinal disorders, offering a wide range of orthobiologics and spinal implants. The company markets its products in the U.S. and approximately 30 countries, focusing on enhancing bone fusion rates and supporting various spinal procedures.
SeaSpine Holdings Corporation (NASDAQ: SPNE) has received FDA 510(k) clearance for its 7D Percutaneous Spine Module, enhancing the 7D Flash™ Navigation System for minimally invasive surgeries. This follows the acquisition of 7D Surgical, known for optical technologies and machine vision algorithms. The limited release of the new module is planned for Q3. The system utilizes visible light for rapid, efficient spinal navigation, addressing long-standing issues with existing platforms. SeaSpine aims to broaden its market presence and improve surgical workflows.
SeaSpine Holdings Corporation (NASDAQ: SPNE) will present at the Ladenburg Thalmann 2021 Virtual Healthcare Conference on July 13, 2021, at 10:30 AM ET. A live and archived webcast will be accessible through the Company's Investor Relations page. SeaSpine is dedicated to developing surgical solutions for spinal disorders, offering a diverse range of orthobiologics and spinal implants. Its innovative products support spinal fusion in various procedures, catering to neurosurgeons and orthopedic spine surgeons. The company operates in the U.S. and approximately 30 other countries.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced the limited commercial launch of its 3D-printed WaveForm L Interbody System for lateral lumbar interbody fusion (LLIF) procedures. The WaveForm L integrates with the Regatta NanoMetalene® portfolio, offering a fully porous solution that can accommodate significant amounts of allograft bone matrix. This innovative implant aims to enhance fusion rates while balancing subsidence resistance and implant stiffness. The company plans to introduce additional products in the 3D-printed interbody space, expanding its procedural capabilities.
SeaSpine Holdings Corporation (NASDAQ: SPNE) has issued inducement equity awards to Beau Standish and 44 non-executive employees following the acquisition of 7D Surgical. The awards, approved by the independent compensation committee, involve options to purchase 544,150 shares at an exercise price of $19.99, equal to the closing price on June 2, 2021. These options have an 8-year term and will vest incrementally over the next few years, enhancing employee retention and aligning interests with company growth.
SeaSpine Holdings Corporation (NASDAQ: SPNE) has successfully completed the acquisition of 7D Surgical, a Toronto-based company known for its innovative optical technologies and FLASH™ Navigation System. This system enhances surgical workflows in spine and cranial surgeries. The acquisition is expected to strengthen SeaSpine's capabilities and expand its product offerings, aligning with its mission to improve surgical outcomes and patient safety. CEO Keith C. Valentine expressed excitement about the synergy between the two companies, emphasizing the potential for innovation in surgical solutions.
SeaSpine Holdings Corporation (NASDAQ: SPNE) will present at the Canaccord Genuity Virtual Musculoskeletal Conference on May 20, 2021, at 1:00 PM ET. The presentation will focus on their innovative surgical solutions for spinal disorders. A live and archived webcast will be accessible on the Investor Relations page of their website. SeaSpine specializes in orthobiologics and spinal implants, aiming to enhance bone fusion rates for various orthopedic surgeries. Their products are marketed in the U.S. and around 30 countries through exclusive distribution partners.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced the transition of its annual stockholders' meeting to a virtual format, scheduled for June 2, 2021, at 7:00 a.m. PT, due to ongoing COVID-19 health concerns. The record date remains April 5, 2021, and stockholders can still vote by various methods detailed in the proxy materials. Registration is required for attendance, and further instructions will be sent via email after registration. A notice regarding this change will be filed with the SEC.
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