Surgalign Holdings Inc - SRGA STOCK NEWS

Surgalign Holdings, Inc. (NASDAQ: SRGA) reported third-quarter 2021 results, revealing a total global spine revenue of $20.5 million, down from $27.9 million in Q3 2020. The company experienced a net loss of $8.3 million, or $0.06 per share, and an Adjusted EBITDA loss of $13.6 million. Cash reserves stood at $68.4 million. Revenue guidance for the full year has been revised to $88 million to $92 million, due to COVID-19 impacts on elective procedures and staffing shortages. Sheryl Conley was appointed as non-executive Chair of the Board.

Surgalign Holdings, Inc. (NASDAQ: SRGA) announced the granting of restricted stock unit awards totaling up to 177,027 shares to two new employees, effective November 1, 2021. The awards serve as an inducement for employment and will vest over three years, contingent on continued employment. The initiative, approved by the Compensation Committee, aligns with Nasdaq rules and aims to attract talent to enhance Surgalign's mission of advancing digital surgery. The company focuses on elevating care standards and expanding its product reach globally.

Surgalign Spine Technologies (NASDAQ: SRGA) plans to release its third quarter 2021 financial results on November 9, 2021, after market close. A conference call will follow at 4:30 p.m. ET, accessible by phone or via webcast on the company's investor website. Surgalign, dedicated to advancing digital surgery, markets its products in the U.S. and over 50 countries through a network of distributors. The firm emphasizes superior outcomes for patients and is strategically resourced to transform the surgical landscape.

Surgalign Holdings, Inc. (NASDAQ: SRGA) announced the granting of restricted stock unit awards to six new employees, totaling up to 86,363 shares. These awards, effective October 1, 2021, aim to incentivize employment acceptance and will vest over three years. The awards were approved by the independent Compensation Committee as per Nasdaq regulations. Surgalign focuses on digital surgery technologies to improve surgical standards and operates in over 50 countries, with its headquarters in Deerfield, IL.

Surgalign Holdings, Inc. (NASDAQ: SRGA) announced the resignation of Chief Financial and Operating Officer Jonathon M. Singer, effective October 15, 2021, to pursue another opportunity. His departure is not due to any disagreement with the company. The firm is currently searching for his successor. In recognition of this transition, Chris Thunander has been promoted to Vice President and Chief Accounting Officer, having previously served as Director of Accounting and Finance. Surgalign focuses on digital surgery innovation, enhancing surgical practices globally.

Surgalign Holdings, Inc. (Nasdaq: SRGA) announced the appointment of Sheryl Conley as the non-executive Chair of the Board of Directors, effective September 14, 2021. Conley brings over 35 years of experience in the orthopedic medical device industry, previously serving as President and CEO of OrthoWorx and holding executive roles at Zimmer, Inc. She succeeds Stuart Simpson, who resigned due to new responsibilities at THINK Surgical, Inc. Her expertise in driving innovation and market creation in digital surgery is expected to enhance Surgalign's strategic direction.

Surgalign Holdings, a medical technology company, granted restricted stock unit awards to four new employees as an inducement for acceptance of employment. The total awards represent rights to receive up to 38,960 shares of common stock and were approved under the 2021 Inducement Plan. Vesting occurs in stages, with one-third vesting on the first anniversary of the grant, and the remainder vesting quarterly over two years. The decision was made by the independent Compensation Committee of the Board, aligning with Nasdaq regulations.

Surgalign Holdings, Inc. (NASDAQ: SRGA) announced a new patent granted by the USPTO for a machine learning system focused on automated segmentation of three-dimensional bony structures in medical images. This patent enhances the company’s HOLO AI technology portfolio, which plays a crucial role in its digital surgery platform aimed at improving patient outcomes. The first applications will target the U.S. market, where over 1.5 million spinal procedures are conducted annually. This development underscores Surgalign's commitment to advancing digital surgery.

Surgalign Holdings, Inc. (NASDAQ: SRGA) reported Q2 2021 financial results, highlighting global spine revenue of $24.8 million, up from $20.5 million in the prior year. Despite a net loss of $10.6 million, improvements in adjusted EBITDA showed a loss of $8.5 million, significantly better than $21.4 million a year prior. The company made significant strides with the FDA submission for its Holo digital surgery platform and raised approximately $50 million in a direct offering. However, revised revenue guidance reflects ongoing COVID-19 impacts, projecting full-year revenue between $95 million and $100 million.