SeaSpine Holdings (SPNE) Reports Q4 Loss of $0.52/sh, Offers Guidance

SeaSpine Holdings (NASDAQ: SPNE) reported Q4 EPS of ($0.52), versus ($0.37) reported last year. Revenue for the quarter came in at $55.6 million, versus $46.4 million reported last year.

GUIDANCE:

SeaSpine Holdings sees FY2022 revenue of $226-230 million.

• SeaSpine expects full-year 2022 revenue to be in the range of $226 to $230 million, reflecting growth of approximately 18% to 20% over full-year 2021. Growth in the U.S. spinal implants portfolio for the full-year 2022 is expected to exceed 17%.
• Recently, SeaSpine notified its European spinal implant distributors of its decision to discontinue all sales and marketing activities for its spinal implants portfolio in the European market effective September 2022 due to the significantly higher upfront and recurring annual costs required to comply with European MDR regulations. As a result, SeaSpine anticipates approximately $12 to $13 million of revenue in the third quarter of 2022 attributable to stocking orders from its European spinal implant distributors. Spinal implant sales in Europe represented approximately 3% of total Company revenue in 2021 and 2020. SeaSpine will continue to market and sell its orthobiologics and enabling technologies products in the European market.
• Despite pandemic- and staffing-related challenges to begin the year, SeaSpine expects first quarter 2022 revenue to be in the range of $48.5 to $49.5 million, reflecting growth of approximately 16% to 18% over first quarter 2021.

For earnings history and earnings-related data on SeaSpine Holdings (SPNE) click here.

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