Issue link: https://beckershealthcare.uberflip.com/i/571000
38 SPINE DEVICE & INNOVATION NuVasive Q2 Revenue Up 6.4% to $202.9M: 7 Things to Know By Laura Dyrda N uVasive reported increased revenue for the second quarter of 2015. Here are seven things to know from the financial report: 1. e company's revenue increased 6.4 percent to $202.9 million. 2. e GAAP gross profit for the second quarter was $154.4 million and the gross margin was 76.1 percent. e gross profit was up over the same period last year. 3. Net income was $10.3 million, or $0.20 per share for the second quarter. During the second quarter of last year, the company reported $4.1 million net loss. 4. NuVasive reported $306.6 million in cash, cash equivalents and short and long term marketable securities for the quarter. 5. NuVasive updated revenue projects to $810 million for the full year, including $13 million of currency headwinds — approximately 6.2 percent growth compared to last year's revenue. 6. e adjusted EBITDA margin is approximately 25.2 percent, an increase of around 330 basis points compared to last year. e previous expectations for 2015 were 24.6 percent. 7. GAAP earnings per share are estimated around $1.18 for the entire year — higher than the prior expectations of $1.12. "We are laser-focused on increasing our market share by rapidly developing disruptive technologies and services for spine surgery, expanding our global footprint in existing and new markets, and positioning NuVasive as a commercial powerhouse with integrated sales, service and specialized customer marketing programs," said NuVasive CEO and Chairman Gregory T. Lucier. n LDR Revenue Up 19.4%, Net Loss at $5.8M: 10 Key Notes By Laura Dyrda L DR reported total reve- nue increase in the sec- ond quarter of 2015. Here are 10 things to know: 1. Total revenue for the second quarter was up 19.4 percent to $41.5 million. 2. Exclusive technology prod- ucts revenue grew 25.8 percent in the second quarter to $38.2 million. 3. United States revenue in- creased 26.4 percent to $33.3 million while international revenue dropped 2.3 percent to $8.2 million during the quarter. 4. The exclusive cervical prod- ucts revenue was up 36.5 per- cent in the second quarter to $28.6 million. The growth is partially due to Mobi-C cervical disc sales growth. 5. LDR's lumbar products also grew 2 percent in the quarter to $9.6 million. The VerteBRIDGE fusion product sales grew for both lumbar and cervical spine lines. 6. Gross profits for the quarter were $34.7 million and the gross margin was 83.6 percent. There was an improvement in the gross margin due to geographic mix and better freight rate man- agement. 7. The company's net loss for the quarter was $5.8 million, or $0.22 per share. This is up from $2.3 million net loss in the same period last year. 8. The adjusted EBITDA for the second quarter was -$700,000, compared with $700,000 over the same period last year. 9. LDR raised its expected rev- enue growth for the full year 19 percent to 20 percent, before the foreign exchange impact, to hit $168.1 million to $169.5 million. 10. At the end of the second quarter, LDR had $62.6 million in cash and cash equivalents and $74.4 million in working capital. The company was $24.2 million in debt. n