NUVA - NuVasive Non-GAAP EPS of $0.56 beats by $0.01 revenue of $317.8M misses by $5.32M
2023-08-02 16:24:08 ET
- NuVasive press release ( NASDAQ: NUVA ): Q2 Non-GAAP EPS of $0.56 beats by $0.01 .
- Revenue of $317.8M (+2.4% Y/Y) misses by $5.32M .
- For the second quarter of 2023, GAAP and non-GAAP gross profit was $228.3 million, compared to $224.7 million in the prior year period. GAAP and non-GAAP gross margin was 71.8%, compared to 72.4% in the prior year period.
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Cash and cash equivalents were $80.7 million as of June 30, 2023. During the second quarter, the Company repaid at maturity $450 million of its outstanding convertible notes using $350 million in borrowings under the Company's credit facility plus cash on hand.
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Full-year 2023 Net Sales Guidance
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The Company continues to expect 2023 net sales growth of 6%?8% on an as reported and constant currency basis, compared to full year 2022, based on foreign currency rates as of July 31, 2023.
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NuVasive Non-GAAP EPS of $0.56 beats by $0.01, revenue of $317.8M misses by $5.32M