SPNE - SeaSpine trades higher after announcing preliminary sales results

SeaSpine Holdings (SPNE) sees Q1 revenue in the range of $41.5M-42.0M vs. a consensus of $39.22M.For full-year 2021, total revenue to be in the range of $193M-$198M vs. a consensus of $185.77M. The guidance does not include the pending acquisition of 7D Surgical.Cash, cash equivalents, and investments at March 31, 2021, are expected to be ~$88M, and the Company had $20M of debt outstanding under its credit facility.“Despite the headwinds we faced in January and early February due to COVID restrictions on spine surgeries, we exceeded our own internal expectations for the quarter with strong results in March as those surgery restrictions eased. The proactive investments we made in deploying additional sets of our existing spinal implant systems, coupled with the four products we launched in the first quarter, helped to deliver strong results.." says Keith Valentine, President, and CEO.Shares +4% premarket.Press Release

For further details see:

SeaSpine trades higher after announcing preliminary sales results