- Surgalign reported GAAP EPS of -$0.06 (versus -$0.36 in the prior-year quarter) and missed revenues by $2.65M for FY 2021 Q3.
- The company guided for lower FY 2021 revenues by $7M to $8M on the bottom/top range, for total revenues of $88M to $92M for the year.
- The diction regarding Holo Portal (ARAI) FDA Approval delays has very likely spooked investors, especially those unfamiliar with the complex 510K approval process for Class II medical devices.
- The company remains drastically undervalued based on comparative metrics, may need cash infusions in Q3/Q4 of 2022 and may be an attractive acquisition target, contingent on Holo Portal FDA Approval.
For further details see:
Surgalign Holdings: The Saga Continues