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SeaSpine Holdings Corporation (NASDAQ: SPNE) reported a 27% year-over-year decline in revenue for Q2 2020, totaling $28.6 million. U.S. Spinal Implants revenue decreased 22% to $13.2 million, while U.S. Orthobiologics revenue fell 30% to $12.7 million. Despite these challenges, there was a positive trend noted in June, with growth attributed to strategic investments and a strengthened distributor network. The company experienced a net loss of $13.7 million and withdrew its 2020 financial outlook due to COVID-19 uncertainties.
SeaSpine Holdings Corporation (NASDAQ: SPNE) will announce its second quarter financial results on August 4, 2020, after market close. A conference call will follow at 2:30 PM PT / 5:30 PM ET, where management will discuss the results. Interested parties can join the call by dialing (877) 418-4766 for domestic calls or (614) 385-1253 for international access, using Conference ID: 2209758. SeaSpine specializes in surgical solutions for spinal disorders, offering a broad range of orthobiologics and spinal implants globally.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced the full commercial launches of the Mariner MIS and Mariner Outrigger systems on June 30, 2020. These systems aim to enhance surgical efficiency and patient care for spinal procedures. The Mariner Outrigger features specialized instrumentation for complex revisions, while the Mariner MIS system focuses on minimally invasive surgery. Both systems expand the Mariner platform's capabilities, facilitating a range of treatments in spinal surgery.
SeaSpine Holdings Corporation (NASDAQ: SPNE) has announced the alpha release of its NorthStar OCT and Cervical Facet Fusion systems, enhancing its offerings for posterior cervical fusion. The NorthStar OCT system promises clinical and economic efficiencies with innovative instrumentation, reducing operating room time. The Cervical Facet Fusion system serves as a complementary graft delivery solution. These launches aim to advance procedural standards in spinal surgery, as SeaSpine continues to expand its portfolio of orthopedic solutions.
SeaSpine Holdings Corporation (NASDAQ: SPNE) announced its participation in a virtual fireside chat with BTIG, scheduled for May 18, 2020, at 1:00 pm ET. Interested participants can request access by emailing USCorporateAccess@btig.com. The event will also feature an audio replay available on the Company's investor website. SeaSpine specializes in surgical solutions for spinal disorders, offering a diverse portfolio of orthobiologics and spinal implants for various surgical needs globally.
SeaSpine Holdings Corporation (NASDAQ: SPNE) reported Q1 2020 revenue of $36.1 million, unchanged from Q1 2019. U.S. revenue was $31.8 million, down by less than 1%. U.S. Spinal Implants revenue fell 3% to $14.5 million, while U.S. Orthobiologics revenue rose 2% to $17.3 million. Gross margin decreased to 61.8%, and operating expenses increased by $3.4 million to $35 million. The net loss for the quarter was $12.6 million. The company withdrew its 2020 guidance due to uncertainties from the COVID-19 pandemic.
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