Conformis (Nasdaq:CFMS) this week posted second-quarter results that were in line with the consensus on Wall Street.
The Billerica, Massachusetts-based orthopedic purveyor reported losses of $15.52 million, or -9¢ per share, on sales of $15.14 million for the three months ended June 30, for a bottom-line loss compared to net income of $38 million in Q2 2021.
Earnings per share were 1¢ behind The Street, where analysts were looking for sales of $15.15 million.
“Our second quarter results show signs that we are on the right long-term path. We were in line with our revenue expectations for the quarter and continued to grow our Imprint case volume. The recent signing of our first national agreement for our new Platinum Services Program highlights that our portfolio shift is taking hold,” President and CEO Mark Augusti said in a news release.
“Like many companies, we continue to deal with macro-economic and supply chain challenges that have impacted our business. In light of this, I’m pleased with the recent progress we have made on expense management. These efforts when combined with the continued positive surgeon feedback keep us confident in our long-term strategy.”
Conformis expects third-quarter product revenue to be in the range of $13 million to $14 million and is updating its full-year product revenue expectations to a range of $57 million to $61 million.
Shares in CFMS were up 2.10% to 27¢ apiece in premarket trading.