conformis

Conformis (Nasdaq:CFMS) shares ticked up today on first-quarter results that came in ahead of the consensus forecast.

Shares of CFMS rose 5.6% at $1.41 per share in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — fell 0.7%.

The Billerica, Massachusetts-based orthopedic device maker posted losses of $9.57 million. That amounts to $1.32 per share on sales of $12.84 million for the three months ended March 31, 2023. Its losses per share came in 7¢ ahead of Wall Street predictions. Sales topped analysts’ expectations of $12.57 million in revenue, too.

Conformis recorded nearly halved its losses from the same time last year on a sales decline of 17.45%.

The company attributed its product revenue slide to decliens in U.S. knee orders, according to a news release. This comes on the heels of a change in Conformis’ business model, as well as manufacturing…

Conformis (Nasdaq:CFMS) shares rose today on fourth-quarter results that came in ahead of the consensus sales forecast.

Shares of CFMS ticked up 1.7% to $1.75 apiece in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 0.4%.

The Billerica, Massachusetts-based orthopedic device maker posted losses of $3.7 million. That amounts to 51¢ per share on sales of $14.2 million for the three months ended Dec. 31, 2022.

Conformis reported a 76.7% bottom-line gain while remaining in the red. Its sales dipped year-over-year by 7.3%. Sales still topped Wall Street expectations as analysts projected $13.7 million in revenue.

The company attributed its revenue decrease to declines in orders from U.S. hospitals. However, it offset those dips with increases in orders from ambulatory surgery centers.

Conformis expects first-quarter product revenue to range between $1…

Conformis (Nasdaq:CFMS) announced today that it regained compliance with the Nasdaq market’s minimum bid price rule.

Billerica, Massachusetts-based maker of customized knee and hip replacements received a letter from the market notifying it of regained compliance on Nov. 25.

The letter said that the closing price of the company’s common stock registered at $1 per share or greater for 10 consecutive days. This occurred between Nov. 10 and Nov. 23. As such, Conformis regained compliance with the market’s listing requirement.

The company received a letter from Nasdaq on Dec. 31, 2021, notifying it of failure to comply with the requirement. That came following 30 consecutive business days in which CFMS traded below $1 per share.

Conformis said in a news release that the previously disclosed minimum bid price deficiency matter is now closed. Shares of CFMS closed the day up 12.9% at $2.80 apiece, well ahead of the $1 requ…

Conformis (Nasdaq:CFMS) today announced the first procedure performed with its new Actera hip system for hip reconstruction.

Billerica, Massachusetts-based Conformis designed its Actera hip system with a cutting-edge, tri-taper stem. It features a range of sizes and angles derived from Conformis’ deep data analytics of its patient database. The cementless hip stem component also includes a proximally coated titanium spray with a hydroxyapatite layer. This encourages initial and long-term fixation.

Dr. William Kurtz performed the hip replacement procedure at Ascension Saint Thomas Hospital in Nashville, Tennessee. He used a minimally invasive, direct-anterior approach.

“The Actera hip system is a great new option for hip reconstruction surgeons,” said Dr. Kurtz. “Conformis’ addition of a tri-taper stem design enables surgeons to treat a broader range of patient anatomies and the shorter length options offer easier access to the femur while maintaini…

Conformis’ Imprint knee system [Image courtesy of Conformis]Conformis (Nasdaq:CFMS) today announced the full commercial launch of its new Imprint knee system.

The orthopedic company’s new Imprint system is made-to-measure and will become Conformis’ primary knee offering. The company is also offering a fully personalized iTotal Identity system as a deluxe services upgrade option for patients through its Image-to-Implant Platinum Services program.

“We have been pleased with the surgeon feedback that we’ve received to date, and we are excited to see continued adoption of our Imprint system which reflects our business model transition,” said CEO and President Mark Augusti. “By introducing the new Made-to-Measure category of TKA systems, we created a new standard for personalization with the lower manufacturing cost and faster delivery time of typical fully custom products.”

Imprint uses several features from the Conformis’ fully personal…

Conformis (Nasdaq:CFMS) today posted third-quarter results that missed the earnings consensus on Wall Street but beat revenue estimates.

The Billerica, Massachusetts-based orthopedic device company reported losses of $15.2 million, or 8¢ per share, on sales of $13.78 million for the three months ended September 30 for a sales loss of 3.29% compared with Q3 2021.

Earnings per share were 1¢ behind The Street, where analysts were looking for sales of $13.72 million.

“We are gaining traction with Imprint and Platinum Services and remain confident in our long-term growth strategy,” Conformis President and CEO Mark Augusti said in a news release. “However, translating the positive feedback from surgeons and patients who are adopting our new products and service model into top-line revenue growth is taking longer than initially anticipated. Until our revenue growth resumes, we are taking proactive measures with our cost structure in order to preserve our …

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…

Conformis (Nasdaq:CFMS) this week posted first-quarter results that beat the revenue consensus on Wall Street but missed earnings estimates.

The Billerica, Massachusetts-based orthopedic device maker reported losses of $16 million, or -9¢ per share, on sales of $15.6 million for three months ended March 31, for a sales growth of 12.4% compared with Q1 2021.

Earnings per share were 2¢ behind The Street, where analysts were looking for sales of $14.01 million.

“We had another good quarter of progress on our Imprint and Platinum Services rollouts. Surgeon interest and feedback continue to be favorable and we are positioned well to benefit as elective arthroplasty procedure recovery takes hold in hospitals and ASC’s over the coming quarters. Traction on our topline and recovery of procedural levels will benefit our gross margins, which have been under pressure the past two quarters. We are acting decisively to reverse this trend and get back to our expected …