K2M reports preliminary annual growth of 17% for 2015

K2M Group Holdings Inc. recently reported preliminary financial results for the fourth quarter and full year ended Dec. 31, 2015. The company reported revenue of $216 million to $216.3 million in 2015, up approximately 16% year-over-year, or 17% on a constant currency basis.

According to a company press release, revenue also increased during the fourth quarter of 2015. The total fourth-quarter revenue increased from $54.1 million to $54.4 million, up approximately 10% to 11% year-over-year. Domestic fourth-quarter revenue of $39.2 million increased to $39.4 million, up approximately 10% year-over-year.

The company reported growth of approximately 20% year-over-year in the U.S. minimally invasive spine market, as well as a growth of approximately 6% year-over-year in U.S. market for the degenerative spine. The U.S. market for complex spine also saw a 12% growth year-over-year.

“Our preliminary financial results for the full year of 2015 reflect total revenue growth of approximately 17% year-over-year on a constant currency basis, fueled by our strong complex spine portfolio,” Eric Major, president and chief executive officer of K2M, said in a press release.

The company predicted revenue guidance of $246 million to $250 million, or 14% to 16% year-over-year, on an as reported basis for 2016.

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