ConforMIS announces financial results for the third quarter of 2017

ConforMIS Inc. announced financial results for the third quarter, which ended Sept. 30, 2017.

“We are pleased with our third-quarter results as we saw improved commercial performance in the United States and excellent progress in our operating performance for the quarter,” Mark Augusti, president and CEO of ConforMIS, said in the release. “We are especially pleased with our continued progress on gross margin realizing an 800-basis point improvement over prior year. Consistent with what we have communicated previously, we remain on track as we enter the last quarter of the year.”

According to the release, the total revenue for the third quarter was $18.4 million, a $0.2 million decrease, or a 1.6% decrease on a constant currency basis. The gross profit was $7.3 million, a $1.3 million increase from $6 million in the third quarter of 2016. The total operating expenses were $20.2 million, a $1.3 million increase or 7% year-over-year.

In the third quarter of 2017, the net loss was $12.5 million, $0.29 per basic share, whereas the net loss from third quarter of 2016 was $12.8 million, $0.31 per basic share. Cash and cash equivalents and investments for the company as of Sept. 30, 2017 totaled $54.5 million vs. $65.5 million as of Dec. 31, 2016.

Reference: