Fact checked byGina Brockenbrough, MA

Read more

August 13, 2023
1 min read
Save

Conformis reports $13 million in revenue in second quarter

Fact checked byGina Brockenbrough, MA
You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

We were unable to process your request. Please try again later. If you continue to have this issue please contact customerservice@slackinc.com.

Conformis Inc. has reported a 15% decrease in total revenue from the prior year period in its second-quarter 2023 financial results, according to a company press release.

Conformis reported $13 million in total revenue for the second quarter of 2023. This was a 15% decrease from the $15.3 million in total revenue for the second quarter of 2022. The company attributed the decrease to declines in U.S. knee orders after a business model transition and manufacturing and supply chain issues.

Generic Industry News infographic

Conformis also reported an increase in product gross profit margin of 38% compared with 35% from the prior year period. Total gross profit was $1.8 million, $3.6 million less than the prior year period. The company attributed the decrease to a settlement paid in connection with the Osteoplastic settlement and license agreement.

Royalty and licensing revenue increased 244% year-over-year, from $153,000 in 2022 to $527,000 in 2023 as a result of revenue recognized by license agreements with Bodycad and Exactech.

Conformis previously announced a merger agreement to be acquired by restor3d. A special meeting of Conformis stockholders will take place Aug. 31 to adopt the merger agreement.