ZimVie reports third-quarter 2023 financial results
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Key takeaways:
- ZimVie released its third-quarter 2023 financial results.
- The company reported decreased net sales and a net loss during the quarter.
ZimVie Inc. has reported decreased net sales in its third-quarter 2023 financial results, according to a press release.
ZimVie reported $202.9 million in net sales for the third quarter of 2023, a decrease of 4.9% on a reported basis and 5% on a constant currency basis compared with the prior year period. The company reported a net loss of $5.1 million and a net loss margin of 2.5% for the third quarter of 2023. ZimVie reported adjusted earnings before interest, taxes, depreciation and amortization of $25.8 million, according to the release.
“In the third quarter, we continued to make progress on our innovation platform as we work to actively reshape our portfolio and further penetrate into the markets with the best long-term growth potential,” Vafa Jamali, president and CEO of ZimVie, said in the release.
“In parallel, we are improving our operating efficiency and working to increase our cash position,” Jamali said.
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