Charles Sternberg, Associate Editor03.02.23
Conformis Inc., an orthopedic medical device company that features personalized knee and hip replacement products, has shared financial results for the fourth quarter and year ended December 31, 2022.
The company reported total revenue of $17.4 million for the fourth quarter ended December 31, 2022, an increase of 13% year-over-year on a reported basis and 14% on a constant currency basis.
Product revenue for the fourth quarter was $14.2 million, a decrease of 7% year-over-year on a reported basis and 6% on a constant currency basis.
Total revenue increased 38% year-over-year on a reported and 37% on a constant currency basis to $1.1 billion for the full year ended December 31, 2022.
Product revenue for the full year was $57.8 million, a decrease of 1% year-over-year on a reported basis and flat year-over-year on a constant currency basis. The decrease in product revenue year-over-year was primarily due to declines in orders from U.S. hospitals offset by increases in orders from Ambulatory Surgery Centers (ASCs).
Conformis expects its first quarter product revenue to be in the range of $12 million to $13 million.
The company reported total revenue of $17.4 million for the fourth quarter ended December 31, 2022, an increase of 13% year-over-year on a reported basis and 14% on a constant currency basis.
Product revenue for the fourth quarter was $14.2 million, a decrease of 7% year-over-year on a reported basis and 6% on a constant currency basis.
Total revenue increased 38% year-over-year on a reported and 37% on a constant currency basis to $1.1 billion for the full year ended December 31, 2022.
Product revenue for the full year was $57.8 million, a decrease of 1% year-over-year on a reported basis and flat year-over-year on a constant currency basis. The decrease in product revenue year-over-year was primarily due to declines in orders from U.S. hospitals offset by increases in orders from Ambulatory Surgery Centers (ASCs).
Conformis expects its first quarter product revenue to be in the range of $12 million to $13 million.