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Declines in U.S. knee orders affected net sales.
August 7, 2023
By: Charlie Sternberg
Associate Editor
Conformis Inc., an orthopedic medical device company that features personalized knee and hip replacement products, has shared financial results for the second quarter ended June 30, 2023. Total revenue was $13.0 million, a decrease of 15% year-over-year on a reported and constant currency basis, primarily due to declines in U.S. knee orders following Conformis’ business model transition and manufacturing/supply chain challenges. Meanwhile, royalty and licensing revenue increased year-over-year as a result of revenue recognized under the License Agreements with Bodycad and Exactech. Product revenue was $12.5 million, a decrease of 17% year-over-year on a reported and constant currency basis. Conformis hip system revenue increased 30% year-over-year to $1.0 million.
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