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We are a commercial-stage medical technology company exclusively focused on transforming the shoulder surgical care market. These systems are a core element of our ecosystem, which we designed to improve core components of shoulder surgical care preoperative planning, implant design and procedural efficiency to benefit each stakeholder in the care chain.
The business is unprofitable at the operating level (-55.58% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 49.6%, still solid. Margins contracted 9.2pp, which offsets some of the top-line progress.
Negative free cash flow of -$36M. The business is consuming cash, not generating it. Operating margin contracted 9.2pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$54M
▲ +49.6% YoY
Net Income (TTM)
-$44M
▼ -158.4% YoY
Op. Margin
-57.48%
▼ -9.2pp YoY
ROIC
-20.33%
▲ +54.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$44M
▼ -98.4% YoY
Op. Cash Flow (TTM)
-$34M
▼ -102.3% YoY
Net Debt
-$94M
Net Cash Position
Cash & Equiv.
$109M
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