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Tag: SRGA STOCK PRICE

  • Surgalign Holdings, Inc. (SRGA) plunged in the After-Hours; here is why?

    Surgalign Holdings, Inc. (SRGA) plunged in the After-Hours; here is why?

    Surgalign Holdings, Inc. (SRGA) declined in the after-hours market after announcing its fourth quarter and fiscal 2022 results. SRGA values at $0.33, losing more than 17% compared to yesterday’s closing price. The stock closed at $0.31 at the end of the last trading session. The stock volume traded in the previous trading session was around 4.29 million shares. The current market cap of the company is about $65.59 million.

    SRGA: Q4 and Fiscal 2021 Key Financials

    • Surgalign Holdings, Inc.’s revenue in Q4 2021 was $21.8 million, compared to the revenue of $26.1 million in Q4 2020.
    • Fiscal 2021 revenue was $90.5 million, more than the revenue of $101.75 million in fiscal 2020.
    • The company’s net loss in Q4 2021 was around $45.3 million, less than compared to the net loss of $100.04 million in Q4 2020.
    • SRGA’s net loss in fiscal 2021 was around $84.65 million, and profitability declined compared to the net loss of $33.79 million in fiscal 2020.
    • The Q4 2021 loss per share was $0.33, compared to a net loss of $1.28 in Q4 2020.
    • For fiscal 2021, the loss per share was $0.69, compared to $0.45 in fiscal 2020.

    SRGA President and CEO’s Remarks

    Terry Rich, President, and CEO of Surgalign Holdings said that despite the continued challenges, the company is pleased with its accomplishments in 2021 and early 2022. I want to congratulate all of our workers for their dedication to our customers while creating HOLO, which we think will revolutionize surgical processes and patient care. Aside from COVID-related procedural limits and hospital staffing difficulties, which remained in the first two months of 2022, the fourth quarter performance met our expectations.

    SRGA 2022 Revenue Outlook

    Shedding light on its revenue expectations for the whole fiscal 2022, the company said that they expect revenue between $83 million to $87 million.

    Conclusion

    The company’s performance was severely affected by Covid-19, but the company stated that the results were not unexpected for them. The results matched their forecasted estimation. The company has now provided its revenue guidance for 2022, which they expect would be achievable.

  • Surgalign Holdings Inc. (SRGA) stock plummeted more after poor financial results announced

    Surgalign Holdings Inc. (SRGA) stock plummeted more after poor financial results announced

    Surgalign Holdings Inc. (SRGA) stock plummeted on Tuesday, March 16, 2021. SRGA lost 3.83% in the normal trading session and it further went down by 13.94% in the after-hours trading. SRGA stock announced its financial results for the fourth quarter and full-year 2020, yesterday March 16 which push the stock towards negativity.

    Financial Highlights for the fourth quarter of 2020

    • SRGA revenue was $26.2 million for the quarter ended December 31, 2020, compared to $31.6 million for the prior-year period.
    • SRGA’s Gross profit for the fourth quarter of 2020 was $12.8 million.
    • Surgalign Holdings spent $27.3 million in Marketing, general and administrative expenses in the reported quarter compared to $39.9 million same quarter in 2019.
    • R&D expense for the fourth quarter of 2020 was $2.2 million compared to $4.4 million in the prior-year period.
    • Adjusted EBITDA was a $7.7 million loss for the reported quarter compared to a $14.3 million loss in the prior-year period.
    • SRGA suffered a Net loss of $118.1 million from continuing operations for the fourth quarter of 2020 compared to $199.6 million for the fourth quarter of 2019.
    • SRGA had approximately $44 million in cash as of December 31, 2020.

    Commercial Launch of ViBone® Moldable and the First Clinical Implantation

    On January 12, 2021, SRGA announced the commercial launch and the completion of the first surgery of ViBone Moldable in the US. Dr. Adam Crowl completed the first implantation at OrthoVirgina in Midlothian, VA.ViBone Moldable is a next-generation viable cell bone matrix optimized to protect and preserve the health of native bone cells to potentially enhance new bone formation.

    Conclusion

    If we see in the past, SRGA is facing tough times, and over three years, the share price is down 53%. In the recent past, it dropped 34% in the last year. According to analyst predictions, SRGA needs at least 3 years more to turn things around and to make a profit.