Conformis (NSDQ:CFMS) posted fourth-quarter results that beat the earnings consensus on Wall Street and matched on revenue.
The Billerica, Mass.-based company reported losses of -$6.6 million, or -8¢ per share, on sales of $16.7 million for the three months ended Dec. 31, 2020, for a sales loss of -16.1% compared with Q4 2019.
Earnings per share were -8¢, 2¢ ahead of The Street, where analysts were looking for sales of $16.6 million.
“Though the COVID-19 pandemic continues to create uncertainty in orthopedic procedure levels, Conformis has remained committed to the continuation of our new product development schedule. As such, we expect 2021 to be an exciting year in regards to new product offerings, especially our new total knee system. While this system can be used in the in-patient and out-patient settings, we are particularly focused on the ambulatory care setting,” president and CEO Mark Augusti said in a news release. “Our recently completed $85 million capital raise gives us the flexibility to drive our growth strategy.”
Conformis said it expects first-quarter product revenue to be in the range of $13 million to $14 million. It did not provide a full-year outlook.
Shares in CFMS were down -9.16% to 99¢ apiece in pre-market trading.
