NuVasive saw an increase in net sales, but a decrease in net income during the first quarter of 2021.
Five takeaways from its financial results released May 5:
1. Net sales were $271.2 million. That's a 4.4 percent increase compared to the same period last year. The increase was credited to month-over-month improvement in U.S. procedural volumes and low double-digit international growth.
2. The company saw a GAAP net loss of $7.5 million, or diluted loss per share of $0.15.
3. NuVasive had a non-GAAP net income of $19 million, which is down 25.2 percent compared to the first quarter last year.
4. NuVasive retired $650 million of convertible debt at maturity and funded the $150 million payment to acquire Simplify Medical.
5. The company has seen positive feedback on the Simplify Medical acquisition, and it plans to launch the Pulse platform later this year.