After releasing its quarterly results, ZimVie Inc. (Nasdaq: ZIMV) shares were up 31.20% to trade at $9.63 in the open market at the time of the last check.
How well has ZIMV done?
After the market closed yesterday, ZimVie (ZIMV) released its financial results for the three-month period that concluded on September 30, 2022. A related conference call was also hosted by executives of ZimVie.
Featured Financial Items:
- Third-party net sales of $213.3 million, a net profit of $0.8 million, a net profit margin of 0.4%, and an adjusted net profit of $12.9 million were all reported by ZimVie for the quarter.
- ZIMV’s diluted earnings per share were $0.03, but on an adjusted basis, it was $0.49.
- ZIMV’s adjusted EBITDA margin increased by 13.8%, while adjusted EBITDA was $29.4 million.
- ZIMV possessed $116.0 million in cash and cash equivalents at the end of the quarter on September 30, 2022.
- Additionally, ZimVie updated its forecast for third-party net sales, adjusted EBITDA margin, and adjusted EPS for the entire year 2022.
ZIMV introduced a device
The TSX Implant, the most recent addition to ZimVie’s portfolio of surgical, restorative, and digital dentistry treatments was just made available in the United States. TSX Implants are intended to provide main stability in both soft and dense bone, predictability during implantation, and quick extraction and loading methods. In order to provide peri-implant health, crystal bone preservation, long-term osseointegration, and prosthetic durability, the TSX Implant includes characteristics with more than two decades of real-world, clinical evidence. 1-8, 11-13 The TSX Implant strengthens ZimVie’s dedication to streamlining operations and improving practice standards since it is integrated with their end-to-end digital workflows and designed for both surgical and restorative adaptability.
ZIMV’s assessment on the development:
The management of ZimVie (ZIMV) expressed satisfaction with the company’s operational development and the work being done to improve the portfolios in both dentistry and spine. The company’s TSX and T3 PRO Tapered dental implants and Encode Emergence Healing Abutment are gaining popularity, but ZIMV is still concentrating on developing new technologies for its core spine platform and expanding the usage of its therapeutically unique motion preservation products. ZimVie will keep transforming the company by strategically innovating in tactical areas.