Conformis Reports Preliminary Second Quarter Revenue Results, Amendment to Credit Agreement
Earnings Call to be Hosted on
Expected Q2 Summary:
- Total revenue of approximately
$19.5 million, down 1% year-over-year on a reported and constant currency basis
- Royalty revenue of
$9.7 million, including a royalty settlement of $9.6 million
- Product revenue of approximately
$9.7 million, down 50% year-over-year on a reported and constant currency basis U.S.product revenue of approximately $8.3 million, down 52% year-over-year on a reported basis
- Rest of world product revenue of approximately
$1.4 million, down 34% year-over-year on a reported basis and 33% on a constant currency basis
“As expected, the second quarter was impacted by the novel coronavirus (COVID-19) pandemic,” said
“In order to better describe the revenue performance underlying the quarter
Credit Agreement Amendment
“For companies with credit facilities, the impact of COVID-19 on business operations has undoubtedly made it difficult for many of them to satisfy some or all of their financial covenants. We reported on
Second Quarter Earnings Call Announcement
To attend by telephone, please use the information below for dial-in access. When prompted on dial-in, please utilize conference ID: 4393118.
Participant conference numbers: (844) 286-1554 (
Please dial in at least 10 minutes before the call to ensure timely participation.
The webcast will be hosted by
The online archive of the webcast will be available on the Company’s website at ir.conformis.com for 30 days.
These preliminary results are being provided in advance of the Company’s
Cautionary Statement Regarding Forward-Looking Statements
Statements in this press release about our future expectations, plans and prospects, including statements about the anticipated impact of the novel coronavirus (COVID-19) pandemic and the actions we are taking and planning in response, the anticipated timing of our product launches, the extent to which restrictions on elective surgeries will continue to be relaxed and demand for procedures will increase, our ability to satisfy quarterly financial covenants, and our financial position and results, total revenue, product revenue, gross margin, operations and growth, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. We may not actually achieve the forecasts disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual financial results could differ materially from the projections disclosed in the forward-looking statements we make as a result of a variety of risks and uncertainties, including risks related to COVID-19 and the response to the pandemic; whether our cash resources will be sufficient to fund our continuing operations for the periods anticipated; risks related to our estimates and expectations regarding our revenue, gross margin, expenses, revenue growth and other results of operations, and the other risks and uncertainties described in the “Risk Factors” sections of our public filings with the
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Source: Conformis, Inc.