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.
