Various alternative therapies and treatments for fractures, which include synthetic bone grafts, amputation, and allografts, as well as non-invasive therapies, such as electrical bone growth stimulation and low-intensity ultrasound stimulations, have been introduced, which are responsible for driving the global bone growth stimulators market.
Gross profit decreased $1.7 million to $79.7 million. Gross margin decreased to 75.5% compared to 77.7% in the prior year period.
Net loss was $(5.8) million, or $(0.30) per share, compared to net income of $25.7 million, or $1.32 per share in the prior year period. Adjusted net income was $3.4 million, or $0.17 per share, compared to adjusted net income of $1.7 million, or $0.09 per share in the prior year period.
EBITDA was $1.8 million, compared to $12.4 million in the prior year period. Adjusted EBITDA was $14.0 million, or 13.3% of net sales, compared to $11.4 million, or 10.9% of net sales, in the prior year period.
Liquidity
As of March 31, 2021, cash, cash equivalents, and restricted cash totaled $95.1 million compared to $96.8 million as of December 31, 2020. As of March 31, 2021, the Company had no borrowings under its five year $300 million secured revolving credit facility. Cash flow from operations decreased $10.0 million to $2.4 million, while free cash flow dec
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Market Analysis
The global Wireless Audio Devices Market is highly lucrative and predicted to witness significant growth at a 17% CAGR over the forecast period (2016-2027), reveals the Market Research Future (MRFR) report. Wireless audio devices get audio signals through RF or radiofrequency waves and not cables. Generally, they have two units- a sound outputting device or the main speaker connected with the RF transmitter and RF receiver. The transmitter is connected to the source where radio signals are created, and the receiver is attached to the speaker that gets the outputs audio and signals. The radio frequencies or transmission of signals can be attained using different wireless technologies like Wi-Fi, airplay, Bluetooth, or others.