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Message : Required fields DEERFIELD, Ill., May 10, 2021 (GLOBE NEWSWIRE) Surgalign Spine Technologies, (NASDAQ: SRGA) a global medical technology company focused on elevating the standard of care by driving the evolution of digital surgery, today reported operating results for the first quarter of 2021. Highlights: Total global spine revenue of $23.3 million, compared to $27.1 million in the first quarter of 2020 Net loss from continuing operations of $15.2 million inclusive of approximately $3.2 million of non-recurring charges Adjusted EBITDA loss of $9.8 million, compared to a loss of $20.1 million in the first quarter of 2020 Appointed Marc Mackey as Executive Vice President, Digital Surgery Submitted premarket notification, 510(k) for the Holo Surgical intelligent guidance system ....
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 ....