Core Insights - ZimVie Inc. has published a scientific study indicating that its premium dental implants may reduce the risk of peri-implant infections compared to other implants available in the market [1][2][3] Group 1: Study Findings - The study, published in the Journal of Biomedical Materials Research, evaluated ZimVie's dual acid-etched coronal surface technology against other leading implant brands [2] - The research highlights a critical threshold roughness for implant surfaces, where rougher surfaces increase bacterial adhesion, while ZimVie's implants maintain adhesion levels comparable to smooth machined surfaces [3] - ZimVie's Contemporary Hybrid Surface technologies are designed to mitigate the rising prevalence of peri-implant mucositis and peri-implantitis [3] Group 2: Product Information - TSX Implants, launched in 2022, are engineered for immediate extraction and standard loading protocols, focusing on primary stability and crestal bone maintenance [4] - T3 PRO Implants, also launched in 2022, feature a hybrid surface design that promotes high primary stability and immediate function, with clinical studies supporting their safety and performance [5] Group 3: Company Overview - ZimVie is a global leader in the dental market, dedicated to developing and delivering a comprehensive range of products for dental tooth replacement and restoration [7] - The company operates from its headquarters in Palm Beach Gardens, Florida, and aims to enhance patient outcomes through advanced clinical science and technology [7]

Financial Performance - Total net sales for the three months ended September 30, 2024, were $103.2 million, a decrease of 2.0% compared to $105.3 million in the same period of 2023[84]. - For the nine months ended September 30, 2024, total net sales were $338.2 million, down 1.8% from $344.4 million in 2023[85]. - The company experienced a price decline of 1.1% in net sales for the nine months ended September 30, 2024, primarily due to pricing pressures in North America and China[85][87]. - Foreign exchange fluctuations had a small positive effect on year-over-year sales for the three months ended September 30, 2024, mainly due to the strengthening of the Euro[88]. Expenses - Research and development expenses increased to 6.7% of net sales in the three months ended September 30, 2024, compared to 5.4% in the same period of 2023[92]. - Selling, general and administrative expenses rose to 55.5% of net sales in the three months ended September 30, 2024, up from 53.7% in the prior year[89]. - Cost of products sold as a percentage of net sales decreased to 34.7% in the three months ended September 30, 2024, from 35.0% in the same period of 2023[89]. - Restructuring and other cost reduction initiatives recognized expenses of $0.7 million in the three months ended September 30, 2024, compared to $1.4 million in the same period of 2023[95]. Cash Flow and Liquidity - Cash and cash equivalents were $68.1 million as of September 30, 2024, down from $87.8 million at the end of 2023[103]. - Cash flows from operating activities were $(7.3) million for the nine months ended September 30, 2024, compared to $15.7 million in the same period of 2023[104]. - Cash flows from investing activities were $285.2 million for the nine months ended September 30, 2024, primarily from the sale of the spine segment[105]. - Cash flows used in financing activities were $295.4 million for the nine months ended September 30, 2024, including a $275.0 million prepayment on the Term Loan[106]. - The company believes available cash and cash equivalents will be sufficient to meet liquidity needs for at least the next 12 months[108]. Debt and Interest - As of September 30, 2024, the company had $221.9 million of floating rate debt subject to SOFR, with a potential $2.2 million decrease in annual pre-tax results from a 100 basis points increase in SOFR[113]. - Interest income increased due to the promissory note from the sale of the spine segment[98]. - Interest expense decreased due to a reduction in outstanding debt and interest rates[99]. Legal Matters - The company is subject to various claims and legal proceedings, but does not expect a material adverse impact on results of operations, cash flows, or financial position[119]. - The outcome of legal matters is unpredictable and could have a material adverse effect on financial position, results of operations, or cash flows[119]. Other Significant Events - The company recorded a gain of $11.3 million from the sale of its spine segment, which was completed on April 1, 2024, for a total purchase price of $377.2 million[75]. - The company initiated restructuring activities in January 2024 to better support its dental segment following the sale of the spine segment[80]. - Other income related to TSA income was $3.2 million and $6.6 million for the three and nine months ended September 30, 2024 and 2023, respectively[97]. - The effective tax rate (ETR) on loss before income taxes was 18.4% for Q3 2024 compared to (3.3%) for Q3 2023[100]. - There were no changes in internal control over financial reporting during the three months ended September 30, 2024[117].

Financial Performance - Third party net sales for Q3 2024 were $103.2 million, a decrease of 2.0% on a reported basis and 2.2% in constant currency compared to Q3 2023[3]. - Net loss for Q3 2024 was $(3.0) million, an improvement of $7.2 million from a net loss of $(10.2) million in Q3 2023, with a net loss margin of 3.0%[4]. - Adjusted EBITDA for Q3 2024 was $13.1 million, representing a margin of 12.7%, an increase of $0.9 million or 110 basis points from Q3 2023[5]. - Adjusted net income for Q3 2024 was $3.3 million, an increase of $2.1 million compared to Q3 2023[4]. - Adjusted diluted EPS for Q3 2024 was $0.12, while basic and diluted EPS were $(0.11)[5]. - The net loss margin improved by 670 basis points from 9.7% in Q3 2023 to 3.0% in Q3 2024[4]. - The company reported a basic loss per share from continuing operations of $(0.11) for the three months ended September 30, 2024, compared to $(0.38) for the same period in 2023[17]. - Adjusted Net Income for the three months ended September 30, 2024, was $3,283 thousand, resulting in a Diluted EPS of $0.12, compared to a Diluted EPS of $(0.38) in 2023[22]. Sales and Revenue - Total net sales for the three months ended September 30, 2024, were $103,222, a decrease of 2.0% compared to $105,311 for the same period in 2023[17]. - U.S. Dental Net Sales for the nine months ended September 30, 2024, were $202,414 thousand, down 0.9% from $204,173 thousand in 2023[20]. - International Dental Net Sales for the three months ended September 30, 2024, decreased by 6.0% to $37,872 thousand from $40,308 thousand in 2023[20]. - Total Third Party Sales for the nine months ended September 30, 2024, were $338,228 thousand, down 1.7% from $344,131 thousand in 2023[24]. - The company reported a Constant Currency % Change in Total Dental Net Sales of (2.2%) for the three months ended September 30, 2024[20]. Guidance and Projections - The company updated its full-year 2024 guidance, projecting net sales of $450 million to $455 million and adjusted EBITDA of $60 million to $62 million[5]. Expenses and Costs - Cost of products sold for Q3 2024 was $(35,820) thousand, a decrease from $(36,907) thousand in Q3 2023, representing a 2.9% reduction[25]. - Adjusted cost of products sold, excluding intangible asset amortization, was $(35,533) thousand in Q3 2024, compared to $(36,614) thousand in Q3 2023, reflecting a 2.9% decrease[25]. - Research and development expenses for Q3 2024 totaled $(6,926) thousand, up from $(5,677) thousand in Q3 2023, indicating an increase of 22.1%[25]. - Selling, general and administrative expenses for Q3 2024 were $(57,313) thousand, slightly higher than $(56,505) thousand in Q3 2023, a 1.4% increase[25]. - The percentage of adjusted cost of products sold to net sales for Q3 2024 was 34.4%, slightly lower than 34.8% in Q3 2023[25]. Cash Flow and Assets - Cash and cash equivalents decreased to $66,808 as of September 30, 2024, from $71,511 as of December 31, 2023[18]. - Total assets decreased to $782,948 as of September 30, 2024, from $1,205,345 as of December 31, 2023[18]. - Net cash used in operating activities for the nine months ended September 30, 2024, was $(7,276), compared to $15,694 for the same period in 2023[19]. Company Strategy and Investments - The company is focusing on operational improvements and has made investments in sales force, R&D initiatives, and training programs for future expansion[2]. - The company is committed to advancing clinical science and technology in the dental market, focusing on product development and market expansion[7]. Other Financial Metrics - The company incurred $(20,285) thousand in research and development expenses for the nine months ended September 30, 2024, compared to $(19,365) thousand in the same period of 2023, an increase of 4.7%[25]. - The company reported a net impact of $(476) thousand from share-based compensation modification in Q3 2024, compared to no such expense in Q3 2023[25].

Core Viewpoint - ZimVie Inc. will report its financial results for Q3 2024 on October 30, 2024, after market close, with a conference call scheduled for 4:30 p.m. Eastern Time [1]. Company Overview - ZimVie is a global leader in the dental market, focusing on developing, manufacturing, and delivering a comprehensive portfolio of products for dental tooth replacement and restoration [2]. - The company is headquartered in Palm Beach Gardens, Florida, and operates additional facilities worldwide, aiming to enhance smiles, function, and confidence through its dental solutions [2]. - ZimVie offers a range of products, including dental implants, biomaterials, and digital workflow solutions, and is committed to advancing clinical science and technology in the dental field [2].

Core Insights - The Mexican spinal implant and vertebral compression fracture (VCF) market was valued at over $135 million in 2023 and is projected to grow at a CAGR of 6.1%, exceeding $205 million by 2030 [1][3]. Market Overview - The report covers various segments including cervical fixation devices, thoracolumbar fixation devices, interbody devices, motion preservation devices, VCF treatment, electrical stimulation devices, and spinal surgery instrumentation [2][6]. - The market analysis includes unit sales, average selling prices, market value, and growth trends, with projections extending to 2030 and historical data from 2020 [3][7]. Market Trends - There is a growing interest in minimally invasive surgery (MIS) in Mexico, which is gaining popularity due to shorter recovery times and fewer complications, although its adoption is still behind more advanced markets [3]. - The healthcare system in Mexico is primarily hospital-focused, resulting in a lower rate of outpatient procedures compared to other Latin American countries, which poses challenges for the adoption of advanced surgical technologies [4]. Competitive Landscape - ZimVie/Highridge Medical is the market leader in 2023, holding significant shares in cervical fixation, thoracolumbar fixation, and interbody device segments, supported by a strong distribution network [5]. - Medtronic ranks as the second-largest player, leading in the VCF segment with its PVA device, while DePuy Synthes is third, primarily generating revenue from fixation devices [5]. Market Segmentation - Cervical fixation devices include anterior and posterior types, while thoracolumbar fixation devices are categorized based on degenerative treatments and approaches [6]. - Interbody devices encompass various types such as ALIF, PLIF, and expandable devices, while motion preservation devices include artificial discs and dynamic stabilization [6]. Research Scope - The report covers the Mexican market with a base year of 2023 and a forecast period from 2024 to 2030, including quantitative and qualitative analyses of market size, procedure volume, and competitive dynamics [7][8].

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was $117 million, reflecting a decrease of 1.5% in reported rates and a modest decline of 0.4% in constant currency [11][12] - Adjusted EBITDA for Q2 2024 was $16.1 million, representing a margin of 13.8% [14] - Adjusted earnings per share for Q2 2024 was $0.13 on a fully diluted share count of 27.4 million shares [14] Business Line Data and Key Metrics Changes - The dental implant portfolio saw strong traction with new products, contributing to market share gains [4][5] - Biomaterials offerings experienced modest growth, outpacing market growth, indicating potential future growth for implant offerings [7] - The digital portfolio grew high single digits, driven by over 20% growth in the Implant Concierge service [8][10] Market Data and Key Metrics Changes - U.S. third-party net sales for Q2 2024 were $69.3 million, a slight increase of 0.1% [11] - Outside the U.S., third-party net sales were $47.5 million, a decrease of 3.8% on a reported basis [12] - The Asia Pacific market showed a reported decline of 6.9%, but grew 1.1% in constant currency, indicating stability in certain regions like Japan and India [39] Company Strategy and Development Direction - The company aims to enhance its premium dental implant market position while expanding its digital capabilities [20] - Focus on innovation in product offerings, including the introduction of GenTek Restorative Components and partnerships with Medit for imaging solutions [6][9] - The strategy includes improving operational efficiency and achieving a 15% plus adjusted EBITDA margin by April 2025 [15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the execution and resilience of the portfolio despite market challenges [10][18] - The outlook for Q3 2024 anticipates a sequential decline in revenue due to seasonal impacts, with expected adjusted EBITDA margins around 12% [16][26] - Management remains cautious about market recovery, indicating that underlying challenges persist [26] Other Important Information - The company finalized the sale of its Spine business on April 1, 2024, which is reflected in discontinued operations [11] - Cash as of the end of Q2 2024 was $78.6 million, with gross debt approximately $235 million [15] Q&A Session Summary Question: Company positioning within dental market - Management highlighted the unique assets and premium positioning in the dental implant market, focusing on organic growth and potential complementary product categories [19][20] Question: Impact of iTero Lumina's restorative launch delay - Management acknowledged the delay's impact on 2024 projections, attributing missed digital sales primarily to scanner sales [22][23] Question: Q3 revenue guidance and market demand - Management indicated that Q3 is expected to be lower due to seasonal trends, with cautious optimism about patient demand stabilizing [25][26] Question: Insights from planning software and market trends - Management noted growth in guided surgery and biomaterials as leading indicators of market stabilization [32][33] Question: Strategic considerations regarding potential partnerships - Management emphasized the importance of maintaining differentiation and open strategies in the market, while being prepared for future opportunities [35][36] Question: Capacity and performance in Asia - Management reported minimal exposure to China, with positive growth in other Asia Pacific markets like India and Australia [38][39]

Those interested in listening to the conference call should register online here. Participants are encouraged to register more than 15 minutes before the start of the call. A replay of the webcast will be available at investor.zimvie.com Allison Johnson • Allison.Johnson@ZimVie.com (561) 319-6130 ZimVie is a global life sciences leader in the dental market that develops, manufactures, and delivers a comprehensive portfolio of products and solutions designed to support dental tooth replacement and restoratio ...

PALM BEACH GARDENS, Fla., May 16, 2024 (GLOBE NEWSWIRE) -- ZimVie Inc. (Nasdaq: ZIMV), a global life sciences leader in the dental market, today announced that the company will be participating in two upcoming investor conferences. ZimVie will be presenting at the upcoming Stifel 2024 Jaws & Paws Conference. ZimVie's management is scheduled to present on Thursday, May 30, 2024, at 11:30 a.m. Eastern Time. ZimVie's management will also be presenting at the 45th Annual Goldman Sachs Global Healthcare Conferen ...

PALM BEACH GARDENS, Fla., May 16, 2024 (GLOBE NEWSWIRE) -- ZimVie Inc. (Nasdaq: ZIMV), a global life sciences leader in the dental market, today announced that the company will be participating in two upcoming investor conferences. Investor Contact Information: Gilmartin Group LLC Marissa Bych • Marissa@gilmartinir.com ZimVie will be presenting at the upcoming Stifel 2024 Jaws & Paws Conference. ZimVie's management is scheduled to present on Thursday, May 30, 2024, at 11:30 a.m. Eastern Time. ZimVie's manag ...

ZimVie Inc. (NASDAQ:ZIMV) Q1 2024 Earnings Conference Call May 8, 2024 4:30 PM ET Company Participants Marissa Bych - IR, Gilmartin Group LLC Vafa Jamali - President and CEO Richard Heppenstall - CFO Conference Call Participants Matt Miksic - Barclays Operator Good afternoon and welcome to ZimVie's First Quarter 2024 Earnings Conference Call. Currently, all participants are in a listen-only mode. We will be facilitating a question-and-answer session towards the end of today's call. As a reminder, this call ...