Workflow
ZimVie (ZIMV)
icon
Search documents
ZimVie (ZIMV) - 2023 Q2 - Quarterly Report
2023-08-01 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to (Exact Name of Registrant as Specified in its Charter) Delaware 87-2007795 ( State or other jurisdiction of incorporation or organization) 10225 Westmoor Driv ...
ZimVie (ZIMV) - 2023 Q1 - Earnings Call Transcript
2023-05-04 15:51
Financial Data and Key Metrics Changes - Total third-party net sales for Q1 2023 were $225.1 million, a decrease of 4.1% on a reported basis and a decrease of 2.9% in constant currency [9] - Adjusted gross profit was $156 million, compared to $149.3 million in the prior-year period, with an adjusted gross margin of 69.3%, an increase of 570 basis points from 63.6% in Q1 2022 [28] - Adjusted EBITDA in Q1 2023 was $32.1 million or 14.3% of third-party net sales, reflecting a decline of 10 basis points from 14.4% in the prior-year period [29] Business Line Data and Key Metrics Changes - Global dental third-party net sales were $120.2 million, effectively flat on a reported basis and increased 1.8% in constant currency compared to the prior-year period [27] - In the U.S., dental third-party net sales of $69.9 million increased by 2.3%, while outside the U.S., sales of $50.3 million decreased by 3.8% on a reported basis but increased 1.1% in constant currency [73] - First-quarter global spine third-party net sales were $104.9 million, an 8.1% decrease on a reported basis and a 7.8% decrease in constant currency compared to the prior-year period [73] Market Data and Key Metrics Changes - The impact of exiting the China market is estimated to be $2.4 million or 2.4 percentage points of consolidated spine growth [10] - The spine business continues to face competition, affecting sales performance [73] Company Strategy and Development Direction - The company is focused on commercial execution and innovation, with plans to position the business for growth into 2024 and beyond [4] - Recent product launches in the dental segment, including the RealGUIDE software and new bone graft solutions, aim to enhance efficiency and expand market presence [5][24] - The partnership with Brainlab is expected to enhance workflow and accuracy in spinal surgeries, indicating a strategic focus on integrating technology with product offerings [7] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the operational improvements and commercial focus, indicating a belief that the company is on a path to stabilization [39] - The company revised its expected 2023 net sales to a range of $835 million to $860 million, reflecting a positive outlook despite challenges [30] - Management acknowledged the need for prudence due to external factors impacting the business [49] Other Important Information - The company prepaid $10.5 million of debt in Q1 2023, indicating a commitment to reducing leverage [12] - The dental business is well-positioned to grow and generate cash flow, supported by recent product innovations and customer engagement [6] Q&A Session All Questions and Answers Question: What does the sales cadence look like for dental and spine for the rest of the year? - Management indicated that while Q1 was strong, they are cautious about predicting sales for the rest of the year due to various factors impacting the business [17] Question: How does SG&A expense relate to revenue and what are the expectations moving forward? - Management noted that SG&A expenses are expected to remain higher than the prior year for Q2 and Q3 2023, but they anticipate improvements in gross margin to offset some of these costs [11][36] Question: Can you provide insights on the dental market performance relative to competitors? - Management stated that they believe they are performing at or better than the market for premium dental implants, attributing success to their commercial team's efforts and product innovations [40][59]
ZimVie (ZIMV) - 2023 Q1 - Earnings Call Presentation
2023-05-04 15:06
| --- | --- | |--------------------------------------------------|-------| | | | | Supplemental Financial Information May 3, 2023 | | Disclaimer FORWARD-LOOKING STATEMENTS AND NON-GAAP MEASURES Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements within the meaning of federal securities laws, including, among others, any statements about our expectations, plans, intentions, strategies or prospects. We generally use the words " ...
ZimVie (ZIMV) - 2023 Q1 - Quarterly Report
2023-05-02 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41242 ZIMVIE INC. (Exact Name of Registrant as Specified in its Charter) Delaware 87-2007795 ( State or other jurisdiction of inc ...
ZimVie (ZIMV) - 2022 Q4 - Earnings Call Transcript
2023-03-02 00:47
ZimVie Inc. (NASDAQ:ZIMV) Q4 2022 Earnings Conference Call March 1, 2023 4:30 PM ET Company Participants Marissa Bych - Investor Relations Vafa Jamali - President & Chief Executive Officer Rich Heppenstall - Chief Financial Officer Conference Call Participants Robbie Marcus - JPMorgan Operator Good afternoon and welcome to ZimVie's Fourth Quarter and Full Year 2022 Earnings Conference Call. Currently, all participants are in a listen-only mode. We will be facilitating question-and-answer session towards the ...
ZimVie (ZIMV) - 2022 Q4 - Annual Report
2023-02-28 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41242 ZIMVIE INC. (Exact name of Registrant as specified in its Charter) (State or other jurisdiction of incorporation or organizatio ...
ZimVie (ZIMV) - 2022 Q3 - Earnings Call Transcript
2022-11-12 22:03
ZimVie Inc. (NASDAQ:ZIMV) Q3 2022 Results Conference Call November 9, 2022 4:30 PM ET Company Participants Marissa Bych - Gilmartin Group IR Vafa Jamali - President and CEO Rich Heppenstall - CFO Conference Call Participants Operator Good afternoon, and welcome to ZimVie's Third Quarter 2022 Earnings Conference Call. [Operator Instructions] As a reminder, this call is being recorded for replay purposes. I would now like to turn the call over to Marissa Bych from Gilmartin Group Investor Relations for a few ...
ZimVie (ZIMV) - 2022 Q2 - Earnings Call Transcript
2022-08-11 05:35
ZimVie Inc. (NASDAQ:ZIMV) Q2 2022 Earnings Conference Call August 10, 2022 4:30 PM ET Company Participants Marissa Bych - Investor Relations Vafa Jamali - President and Chief Executive Officer Rich Heppenstall - Chief Financial Officer Conference Call Participants Robbie Marcus - JPMorgan Operator Good day and thank you for standing by. Welcome to the ZimVie’s Second Quarter 2022 Earnings Call. [Operator Instructions] Please be advised that today’s conference is being recorded. I would now like to hand the ...
ZimVie (ZIMV) - 2022 Q2 - Earnings Call Presentation
2022-08-11 05:35
| --- | --- | |-------------------------------------|-------| | | | | Investor Presentation August 2022 | | Disclaimer FORWARD-LOOKING STATEMENTS AND NON-GAAP MEASURES Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 This presentation contains forward-looking statements within the meaning of federal securities laws, including, among others, any statements about our expectations, plans, intentions, strategies or prospects. We generally use the words "may," "will," "expects," " ...
ZimVie (ZIMV) - 2022 Q2 - Quarterly Report
2022-08-09 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ZIMVIE INC. (Exact Name of Registrant as Specified in its Charter) Delaware 87-2007795 ( State or other jurisdiction of incorporation or organization) (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commiss ...