ZimVie (ZIMV)
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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 ...
ZimVie (ZIMV) - 2022 Q1 - Earnings Call Transcript
2022-05-08 07:00
ZimVie Inc. (NASDAQ:ZIMV) Q1 2022 Earnings Conference Call May 5, 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 Matt Miksic - Credit Suisse Operator Good afternoon and welcome to ZimVie’s First 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 ...
ZimVie (ZIMV) - 2022 Q1 - Earnings Call Presentation
2022-05-06 11:12
Company Overview - ZimVie is a global dental and spine company with approximately 2,700 team members serving over 70 countries[5] - The company estimates a ~$20 billion global market opportunity[5, 15] - In 2021, ZimVie's third-party net sales reached $10 billion[5] - Sales by segment in 2021 were 54% Spine and 46% Dental[6] - Sales by geography in 2021 were 75% Americas, 13% EMEA, and 12% APAC[7] Dental Business - The global tooth replacement market is estimated at ~$8 billion[17, 21] - Dental 2021 sales were $469 million, with a revenue split of approximately 57% US and 43% OUS[17] - The company is the 2 global biomaterials company by revenue[17] - 93% of dental sales are direct to customers[17] Spine Business - The global spine surgery market is estimated at ~$12 billion[22, 25] - Spine 2021 sales were $540 million, with a revenue split of approximately 70% US and 30% OUS[22] Financial Performance and Guidance - Total net sales for Q1 2022 were $2356 million[47] - Third-party net sales for Q1 2022 were $2347 million, including $1206 million in Dental net sales and $1141 million in Spine net sales[47] - Adjusted EBITDA for Q1 2022 was $338 million, with a 144% adjusted EBITDA margin[47] - The company's 2022 full-year financial guidance includes net sales flat to 2021 third-party net sales ($10 billion), adjusted EBITDA margin flat to 50bps improvement (131% - 136%), and adjusted EPS of $210 - $230[49]
ZimVie (ZIMV) - 2022 Q1 - Quarterly Report
2022-05-04 16:00
Financial Performance - For the three months ended March 31, 2022, total net sales were $235.6 million, a decrease of 4.9% compared to $247.7 million in the same period of 2021[97]. - Spine product sales were $114.1 million, down 13.9% from $132.6 million in the prior year, while dental product sales increased by 6.4% to $120.6 million from $113.4 million[97]. - The spine segment's operating profit decreased to $5.1 million (4.5% of net sales) from $16.3 million (12.3% of net sales) in the previous year, primarily due to declining sales and increased pricing pressure[113]. - Cash flows used in operating activities were $9.9 million for the three months ended March 31, 2022, compared to cash flows provided of $20.0 million in the same period of 2021, due to a decline in profitability[115]. - The effective tax rate on loss before income taxes was 22.4% for Q1 2022, significantly lower than 324.7% in Q1 2021, influenced by prior losses calculated on a "carve-out" basis[110]. Cash and Debt Management - The company had $104.3 million in cash and cash equivalents as of March 31, 2022, up from $100.4 million at the end of 2021[114]. - Cash flows used in investing activities were $8.1 million for the three months ended March 31, 2022, a decrease from $14.2 million in the same period of 2021[116]. - Cash flows provided by financing activities were $22.2 million for the three months ended March 31, 2022, compared to cash flows used of $7.3 million in the same period of 2021[117]. - The company borrowed $595.0 million under a term loan on February 28, 2022, and repaid $34.0 million on March 1, 2022, transferring $540.6 million of the proceeds to Zimmer Biomet[119]. - As of March 31, 2022, the company had $561.0 million of floating rate debt potentially subject to SOFR, with a hypothetical 100 basis points increase in SOFR potentially decreasing annual pre-tax earnings by $5.6 million[126]. Market and Operational Insights - The company has a broad geographic revenue base with operations in approximately 25 countries, enhancing its market presence[93]. - The impact of COVID-19 has led to fluctuations in elective surgical procedures, affecting overall sales performance[94]. - The dental product category experienced strong growth in implants and digital products, contributing to the overall increase in dental sales[98]. Risk Management - The company is exposed to foreign currency exchange rate risks primarily with Euros, Chinese Renminbi, Israeli Shekel, New Zealand Dollar, and Swedish Krona, and manages this risk through derivative financial instruments[124]. - A 10% price change in raw material commodities such as cobalt chrome and titanium would not have a material effect on the company's financial position or cash flows[125]. - The company has no significant credit risk on cash and cash equivalents, as these are placed with highly rated financial institutions[127]. - Trade accounts receivable are concentrated in the healthcare industry, with exposure to public hospitals and healthcare sectors in various countries, particularly in Europe[128]. - The company believes that reserves for losses related to credit risk are adequate, despite potential exposure to government budget constraints affecting public hospitals[129]. Research and Development - Research and development expenses as a percentage of net sales increased to 7.5% in Q1 2022 from 5.4% in Q1 2021, reflecting an increase in share-based compensation[101].
ZimVie (ZIMV) - 2021 Q4 - Annual Report
2022-03-30 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, 2021 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 incorpor ...