ZimVie Reports Fourth Quarter and Full Year 2024 Financial Results

Core Insights - ZimVie Inc. reported a transformational year in 2024, becoming a pure play dental company and reducing net debt by over $290 million [2] - The company achieved an increase in Adjusted EBITDA margins by over 4 percentage points in Q4 2024 compared to Q4 2023, despite a softer end market [2] - ZimVie is optimistic about the long-term growth drivers in the dental implant market, supported by successful training and education programs [2] Financial Performance - Q4 2024 - Third-party net sales for Q4 2024 were $111.5 million, a decrease of 1.4% on a reported basis and 0.9% in constant currency compared to Q4 2023 [3] - The net loss for Q4 2024 was $(9.7) million, an improvement of $12.5 million from a net loss of $(22.2) million in Q4 2023 [4] - Adjusted net income for Q4 2024 was $7.6 million, an increase of $5.0 million from Q4 2023 [4] Financial Performance - Full Year 2024 - Total third-party net sales for the full year 2024 were $449.7 million, a decrease of 1.6% on a reported basis and 1.2% in constant currency compared to 2023 [6] - The net loss for the full year 2024 was $(33.8) million, an improvement of $22.2 million from a net loss of $(56.0) million in 2023 [7] - Adjusted EBITDA for the full year 2024 was $60.0 million, or 13.3% of third-party net sales, an increase of $9.2 million from 2023 [8] Financial Guidance for 2025 - Projected net sales for FY2025 are expected to be between $445 million and $460 million, reflecting a growth of (1%) to 2% [11] - Adjusted EBITDA for FY2025 is projected to be between $65 million and $70 million, indicating an increase of 8% to 17% [11] - Adjusted EPS for FY2025 is expected to be between $0.80 and $0.95, representing a growth of 29% to 53% [11] Company Overview - ZimVie Inc. is a global leader in the dental market, focusing on developing and delivering products for dental tooth replacement and restoration procedures [13] - The company aims to improve smiles and confidence through its comprehensive portfolio, including dental implants and digital workflow solutions [13]