Surgalign Holdings announces revenue gains

DEERFIELD - Surgalign Holdings Inc. said revenue for the quarter ended June 30 was $24.8 million, compared to $20.5 million for the prior year period. The increase in revenue is primarily due to the partial return of elective surgical procedures, the company said.

Surgalign is a global medical technology company focused on the evolution of digital surgery.

During the second quarter, Surgalign made significant progress toward the ongoing development of its digital surgery platform, said Terry Rich, president and chief executive officer. The company is on track to hit its goal of having the first procedures performed using the Holo platform in the U.S. by the end of 2021, he added.

"We see the incredible potential of the Holo platform to evolve the way surgery is performed, and we have put together a world-class team to drive our transformation into a digital medical technology company," Rich said.

Net loss from continuing operations for the second quarter of 2021 was $10.6 million compared to $24.9 million for the second quarter of 2020. Research and development expense for the second quarter of 2021 was $3.2 million compared to $3.3 million in the second quarter of 2020.