SPNE · Seaspine Holdings Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 | Q3 '20 | Q2 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $67.15M | $56.32M | $50.69M | - | $46.45M | $47.46M | $41.95M | - | $43.21M | $28.59M |
| Cost of Revenue | $26.64M | $19.13M | $20.38M | - | $18.29M | $17.48M | $15.37M | - | $14.07M | $11.66M |
| Gross Profit | $40.51M | $37.19M | $30.32M | - | $28.16M | $29.98M | $26.59M | - | $29.14M | $16.93M |
| R&D | $6.60M | $5.65M | $5.85M | - | $6.26M | $4.85M | $4.51M | - | $3.92M | $3.97M |
| SG&A | $14.77M | $12.19M | $10.94M | - | $11.64M | $9.99M | $10.43M | - | $8.91M | $7.71M |
| Total Operating Expenses | $55.20M | $51.73M | $47.15M | - | $46.42M | $41.12M | $39.12M | - | $35.78M | $30.62M |
| D&A | $2.50M | $2.50M | $4.20M | - | $2.20M | $1.70M | $2.75M | - | $1.70M | $1.60M |
| Operating Income | ($14.69M) | ($14.54M) | ($16.83M) | - | ($18.27M) | ($11.13M) | ($12.54M) | - | ($6.65M) | ($13.69M) |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | $389.0K | ($1.15M) | ($228.0K) | - | ($872.0K) | $158.0K | $25.0K | - | $64.0K | $33.0K |
| Net Income | ($15.50M) | ($13.95M) | ($16.60M) | - | ($17.63M) | ($5.21M) | ($12.72M) | - | ($6.57M) | ($13.71M) |
| EPS - Basic | ($0.48) | - | - | - | - | - | - | - | - | - |
| EPS - Diluted | ($0.48) | - | - | - | - | - | - | - | - | - |
Balance Sheet
| Line item | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 | Q3 '20 | Q2 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $46.76M | $66.08M | $83.11M | $83.11M | $102.43M | $120.70M | $87.75M | $76.81M | $78.19M | $75.35M |
| Accounts Receivable | $38.97M | $34.44M | $36.07M | $36.23M | $29.07M | $29.68M | $25.03M | $26.15M | $23.35M | $20.84M |
| Inventory | $83.99M | $85.91M | $76.53M | $72.30M | $70.93M | $65.52M | $58.18M | $54.04M | $51.65M | $50.63M |
| Accounts Payable | $17.78M | $19.22M | $16.48M | $20.30M | $18.00M | $16.72M | $12.09M | $5.01M | $8.09M | $11.29M |
| Current Assets | $174.87M | $190.00M | $198.04M | $195.96M | $207.18M | $220.16M | $173.69M | $160.89M | $170.38M | $173.41M |
| Total Assets | $374.12M | $385.57M | $380.41M | $377.27M | $390.00M | $397.21M | $230.42M | $214.40M | $221.74M | $225.67M |
| Current Liabilities | $55.05M | $54.44M | $72.95M | $52.98M | $47.70M | $43.58M | $39.93M | $30.73M | $35.88M | $38.32M |
| Long-term Debt | - | - | - | $0 | $0 | $0 | $24.78M | $5.06M | - | - |
| Total Liabilities | $99.67M | $98.74M | $83.59M | $64.90M | $63.16M | $59.05M | $71.15M | $42.68M | $43.20M | $45.97M |
| Stockholders' Equity | $274.46M | $286.83M | $296.82M | $312.36M | $326.84M | $338.16M | $159.27M | $171.72M | $178.54M | $179.70M |
| Retained Earnings | ($319.65M) | ($304.15M) | ($290.21M) | ($273.60M) | ($254.82M) | ($237.19M) | ($231.98M) | ($219.26M) | ($208.91M) | ($202.34M) |
Cash Flow
| Line item | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 | Q3 '20 | Q2 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | - | ($14.99M) | - | - | - | ($2.96M) | - | - | - |
| Investing Cash Flow | - | - | ($10.06M) | - | - | - | ($4.10M) | - | - | - |
| Financing Cash Flow | - | - | $23.40M | - | - | - | $18.06M | - | - | - |
| CapEx | - | - | $9.36M | - | - | - | $3.75M | - | - | - |
| Free Cash Flow | - | - | ($24.35M) | - | - | - | ($6.71M) | - | - | - |
Ratios
| Metric | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 | Q4 '20 | Q3 '20 | Q2 '20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 60.3% | 66.0% | 59.8% | - | 60.6% | 63.2% | 63.4% | - | 67.4% | 59.2% |
| Operating margin | -21.9% | -25.8% | -33.2% | - | -39.3% | -23.5% | -29.9% | - | -15.4% | -47.9% |
| EBITDA margin | -18.2% | -21.4% | -24.9% | - | -34.6% | -19.9% | -23.3% | - | -11.4% | -42.3% |
| Net margin | -23.1% | -24.8% | -32.8% | - | -38.0% | -11.0% | -30.3% | - | -15.2% | -48.0% |
| Free cash flow margin | - | - | -48.0% | - | - | - | -16.0% | - | - | - |
| FCF / Net income | - | - | 1.47 | - | - | - | 0.53 | - | - | - |
| R&D / Revenue | 9.8% | 10.0% | 11.5% | - | 13.5% | 10.2% | 10.7% | - | 9.1% | 13.9% |
| SG&A / Revenue | 22.0% | 21.6% | 21.6% | - | 25.1% | 21.0% | 24.9% | - | 20.6% | 27.0% |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -4.1% | -3.6% | -4.4% | - | -4.5% | -1.3% | -5.5% | - | -3.0% | -6.1% |
| Return on equity | -5.6% | -4.9% | -5.6% | - | -5.4% | -1.5% | -8.0% | - | -3.7% | -7.6% |
| Return on invested capital | - | - | - | - | -4.4% | -2.6% | -5.4% | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 3.18 | 3.49 | 2.71 | 3.70 | 4.34 | 5.05 | 4.35 | 5.24 | 4.75 | 4.52 |
| Quick ratio | 1.65 | 1.91 | 1.67 | 2.33 | 2.86 | 3.55 | 2.89 | 3.48 | 3.31 | 3.20 |
| Cash ratio | 0.85 | 1.21 | 1.14 | 1.57 | 2.15 | 2.77 | 2.20 | 2.50 | 2.18 | 1.97 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | 0.00 | 0.00 | 0.00 | 0.16 | 0.03 | - | - |
| Debt / Assets | - | - | - | 0.00 | 0.00 | 0.00 | 0.11 | 0.02 | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.36 | 1.34 | 1.28 | 1.21 | 1.19 | 1.17 | 1.45 | 1.25 | 1.24 | 1.26 |
| Liabilities / Assets | 0.27 | 0.26 | 0.22 | 0.17 | 0.16 | 0.15 | 0.31 | 0.20 | 0.19 | 0.20 |
| Efficiency | ||||||||||
| Asset turnover | 0.18 | 0.15 | 0.13 | - | 0.12 | 0.12 | 0.18 | - | 0.19 | 0.13 |
| Inventory turnover | 0.32 | 0.22 | 0.27 | - | 0.26 | 0.27 | 0.26 | - | 0.27 | 0.23 |
| Days sales outstanding | 212d | 223d | 260d | - | 228d | 228d | 218d | - | 197d | 266d |
| Days inventory outstanding | 1151d | 1639d | 1371d | - | 1416d | 1368d | 1382d | - | 1339d | 1585d |
| Days payable outstanding | 244d | 367d | 295d | - | 359d | 349d | 287d | - | 210d | 354d |
| Cash conversion cycle | 1119d | 1496d | 1335d | - | 1285d | 1247d | 1313d | - | 1327d | 1497d |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 44.6% | 18.7% | 20.8% | - | 7.5% | 66.0% | 16.2% | - | 8.3% | -27.3% |
| Revenue CAGR (3y) | 19.0% | 12.7% | 11.9% | - | 9.0% | 9.2% | 8.1% | - | 10.8% | -5.8% |
| Revenue CAGR (5y) | 16.2% | 10.5% | 9.7% | - | 7.9% | 7.4% | 6.0% | - | 5.7% | -4.4% |
| Gross profit growth (YoY) | 43.9% | 24.0% | 14.0% | - | -3.4% | 77.1% | 19.2% | - | 14.3% | -32.3% |
| Operating income growth (YoY) | 19.6% | -30.5% | -34.3% | - | -174.9% | 18.7% | 1.6% | - | 28.9% | -14.2% |
| Net income growth (YoY) | 12.1% | -167.5% | -30.5% | - | -168.1% | 62.0% | -1.3% | - | 32.0% | -13.9% |
| EPS growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | -263.0% | - | - | - | -36.7% | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -16.0% | -15.2% | 86.4% | 81.9% | 83.1% | 88.2% | -16.1% | 56.4% | 54.2% | 45.0% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Business segments
$191.45M totalSpinal Fusion Hardware$99.63M · 52.0%
Orthobiologics$91.82M · 48.0%
Geographic
$91.82M totalUS$83.25M · 90.7%
International$8.57M · 9.3%
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing SeaSpine Holdings Corp against the 5 most active filers in the same SIC group.