Conformis, Inc. (NASDAQ: CFMS) closed with decline of -1.84% to $3.74. Recent traded volume was 843,145 shares versus to it an average volume of 1.699M shares. The company holds 64.45 million shares outstanding and market cap of 256.71 million. The stock’s day range was recorded between a low of $3.66 and a high $3.89. The one year high of the company is $4.83 and the one year low is $0.36.
After the last closing session, the bid price was seen at 3.7100 x 4000. The bid price represents the higher price that a buyer or buyers are willing to pay for a security. The ask price was registered at 3.9400 x 1100. The ask price indicates the lower price that a seller or sellers are willing to receive for the security.
Conformis, Inc. (NASDAQ: CFMS), reported recently financial results for the first quarter ended March 31, 2019.
Total revenue for the three-month period ended March 31, 2019 increased $1.0M to $20.6M, or 5% year-over-year on a stated basis and 6% on a constant currency basis. Total revenue in the first quarter of 2019 and 2018 includes royalty revenue of $0.2M related to a patent license contract.
Product revenue increased $1.0M to $20.5M, or 5% year-over-year on a stated basis and 6% on a constant currency basis. U.S. product revenue increased $1.5M to $17.6M, or 10% year-over-year, and Rest of World product revenue reduced $0.5M to $2.9M, or 16% year-over-year on a stated basis and 11% on a constant currency basis. Product revenue from sales of iTotal PS increased $1.7M to $7.5M, or 29% year-over-year on a stated and constant currency basis. Product revenue from sales of iTotal CR, iDuo and iUni reduced $1.2M to $12.4M, or 9% year-over-year on a stated basis and 8% on a constant currency basis. Conformis Hip System sales in the first quarter of 2019 was $0.5M, which was all in the U.S.
Total gross profit increased $1.0M to $9.8M, or 48% of revenue, in the first quarter of 2019, contrast to $8.8M, or 45% of revenue, in the first quarter of 2018.
Total operating expenses reduced $4.8M to $16.4M, or 23% year-over-year.
Net loss was $7.6M, or $0.12 per basic and diluted share, in the first quarter of 2019, contrast to a net loss of $12.0M, or $0.22 per basic and diluted share, for the same period last year. Net loss in the first quarter of 2019 included foreign currency exchange expense of $0.7M contrast to foreign currency exchange income of $1.1M in the same period last year. Net loss per basic and diluted share calculations assume weighted average basic and diluted shares outstanding of 62.8M for the first quarter of 2019, contrast to 54.7M for the same period last year.
Cash and cash equivalents and investments totaled $18.6M as of March 31, 2019, contrast to $23.6M as of December 31, 2018.
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