BILLERICA, Mass., Sept. 20, 2021 (GLOBE NEWSWIRE) — Conformis, Inc. (NASDAQ:CFMS) provided today an update of its third quarter revenue performance expectations in advance of the Oppenheimer Fall Healthcare Life Sciences & MedTech Summit. The Company has experienced higher than expected levels of deferred and rescheduled knee and hip procedures as a result of the surge in COVID-19 cases associated with the Delta variant. Accordingly, the Company has updated its revenue outlook for the third quarter. Conformis now expects product revenue for the quarter to be approximately $13.7 million to $14.3 million. This compares to the $15.5 million to $16.5 million projection announced on August 4, 2021.
“Over the last four weeks, we have experienced heightened levels of rescheduled and deferred procedures due to the rise of cases of COVID-19 and the Delta variant. Despite this increased headwind, we remain confident in our growth plan for 2022 and beyond. The recent additions to our product portfolio, the Identity Imprint™ knee and the products associated with our partnership with Stryker, have us well positioned as we execute our growth strategy. Our team continues to work with our provider network to get needed procedures scheduled and performed so our patients can reclaim living without pain when walking or other daily activities.”
As previously announced, Conformis management will present at the OpCo Summit on September 21, 2021 at 1:15 p.m. ET. A live webcast of the presentation will be available at https://wsw.com/webcast/oppenheimer16/cfms/2767483.
