ZimVie Inc · Q4 2023 earnings

Briefing

ZimVie's financial performance in Q4 2023 was marked by a decrease in third party net sales for both continuing and discontinued operations, and the company reported a net loss, but also showed an increase in adjusted net income for both segments.

ZimVie's Q4 2023 results showed a mix of challenges and progress. The company reported a decrease in third-party net sales for both continuing (Dental) and discontinued (Spine) operations. However, adjusted net income increased for both segments. The company is advancing its plan to sell the Spine business and transform into a pure-play dental company.

• Third party net sales for continuing operations decreased by 2.4% to $113.1 million.
• Net loss for continuing operations was ($22.2) million, compared to ($15.4) million in Q4 2022.
• Third party net sales for discontinued operations decreased by 10.6% to $100.5 million.
• Net loss from discontinued operations was ($312.7) million, compared to ($15.0) million in Q4 2022, impacted by a $289.5M write-down of the Spine disposal group.

Headline financials

Revenue & EPS history

ZimVie provided financial guidance for the quarter ending March 31, 2024, and updated financial targets for the continuing operations for the 12-month period post-spine sale.