GMED - Earnings call transcript Q3 2017

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Operator

Welcome to Globus Medical's Third Quarter 2017 Earnings Call. At this time, all lines will be on mute and a Q&A session will be held after the prepared remarks. I will now turn the call over to Brian Kearns, Vice President of Business Development and Investor Relations. Please go ahead.

Brian Kearns

Thank you, Josh, and thank you, everyone, for being with us today.

Globus Vice be Williams, President David Executive from Dan Demski, President; call Paul, Senior Scavilla, and Chairman. today's Medical Dave will CEO; and Joining CFO; Anthony the available website Medical www.globusmedical.com. webcast, made the at being is section of review accessible This through Investor Relations Globus via

made considered begin, we forward-looking statements statements. remind review are some of you Before this that or me the let during may be

factors subsequent that XX-K any Our cause those Commission XXXX filings our with the and Exchange from the for results Form identify forward-looking actual year certain could our materially today. to and Securities fiscal statements differ made in projected

future including filings, or any SEC We statements developments. do available undertake the Our or on forward-looking our of website. events XX-K, are result as update to a not information new

GAAP section the Medical With the measures. press over call directly that, certain our and the Demski, provide that now schedules CEO. comparable We Investor also available directly financial measures to information not and Accounting Globus Our are in Generally with together considered replacements measures will GAAP. our should most Principles performance. accompanying Reconciliations should to accordance in the on turn non-GAAP or the for release of comparable GAAP the most be Relations discussion financial the additional today are financial read non-GAAP I'll measures financial with website. measures Accepted These not pertinent be business to these include believe calculated David

David M. Demski

quarter evening, increase XX.X% of were an XXXX Thank XXXX. everyone. of sales quarter third third the $XXX you, Worldwide Brian, and for good the over million, of

ExcelsiusGPS in acceleration per quarter, and the the navigation and flow. U.S. earnings continued in profitability we market, growth of non-GAAP XX.X% industry-leading system, saw generated also share In of our cash further clearance diluted third FDA $X.XX Japan and business, robotic in our a EBITDA. We adjusted and

time, a investments led unwanted we on our The growth correct out encouraging QX QX this ramp to have time, U.S. long-term our that up discussed issues and year-over-year and XXXX. implant taken The a adjusted calls, recruiting several to been the improvement that in attrition, we've basis. sales reaching bottomed Since steps trajectory As increased last efforts, into each growth program. since has made in well acquisition of to XXXX and profitability. Japan in sales our by that us QX, X.X% international days the in pace XXXX quarter development on and has Japan. certain XX.X% in momentum strong the and positions sales and in including competitive business. The highly remain on half Since of back efforts to from contribute XXXX. grow to sets the have made seeing expect meaningful significant in investments we grew a finish XXXX. International sales the into in heading focused positive reps and fruit of begin for acquisition, We Alphatec in recruiting development continues very business

from first launched have We Globus feedback our positive. in Japan, has the surgeons been and systems extremely two

of produce of growth and new the expect introduction our technology the into to impact We strong investments XXXX. the

our calls, prior struggled international markets. business on discussed core we has several As key in

third improvement XXXX. of quarter experienced a compared some quarter, the the third decline was there While X.X% in we to still

to organizational address issues. We these changes several have made

into finalizing markets. we have in management hires markets, plans have inventory operational are We realigned education increase to our important invest larger and and to executive focus, we in made resources key additional

drive business, in will are steps growth our the the be to immediate. these right impact not While international

addition an allows for an on to helps post-expansion angle I'd XXX,XXX first-of-its-kind integrated transpsoas implemented In a anterior two of expandable are potentially expect the ELSA-ATP, neuromonitoring. addition improvement need and decrease portfolio fixation, as for psoas these like to reliance see growing steady recent launched is QX, bringing device XXXX. oblique we The resection products. graft highlight includes year-to-date in for new We reduce total spine, to inserted approach. at bone and in in line This product our Today introduction of enhanced to place products screws changes all our at top to device to to seven. less can over across fixation. the leader subsides and needed it endplate (X:XX). impaction surgeon implanted market interbody expandable the insertion. force integrated interbody to They reducing result is supplemental technologies, of having lumbar with Like pioneered a is fixation. in device which our lateral integrity, may development minimized for devices and unquestioned completed implant the the systems. XX fusion be to-date height, of enables has this a to surgeries This expandable an retraction through different ELSA-ATP expandable Globus in category, preserve safely

While ELSA-ATP the initial very are its rollout business. impact we our in excited period, on by potential lateral

navigation As and robotic received previously announced, clearance we in the XXX(k) system ExcelsiusGPS for mid-August.

to workflow with in three While product meaningful technologies. implant In our report more imaging fully has modalities to in trauma, we product that QX. product this revenue revenue lines we is with designed several different filed clearance and with navigation it work surgeons five not QX, did book received integrates we combines is see It platform. for ExcelsiusGPS have and the with FDA. an FDA optimized in only from single interest a to that continue tremendous and expect in robotics any

using previously Distal of as Globus outside we cases our done our first technology our our XX-year event first ago. announced had also We for spine in a is foray This several that history. milestone Radius weeks

needed hundreds of sets to acknowledge of sets effort. our sales hiring in XXXX. are distinct And SKUs. full history, in like sets work I'd and and manufacturing great our to massive involving inventory We and undertake building unprecedented in of anticipation a launch reps literally in of of aggressively thousands are teams this the commercial engineering for this The launch QX

by produced our diluted non-GAAP apex adjusted to of was stage QX, the drag which spinal in in Technologies. XXXX, and at EPS X.X% to the Emerging the in of and EBITDA EPS a believe includes Turning Tech we we related adjusted XX.X% margins. significant to in $X.XX of delivered investment investment EBITDA EBITDA Emerging other adjusted XX.X% are margins. $X.XX profitability, In margins In reduced our QX words, We portion Technologies. implant Emerging business expenditures

As should by ramp negative expenses the robotics, commercial lessen, offset we to robotics, the in in large begin investments with impact trauma well the somewhat a generate in incremental launch. revenue as as associated

ability This them five of our new As contribute growth scale, went adjusted commitment. a while part this improvement and solid mid-XXs these a U.S. to bottom of focus In years on areas business buying expect we QX to invest had materially of on summary, EBITDA, to businesses maintaining I'm we our well. commitment execute was exhibiting the very continued performance, as our our when line profitability. while public grow we maintaining proud in to our ago strategy both

QX As our will are prospects we about in beyond. of to turn we now I full excited Technologies, Emerging very the XXXX entered our into Dan. and and commercialization over call

Daniel T. Scavilla

good long-range commercializing growth evening, the progress and the in driven and pleased improvements trauma, with results Technologies Dave, our financial strategic We're significant continued recruiting, robotics in QX. with in and the strong opportunities our in U.S. the Emerging international The everyone. Thanks, performance by plan. in-line record business

$X.XX net $XX of adjusted reported growing EBITDA share with For fully million flow. income non-GAAP as XX.X%, GAAP and and cash million QX, $XX.X and were per sales XX.X% diluted income of $XXX.X million, net of non-GAAP of million, earnings delivering $XX.X

Focusing sales, $XXX.X the on X.X% QX QX XXXX less for adjusted X.X% U.S. than or one were quarter for XXXX. higher million, when sales in higher day

This positive with U.S. and growth see adjusted improvements have to acceleration and to and business X.X% by structural business improvements in quarterly will X.X% other on negative from improving the XXXX XXXX we to into believe stronger sequential continue to basis. and a is year-over-year recruiting drive QX in QX growth competitive continued rates driven have We that improvements organic revenue day in we made XXXX. the rep momentum

gains of or markets. Disruptive in international Alphatec acquisition, Innovative were million CREO the expandable marked market hurricanes or X.X% line by penetration technologies, key driven the CREO. improved markets in bottom anniversary contribution for top $XX.X we quarter for to growth, line XX.X% in saw with and increased the Japan, and by business. QX, the driven XX.X% growing International million for the weeks that in sales currency, quarter. sales with for QX our constant as momentum acquisition, XX.X% $XX.X successful reported the integrated impacted offers distributor continued by quarter international million, were or remain in growth procedures this QUARTEX pleased September international and sales core of the continued in subsequent overall and and and technology were strength we exposure netted million in fusion were than $X While biologics, the spacers, sales it the business MIS. potential less the growth long-term in $XX.X

litigation inclusion diluted XXXX. QX foreign $X.X million XX.X% QX Research approximately change P&L. QX was earnings compensation $X.XX. credits in to XX% compared adoption the increase was tax development mix is that investments in-house increased $X.XX. by markets rate QX in expenses by or QX for EPS for profit for were gains the stock $XX.X from driven XXXX. the in the the continued to impacting Technologies XXXX. and and in for income builds SG&A XX.X% million quarter. The driven Turning of XX.X% for benefit which year with resulting versus net was was robotics to investments X.X% earnings the by of $XX.X force. or organization by commercial driven XXXX new versus and $X.XX. decline quarter EPS prior gross in diluted is an in by Investments expenses million million in in income gains began million and U.S. biologics for non-GAAP negative QX $X.X is $XX.X GAAP the impacted GAAP in compared was rest share a of income expense $XX.X per international or change The effective XX.X%, QX in growth QX share QX were in The pre-revenue QX margin planned million quarter the U.S. the partially by The ongoing reflecting rate Provision third and robotics sales sales in X.X% XXXX in increase from offset negatively trauma Non-GAAP trauma. were of compared third million in XXXX. third to regulations tax $XX.X the were Emerging and quarter tax approximately manufacturing net XX.X%, contributed and per accounting GAAP $X.XX. in

both flow cash for the $XXX.X free cash Net of $XX company million sales Excluding the provided cash, and QX. of company net and Emerging million was by of operating growth in $XX.X in We of securities. marketable XX.X% reaffirms Technologies international quarter equivalents, QX was be the cash The businesses non-GAAP Impact with full-year U.S. per guidance in years, share would in diluted the investment income debt-free. million. ended and activities non-GAAP XXXX $X.XX. $XXX The million remains earnings approximately and

open now the will We for questions. call

Operator

Kaila Your the first from question from line Blair. Krum comes William of

open. is line Your

Kaila P. Krum

taking Thanks for Hey, our guys. questions.

I know lot So, and to Alphatec. a first, your have international been in stabilize of investments growth there you business guys reinvigorate making

growth So think into what you steps think that considering of term? And factors next we be about durable that as rate for business confounding integration I guess, sort what should do year. we longer next is to a

David M. Demski

hear is it? question. you I didn't the Kaila. repeat of This Could Dave. second part your Hey,

Kaila P. Krum

about be considering confounding we far into integration? what steps as kind to next as factors the of as just next So think Alphatec should we year,

David M. Demski

Sure.

should our markets is So, the We're higher overall upside rate still potential growth much growth underpenetrated overall I business I our be in several rate. international so there. think think in stronger the than

remarks, prepared doing Japan. in well we're my in mentioned I really As

year the distribution to of be through drag that. are of we're that most towards markets Some some in to good for path least not at certain but and offsets a towards are the integration see we major good of we're on a on next still that, overlapping path but working markets, – we would the expect finalized,

Kaila P. Krum

there. a there's And robotics, a of two-part then of to helpful. excitement as that's obviously, relates I Okay question lot mean, kind it

additional the be capabilities evolving a I other to over then As mean, quarter the would past. year, some robotics in about And incorporate into first, be of mean, Because the I pipeline. how to through Medical, part bending on next time? to you've go are know few the look at we the just we've there, then would we what about talked robotics' KB fourth guidance? you. are to about into process we I the second the systems included bit the over rod in this quarter, how related areas perhaps thinking sort talked little time? just thinking in and you question contribution fourth patents, opt your a But Thank

David M. Demski

Sure, and consider to address to first, I'll a answer and expectations. Dan revenue ask But we technology. the the then second part I'll platform Excelsius guidance be the

today navigating applications. in screws. So projects assisting are pedicle to we expand that and actively to on in But it's cranial placing working work

anticipate a bending also that the We be would with rod associated process machine.

standalone And there's we line see down entire and beyond We then navigation discectomies, on opportunities we procedure. on pedicle go have the placement, the think really to expand into a that the really the of utility the platform Dan? encompassing books. project decompression, rod screws, further

Daniel T. Scavilla

in we seasonality mentioned to as that as about Kaila, general, We with pretty that can question the we robotic first had meaningful the we revenues many the lift lot million, that Certainly anticipated will for good $XXX some achieve we see QX in guidance, have already that respects. the had get we we're feel $XXX feel part we strongly experiencing we of of your activity there. In Dave think with million. a for planned that spine. quoting. we see

going forward. I refrain from I'll think anything

that outer in January about that some how years as we normally and looks. more was question as we'll the XXXX, provide Your do guidance of of to

Kaila P. Krum

Okay. Thank you, guys.

Operator

Your O'Brien comes from Piper from next question Jaffray. Matthew

open. line is Your

Matt O'Brien

hear so as much great David the and to for on call Thanks the Great. well. questions, taking Paul

$XX contribution the I Just just of to revenues it $XX.X Dan, time my revenues math, revenue year? one but, before incremental quick real and quarter? this of clarification last I us was By Alphatec you versus about million get million questions, the Alphatec question my about two, in give can guess,

Daniel T. Scavilla

second looking reasons. I'd One that enough would core was be anniversarying we I acquisition, out that was a last had from misleading. to at the a Matt, Yeah, ballpark. think I said the the mind, international Keep Alphatec of started you're as cross-channel we separately what in gotten split couple in the that of in that activity become QX, quarter for did those

number So going think this one it assumptions Dave do refrain but the I you're one from at had as look and point. you as business getting this international and at I'm just general close, those to called out in

Matt O'Brien

enough. Fair

Okay.

of don't I questions much couple the but do then I know I two-year throw performance, and So get to that too that U.S. and want on water this, you on the have, stack seen grew we've the years, I it basis, of that the less adjusted quarters But last was metric over quarters. day a or still seven so couple level nicely. believe lowest in that so

getting back talking was So see then next of I so of QX comp or And a easier this a kind low should as as for you previously? business about with the should what mid-single-digit know growth existing adjusted far that just how as it's maybe business kind the in you'd going worked had, or forward? did be you you new quarter, surgeons surgeons getting that get and good. progress, that It we into guys year,

Daniel T. Scavilla

Thanks.

at I'll ways. a that So different go couple of

adjusted called at is It's we pleased because comp a going results I'm would a with QX. positive this it inflection QX a where thing to negative really of day exactly first on in a XXXX not the have stack QX. basis. point from looking we're for The in we're

So, spread just two between XX.X-point a general those factors. almost

shows that which important. think I more momentum, is

U.S. doing deeper that main that going by the us existing in into recruiting, driver businesses surging competitive is way. that conversions, think I driven the are

plan points what know. would we XXXX and always that being the be in of of hit based we the the carry thought we recovery was bring think that same year exiting year. on As forward. around and And would QX That this would signaled, high QX rest into QX, that XXXX and we what rate we get we that through the

Matt O'Brien

Street's seen like Fair And EBITDA eight lastly then the investment, look is modeling I we've the year, in I lowest adjusted on enough. the the numbers the it again, all the last And more as quarters. number Street next get at XX.X%. for level

on seeing as investments should what the side essentially these other when about QX, So business the to we that you forward we the be we're thinking get for get and you here number more revenue? make more until that is going start in

Daniel T. Scavilla

we had carry QX I we shy QX away investments would always two signaled heavier both XX% would a So never that as and pre-revenue. robotics and things, the EBITDA. trauma be from

being I between at XX% anyone's XX% think by we I'm time for be pretty as standards, future. to the proud of EBITDA leading look and nothing given market any always, grow that we mid-XXs to comes at else close, that would And as to invest encourage continue and honest. Street

Matt O'Brien

Thank it. Got you.

Operator

line from next of Demchick Stanley. Jonathan at the comes Your question Morgan

open. is line Your

Jonathan Demchick

start taking for you've of guess wanted I that getting there questions. given obviously they've the really to Thanks lot been on interest it was and at I massed, to mass. off the attention Hello. robotics robotics a

of sale kind that on the change think help differentiators, talking then navigation Can is key platform added really of aspect that the guess if robotics I to I compared one lot the that really platform it gets also number how a attribute about a to systems, to you robotics? on they more out know competitive sounded from And talk but there is the physicians, other in just viewpoint of how liked can that you does robot? there. of your like of

David M. Demski

Thanks, Jonathan.

impact, In I safety the think a terms of and it's comfort a factor.

feedback the And at the driving them pure robotic to that surgeons so technology really add are of their think the so feature they're aware robotic where we've about to great there. will to the offering, instruments procedure. that competition what are planning clearly path. of Kaila's stand that's integration think essential on I the we throughout mentioned adopting enhance still. that as do, we're lot that the your implants systems a and we out gotten question, visualize you driving there, it's we're other ways from are question informative a going so not working navigation integrated the So we're the the the right least platform essentially k-wire screw And on the enables the to in where digitally I you're the forward, blindly. functionality highly And and navigation, moving And are to to to

Jonathan Demchick

system, think already typically that have that more using When more like, to that used or those navigation physicians are the doing are procedures? looking traditional, been you are physicians at the of fluoro they

David M. Demski

computer-assisted But technology ones has that ability that are their treat both. into group an use functionality using technology improve think the I well. patients It's potential as considering that patients. we've believers already built who It's certainly today users are that to their new the entirely them attracted can treat help Excelsius to of

Jonathan Demchick

a of is quick it's that we business you Dave answering rate is the just expectations this this follow-up previous U.S. right the mid I of at And of this kind about at either Is rate Understood. of that I expectation range forward the to growth for for point? Dan, the growth core think move mean, for moving kind the the upper-single-digit kind business? I the X%, in question business when that or around forward, as were guess

Daniel T. Scavilla

Jon, yeah, what we'll this fine-tune obviously on But is we or I look before. the read. guidance for at XXXX you in see January would said as way depending

X%. that's X% be is we're as strive And a currently You're at rate that always considered that. of spine you taker. think know, X And a are we growth times times and I to what share to signaling X looking we market between

that in upper-single to look So digits a us share main at to that still capture as market. going to we're mid driver the think for we

Jonathan Demchick

much. clear. you very Thank Very

Operator

Newitter from of Your the question comes Rich next Leerink. from line

open. is line Your

Rich S. Newitter

about trends to your up for to to one made the I the some of follow the a then that and respect Thanks you comment with quarter. want taking questions. fourth last Hi. earlier Dan, on answer

X committed to mid-single-digit need to to given say you get that are times robots X% and about to to trauma a and Or you to acceleration to think there? potential totally high-single-digit, X incremental. that right market. when you Is digits there's X% that So Those robotics? is mid-single-digit trauma times of and are high-single off the it

Daniel T. Scavilla

Jon's question, that when So, referring core to using I Rich, to number was answer was spine. I

of be, growth In addition that business. robotic course, to would that trauma and additional business They come the as number. the beyond would

Rich S. Newitter

is of Okay. to Can I that you clarification. already prior Thanks you're that kind hurricanes? for from bit? you stronger a some the for end so. than seasonality. you And years kind experience that mentioned starting And little elaborate it coming compared the that seeing what had even to Thanks. September this thought snapback on typical back are year of And of just of seasonality? you

Daniel T. Scavilla

positive. too sitting to early get make I'm call Yeah, would that there is a know, you saying here into lift and as like you always Rich. be tell as November, you so that, a What in tends to I we're QX, just something to tell spine, seeing be what now norm. experiencing the It's not would right would usual outside we're But or I historical bank appears year-end again the you we're normal on. seeing for anything we in and that's of

Rich S. Newitter

robot to certain installed with that arrangements And Okay. give just to of expands? customers certain And us could, the implant to discounts, as that can you to share want types Thanks. types kind revenue I engaging market after implement strategies plan volume what order kind one to in go as are in of sticky there – you're there don't of say sense but potentially share? of robot, a you more are kind if base I secure of more the

David M. Demski

our Thanks, our I the of business of works It's XX fully to with selling you our we're intricacies mean, more implants. systems if obvious right of not robot is going get that about into implant our most all think impact implant I our the to now. Rich. efficiently use but integrated much strategy,

are procedures better faster. to So surgeons to because and natural there's go for a our to implants want going their utilize inclination

Rich S. Newitter

you. Thank

David M. Demski

Sure.

Operator

of Your Canaccord. Rose line at the from comes next Kyle question

is line Your open.

Kyle William Rose

me Can all much you questions. very Thank right? you Great. for the taking hear

Daniel T. Scavilla

Yes.

Kyle William Rose

like from two revenue Analyst way. the as Yeah, a ago at different talked that robotics XX% about perspective. years billion looking was so Emerging a I think ask Technologies this to years time long-term number the question about whole ago, $X a of I wanted Two Day, it you

years. $XXX potential the So about that lot's past long-term think just a that when view And a think of two years you being kind I trauma versus next wanted you can we think through line one, for the how playing you guys, about hold? out Emerging several that mix Does there, see, us of about guidance? just from the still over overall robotics when relative revenue Technologies that kind just you then to to and of within million happened an standpoint walk

Daniel T. Scavilla

Kyle, Sure, thanks.

feasible. we the at we as look we XXXX. is, company about then. was So spine and $X declared you're would had signal we thing right, spine Analyst that, even key would as company a and got the had that tell first it's everything approach about had billion now that and a we that In I we realistic two remain years ago Day to still see are certainly a you

Technologies. spine, So had and to remain $XXX back about in the be to had your sales XX% $X point, million core would we as that Emerging billion XX% that our of would

simply During that just half, meeting, to it in we data, say no is we this real cut think. what having had

science there. difference The $XXX me But guessing, robotics, a be the tell of being is more $XXX trauma data for or would probably guess, the but would would and the robotics million ask that I more it's trauma million really If still now. the number in gut right feel I but than the to that any a heavier be side I'm than you I truly on today, you way.

Kyle William Rose

in fair those different different I it think there. And and just on at first to for know anything the robots cases a call two then color there along the just Thank guess about But that specifically two give additional placed? see, selling cases you as you want are facilities, did the any placements? should you're the is lines? about guidance QX. being were we Terrific. two press value, those or for initial I agreements, that of think the hesitant release Or follow-up the to to out first robotics. types

David M. Demski

discuss or anything prepared our not to this quarter fourth regarding of sales really details call. we're Kyle, the on any

Kyle William Rose

course you'd take the just trauma give in Okay. the to obviously broader hiring to the initial of And to next steps team. over those more expect commercial six trauma, continuing place the how of kind you us one as prepare good Can months, build the talked commercial to then a launch build you the sales about force had out the XXXX? on out of you just understanding of cases, you for

David M. Demski

now. hiring our we're They're coming reps and as here question, we management that speak. Was right We're your field We've got place answering sales day. hiring every team Kyle? in through

Kyle William Rose

I questions. sorry, taking my mute. for on was Thanks Yes,

Operator

at comes Ryan question from next of Your the line Zimmerman BTIG.

Your line is open.

Ryan Zimmerman

you Thank Great. for questions. taking the

introductions So question. just you spend could product is Japan that talked cadence a That and I'm coming the you my just we into first curious, in on think Japan, of if about your what's of product introductions bit what into little market? kind should about for

Anthony L. Williams

Ryan. Anthony Williams. This is Hey,

regulatory at Dave started mentioned, for handful we started there, sale cleared the segments primarily this products as with of Obviously, so that what for in makes got systems are sense – the at target we working with can. Japan. to and but biggest we've and registered screws point, in process quickly are figuring a the and there So of initially the out get pedicle Japan in launch as team submitted products portfolio we as entire we the looking to

Ryan Zimmerman

steps lot And of and I trauma need Okay. then get Appreciate and production. this a produce to build-out, on build for there's just that the done that.

should should expect build-outs to in-line any capital far? additional on think or gone it fairly a where with I is but expense the capital increases track thus we from your what historically, capital in-line you've those tracking expenditure seeing I standpoint, forward expense mean, trade we're going Just side for

Daniel T. Scavilla

And that to track question. great a in-line far. a of it's couple Dan, reasons It's Ryan. it Hey, probably going would you for that. is so There's I tell

trauma well investing produce been manufacturing in as as have in-house to in We grow spine. order our capabilities

profit-generating carrying diminish of sets. so $XXX year is sets mind, next of of that sitting a Keep do. lot into would with somewhat converting in year trauma probably you're we're And replaced machine cash, build so to be that expenditures quick we're that with this million something into and

Ryan Zimmerman

much so the it. appreciate Thanks I right. questions and All for

Operator

Your line Matson from at Company. next the Mike question Needham of comes &

open. is line Your

David Saxon

This for Hi. is David today. for Thanks on taking Mike our Saxon questions.

wanted to first XD with printing. start just I So

I like you've it if spacers. think noticed then from expandable And XD was So previously, convinced. you wondering quite printed any competitors' impact sounded I weren't and

if changed So I if curious that's that's case. or the still was

David M. Demski

David. Thanks,

a point that have in more impact. of It's few in modest printing. this a And have space actively are utilized our We at seen developing at XD surgeons we competitors' products some anecdotal point. products this where

David Saxon

follow-up, the then you as you're targeting any if sales and hiring Thank experienced is on update more force a give going guess can hires? And Okay. you. I how

David M. Demski

well. quite going It's

and think as exceeded previous quarter and reps interested impact in we mentioned, There very we on point. number at terms the to opportunity is about record competitive we hired carrying lot buzz we've our may the full is business, implant in of pipeline active that this the our and and continue see are I of had a people portfolio. of robotics the last that that very have our already

sales a got way. forward looking force that in So to the and to extensive continue we've pipeline build

David Saxon

Great. Well, thank you very much.

David M. Demski

Sure.

Daniel T. Scavilla

Thank you.

Operator

Matt the comes of from Barclays. Your next Taylor question at line

open. Your line is

Matthew Taylor

how a that business. seen comment. really the piggybacking implant know the leader could with and Medtronic, us implant question, we've market last from it that partnership the driven help I lot Thanks robot for start you to guess hasn't business taking their there of thought off let drive just your the with what I yet. from wanted

differently the can how how do approach going that think get are really you a robot? halo and you from you effect So to

David M. Demski

implant you're Thanks, our Matt. you're use. difference use need Well, to which to a means competitors, the agnostic going k-wire you the that to is

anybody's it's implant. As use you screw, cannulated long a can as

option. that Ours also offers

use can a technology. our system integrate implants, you it better and the You itself if folks' functions k-wire with much but other

a we as So natural think there'll want as and cases the surgeons to as our be pull-through implants. do efficiently safely they if use possible as

Matthew Taylor

give hard Just engine could you're record-high. like any was to if follow about of better on wondering I much front. up, And us seems metrics other it hiring talking the you doing than kind

already are the just is you from late some positive impact, to you or comments, a that year. hires As earlier onboard expected harbinger in come? mentioned I Is that additional more next the of that pull-through guess, guys

David M. Demski

to and But I in who referring year. them We confident, don't the half early clarify back developmental becoming don't confident ready instituted that the up of last comments, comfortable, of next my the had experience industry We're program over take They we bringing of actual late disclose in to spine speed, the territories towards this hires traditionally folks Yeah. and that to thing. just world. getting year. sort year, numbers have will start to was

Matthew Taylor

Thanks right. lot. a All Okay.

David M. Demski

Sure.

Operator

to over I no There questions the further call back the are the presenters. at time. turn

David M. Demski

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Globus Medical (GMED) 8 Nov 172017 Q3 Earnings call transcript