December 2, 2022
Loading...
You are here:  Home  >  Banking & Finance  >  Current Article

Sientra reports rising revenue, declining losses

IN THIS ARTICLE

Goleta-based Sientra reported record revenue for the fourth quarter and full year of 2021, and while the company still saw net losses, they were lower, the company reported March 23.

Sientra, a breast implant manufacturer, had revenue of $22.6 million for the quarter, representing growth of 26.6% year-over-year, excluding discontinued operations.

For the full year, Sientra generated net sales of $80.7 million, 47% more than the previous fiscal year. Sientra credited the extra revenue to gaining expanded market share in breast augmentation, where market share was 11%, and expanded market share in reconstruction, at 14%.

Sientra’s net loss for the quarter ended Dec. 31 was $16 million, or 27 cents per share. That was less than the net loss from a year earlier of $21 million, or 40 cents per share.

For the full year, Sientra reported a net loss of $62.7 million, or $1.10 per share, down from $89.9 million, or $1.34 per share, in 2020, despite incurring $12 million more in operational costs.

For full year in 2022, Sientra expects total net sales between $93 million and $97 million, representing growth of 15% to 20%.

Sientra closed at $2.46 on March 23, up 3.8% but shares dipped about 6.7% after hours to $2.27. Since the start of the year, Sientra shares have slipped 30.7%.

Sientra finished the year with cash and cash equivalents worth $51.8 million.