Benzinga | Jul 22, 2021 04:09PM EDT

Intersect ENT Sees Q2 2021 Revs $27.3M Vs $28.02M Est

Intersect ENT, Inc. (NASDAQ:XENT), a global ear, nose and throat ("ENT") medical technology leader dedicated to transforming patient care, today announced preliminary second quarter 2021 revenue and provided a business update.

Second Quarter 2021 Overview

* Preliminary and unaudited revenue of approximately $27.3 million.

* Record quarterly SINUVA revenue of approximately $2.7 million.

* Cash, cash equivalents, restricted cash, and short-term investments of approximately $76.2 million as of June 30, 2021.

* Company reiterates full year 2021 revenue guidance of $117 million - $121 million

"As the broader economy opens up, our preliminary second quarter results reflect strong sequential performance across our business, growth relative to the second quarter of 2019, and record SINUVA revenues," said Thomas A. West, President and CEO of Intersect ENT. "While elective sinus procedures continue to trend positively, the recovery in procedures has only returned to approximately 90%-95% of pre-COVID levels. Looking ahead, we expect a return to normalized procedure rates in the second half of 2021. These improving market conditions, combined with our commercial execution and upcoming product launches, reinforce our confidence that we will achieve our 2021 full-year revenue guidance."