The following is a summary of the ZimVie Inc. (ZIMV) Q4 2023 Earnings Call Transcript:

Financial Performance:

• ZimVie Inc.'s Q4 2023 total third-party net sales were $113.1 million, a decrease of 2.4% in reported rates and 3.6% in constant currency.

• Full year 2023 sales were $457.2 million, essentially flat year-over-year.

• Adjusted EBITDA for Q4 2023 was $13.9 million, and it was $0.22 per share for the full year 2023.

• ZimVie sold its Spine business for $375 million to H.I.G. Capital, enhancing its cash reserves, and plans to reduce net debt to under $200 million post-sale.

• Despite a decrease in sales from discontinued operations, the company aims to achieve a 15% or over adjusted EBITDA margin post the sale.

Business Progress:

• ZimVie is selling its Spine business to H.I.G. Capital, thus becoming a more focused Dental company.

• The company is preparing for several product launches in 2024 and is looking to improve its financial performance through operational changes and cost-reduction initiatives.

• ZimVie is committed to manufacturing automation, supply chain optimization, and improving plant efficiency.

• ZimVie published its inaugural ESG report, showcasing its commitment to responsible business and workplace practices.

• The company expects to deliver annual sales of over $455 million a year post-Spine sale.

More details: ZimVie IR

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