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Conformis Reports Second Quarter 2021 Financial Results BILLERICA , Mass . , August 4 , 2021 ( GLOBE NEWSWIRE ) - Conformis , Inc. ( NASDAQ : CFMS ) , an orthopedic medical device company that features personalized knee and hip replacement products , announced today financial results for the second quarter ended June 30 , 2021 . Second Quarter 2021 Summary Total revenue of $ 56.3 million , an increase of 189 % year - over - year on a reported and constant currency basis . Product revenue of $ 15.2 million , an increase of 56 % year - over - year on a reported basis and 54 % on a constant currency basis . ● ● ● ● Royalty and licensing revenue of $ 41.1 million , including $ 25.0 million in connection with the third and final milestone under the Stryker development and license agreements and the settlement and license agreement with Stryker , Wright Medical , and Tornier . Conformis Hip System revenue up 62 % year - over - year to $ 0.9 million . Received 510 ( k ) clearance for Identity ImprintTM Knee Replacement System . Received 510 ( k ) clearance for patient - specific instrumentation developed in connection with the Stryker license and development agreements . First procedure successfully completed on July 14 , 2021 . Full forgiveness of Paycheck Protection Program ( “ PPP ” ) loan of $ 4.7 million principal loan amount , plus accrued interest . Executive Commentary - Mark Augusti , President and CEO " We had another steady quarter of progress as we executed our growth strategy . The environment for orthopedic surgical procedures has improved and we believe procedure levels will continue to normalize . We remain cautiously optimistic about the second half of the year as we aim to get back to our 2019 revenue run rate . We continue to make progress with our new product development plans . As part of a limited market release , the first surgery using our patient - specific instrumentation with a Stryker knee implant recently occurred and was successful . We also obtained 510 ( k ) clearance from the FDA for our new Imprint knee offering , and we expect our first surgeries to occur soon . We believe that these two new products position us well as medical facilities , particularly ambulatory surgical centers , continue returning to normal operations and look for efficient , cost - effective knee implant solutions . We are also pleased that we have been able to continue protecting and monetizing our intellectual property . This quarter , we generated $ 41 million in royalties and license revenue . This adds to an increasingly strong balance sheet that gives us the runway to execute our plan . "