---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-061153"
form_type: "8-K/A"
ticker: null
cik: "0001760173"
company_name: "SURGALIGN HOLDINGS, INC."
filed_at: "2023-03-06T23:59:59+00:00"
generated_at: "2026-06-18T11:55:16.599169+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Surgalign updates restructuring: targets $30-35M savings, reports ~$82M revenue, sells Coflex/CoFix for $17M

## Summary
- Inventory write-down of $12.5-15.5M in Q4 2022 due to product rationalization.
- Workforce reduced by ~20% in December 2022; target cash savings of $30-35M in 2023 vs 2022.
- Preliminary 2022 revenue ~$82M; year-end cash ~$16.3M.
- Closed sale of Coflex/CoFix brands to Xtant Medical for $17M on March 1, 2023.
- Product rationalization expected by mid-2023; ~70% of 2022 revenue from ~30% of brands.

## SEC filing metadata
- accession: 0001193125-23-061153
- form_type: 8-K/A
- cik: 0001760173
- company_name: SURGALIGN HOLDINGS, INC.
- filed_at: 2023-03-06T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1760173/000119312523061153/0001193125-23-061153-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1760173/000119312523061153/d444936d8ka.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-061153
- JSON: https://secwatch.observer/filing/0001193125-23-061153.json
- Plain text: https://secwatch.observer/filing/0001193125-23-061153.txt

## Key facts
- Earnings Releases
  SURGALIGN HOLDINGS, INC. reported year ended December 30, 2022 results: revenue approximately $82.0 million. Guidance reaffirmed.
  - Period: year ended December 30, 2022
  - Revenue: approximately $82.0 million
  - Guidance: reaffirmed
  - Result: preliminary results
  source text: and Confirms its Prior 2022 Revenue Guidance Company on track to achieve target cash savings of $30—$35 million in 2023 vs 2022; expects to report 2022 revenue of approximately $82.0 million and end the year with a cash balance in excess of $16 million Deerfield, Ill., March 6, 2023 – Surgalign Holdings, Inc. (Nasdaq: SRGA), a global medical technology company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1760173/000119312523061153/0001193125-23-061153-index.htm
- Restructurings & Charges
  SURGALIGN HOLDINGS, INC. announced a restructuring with charges of approximately $12.5—$15.5 million affecting companywide (reduction in force of approximately 20%).
  - Type: restructuring
  - Charge: approximately $12.5—$15.5 million
  - Affected area: companywide
  - Headcount: reduction in force of approximately 20%
  source text: underway and is expected to be finished by the middle of 2023. As part of this product rationalization, the Company expects to incur an inventory write down of approximately $12.5m - $15.5 million in its fourth quarter of 2022 for the period ended December 31, 2022. All other charges and costs disclosed within the November 9, 2022, Form 8-K have been
  evidence_url: https://www.sec.gov/Archives/edgar/data/1760173/000119312523061153/0001193125-23-061153-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.