The increase was mainly driven by variable expenses associated with net sales growth, higher depreciation costs from investments in surgical instrument sets, and inflationary impacts, particularly in travel and freight.

Feb 22, 2023 / receipt, needs a key / Matt Harbaugh, CFO | earnings call 2023-02-22 | transcript 57f6187f-bb98-4e79-a690-c975acfd9dc6 | chars 13690-13909 | segment 13

The year-over-year increase was primarily driven by variable expenses on net sales, higher depreciation costs from investments in surgical instrument sets, and inflationary impacts in areas such as travel and freight costs.

Nov 9, 2022 / receipt, needs a key / Matt Harbaugh, CFO | earnings call 2022-11-09 | transcript 2495a57a-1d8a-4d72-8b05-f5813e0e2627 | chars 13883-14106 | segment 13

Increased costs due to inflation negatively impacted several expense areas, including fuel surcharges on freight shipments, increased travel costs, and higher compensation costs.

Aug 3, 2022 / receipt, needs a key / Matt Harbaugh, CFO | earnings call 2022-08-03 | transcript 919e7591-62e1-43b7-a9b0-1a15fb80e374 | chars 13577-13755 | segment 13

The year-over-year increase was primarily driven by investments in our commercial channel, higher labor costs, and increased freight and travel expenses.

Feb 23, 2022 / receipt, needs a key / Matt Harbaugh, CFO | earnings call 2022-02-23 | transcript 7f05e6cc-4c6e-4622-8bc6-a191befb932b | chars 15886-16039 | segment 16

Earning to non-GAAP operating margin, which we expect in the range of 13% to 14.5%, reflects a return to a normalized level of spending, particularly in travel and surgeon training, as well as inflation-related impacts.

Feb 23, 2022 / receipt, needs a key / Matt Harbaugh, CFO | earnings call 2022-02-23 | transcript 7f05e6cc-4c6e-4622-8bc6-a191befb932b | chars 21715-21934 | segment 22

These reductions were offset by infrastructure investments and a moderate return to necessary business travel.

Nov 9, 2021 / receipt, needs a key / Chris Berry, CEO | earnings call 2021-11-09 | transcript 70498c1f-0c9f-4999-824a-c5eed31eb9ad | chars 16415-16525 | segment 16

As COVID-19 restrictions eased and travel began to resume, we experienced a double-digit increase in surgeons trained quarter over quarter, which is in line with our 2019 numbers.

Jul 28, 2021 / receipt, needs a key / Chris Berry, CEO | earnings call 2021-07-28 | transcript d1fe53e4-8420-476d-acc7-fbca31e26f58 | chars 11118-11297 | segment 11

In addition, we expect SG&A expenses to increase sequentially as business travel returns.

Jul 28, 2021 / receipt, needs a key / Matt Harbaugh, CFO | earnings call 2021-07-28 | transcript d1fe53e4-8420-476d-acc7-fbca31e26f58 | chars 19559-19648 | segment 19

Early in the pandemic, we developed a suite of online training resources, and over the last quarter, started to ramp up regional and localized in-person training labs closer to surgeons due to ongoing COVID-19 travel and safety concerns.

Oct 29, 2020 / receipt, needs a key / Chris Berry, CEO | earnings call 2020-10-29 | transcript 36789915-fe25-482b-a517-3d2586bd2892 | chars 4907-5144 | segment 4