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Conformis reported 2Q20 orthopedic revenue of USD $19.5 million, -0.6% vs. 2Q19. Nearly half the company’s revenue for the quarter came from royalties paid by Zimmer Biomet in a settlement concerning patient-specific instrument patents. Conformis’ product revenue declined by -51.5% in the second quarter. The company remains on track to meet milestones for its patient-specific instrument supply agreement with Stryker. It estimates the deal could contribute $10 million to $20 million in annual revenue within five years.
To leverage the acceleration of ASCs, Conformis announced it will launch a line of knee replacements with standardized polyethylene inserts. The new implants will use the iView preplanning system as well as patient-specific instruments to provide a “knee in a box” with lower costs and shorter lead times compared to Conformis’ customized knees. The company expects to launch the new knee system in 2H21.
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 2Q20 | 2Q19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement Knees | $18.9 | $19.1 | ($0.2) | (1%) |
| Joint Replacement Hips | $0.6 | $0.5 | $0.1 | 12% |
| Total | $19.5 | $19.6 | ($0.1) | (0.6%) |
| 1H20 | 1H19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement Knees | $34.9 | $39.2 | ($4.3) | (11%) |
| Joint Replacement Hips | $1.0 | $1.0 | $0.0 | 1.5% |
| Total | $35.9 | $40.2 | ($4.3) | (10.7%) |
Geographic Sales
| 2Q20 | 2Q19 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $18.1 | $17.5 | $0.6 | 3.5% |
| OUS | $1.4 | $2.1 | ($0.7) | (34.1%) |
| Total | $19.5 | $19.6 | ($0.1) | (0.6%) |
| 1H20 | 1H19 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $32.1 | $35.2 | ($3.2) | (9%) |
| OUS | $3.9 | $5.0 | ($1.1) | (22.7%) |
| Total | $35.9 | $40.2 | ($4.3) | (10.7%) |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $19.5 | |
| Cost of Sales | $8.5 | 43.4% |
| Sales and Marketing | $4.1 | 21.1% |
| R & D | $2.7 | 14.1% |
| General and Admin | $6.5 | 33.3% |
| Other | ($0.2) | (0.8%) |
| Net Earnings | ($2.1) | (11%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Conformis reported 2Q20 orthopedic revenue of USD $19.5 million, -0.6% vs. 2Q19. Nearly half the company's revenue for the quarter came from royalties paid by Zimmer Biomet in a settlement concerning patient-specific instrument patents. Conformis' product revenue declined by -51.5% in the second quarter. The company remains on track to...
Conformis reported 2Q20 orthopedic revenue of USD $19.5 million, -0.6% vs. 2Q19. Nearly half the company’s revenue for the quarter came from royalties paid by Zimmer Biomet in a settlement concerning patient-specific instrument patents. Conformis’ product revenue declined by -51.5% in the second quarter. The company remains on track to meet milestones for its patient-specific instrument supply agreement with Stryker. It estimates the deal could contribute $10 million to $20 million in annual revenue within five years.
To leverage the acceleration of ASCs, Conformis announced it will launch a line of knee replacements with standardized polyethylene inserts. The new implants will use the iView preplanning system as well as patient-specific instruments to provide a “knee in a box” with lower costs and shorter lead times compared to Conformis’ customized knees. The company expects to launch the new knee system in 2H21.
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 2Q20 | 2Q19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement Knees | $18.9 | $19.1 | ($0.2) | (1%) |
| Joint Replacement Hips | $0.6 | $0.5 | $0.1 | 12% |
| Total | $19.5 | $19.6 | ($0.1) | (0.6%) |
| 1H20 | 1H19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Joint Replacement Knees | $34.9 | $39.2 | ($4.3) | (11%) |
| Joint Replacement Hips | $1.0 | $1.0 | $0.0 | 1.5% |
| Total | $35.9 | $40.2 | ($4.3) | (10.7%) |
Geographic Sales
| 2Q20 | 2Q19 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $18.1 | $17.5 | $0.6 | 3.5% |
| OUS | $1.4 | $2.1 | ($0.7) | (34.1%) |
| Total | $19.5 | $19.6 | ($0.1) | (0.6%) |
| 1H20 | 1H19 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $32.1 | $35.2 | ($3.2) | (9%) |
| OUS | $3.9 | $5.0 | ($1.1) | (22.7%) |
| Total | $35.9 | $40.2 | ($4.3) | (10.7%) |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $19.5 | |
| Cost of Sales | $8.5 | 43.4% |
| Sales and Marketing | $4.1 | 21.1% |
| R & D | $2.7 | 14.1% |
| General and Admin | $6.5 | 33.3% |
| Other | ($0.2) | (0.8%) |
| Net Earnings | ($2.1) | (11%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
