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OrthoPediatrics reported 1Q24 orthopedic sales of $38.7 million, up 22.5% compared to the first quarter of 2024. As a reminder, we estimate the contribution from the company’s Specialty Bracing business and remove it from our numbers.
Volume and staffing headwinds are typically exacerbated in the pediatric surgical market. Respiratory syncytial virus (RSV) cases can cause havoc, while the specialized training required of a pediatric surgical team has slowed the staffing rebound.
OrthoPediatrics said that children’s hospitals quickly bounced back from a January RSV spike. The company estimates the pediatric surgical market is back to 95% normal capacity, with improvements coming each month. The market’s seasonally busy summer months will test that improved capacity.
Strong sales of PNP Femur, ORTHEX and PNP Tibia drove trauma growth. Domestic sales of ApiFix and fusion products drove growth in the spine segment.
OrthoPediatrics expects 2024 total sales between $200 million and $203 million, reflecting growth between 34% and 36%.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 1Q24 | 1Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $8.4 | $7.1 | $1.3 | 18.3% |
| Trauma | $29.1 | $23.4 | $5.7 | 24.6% |
| Sports Medicine | $1.2 | $1.1 | $0.1 | 5.3% |
| Total | $38.7 | $31.6 | $7.1 | 22.5% |
Orthopedic Sales by Geography
| Region | 1Q24 | 1Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $29.7 | $23.8 | $5.9 | 24.8% |
| OUS | $9.0 | $7.8 | $1.2 | 15.4% |
| Total | $38.7 | $31.6 | $7.1 | 22.5% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $44.7 | |
| Cost of Sales | $12.5 | 28% |
| General and Admin | $14.2 | 31.7% |
| Selling and Marketing | $24.7 | 55.3% |
| R & D | $3.0 | 6.7% |
| Net Earnings | ($9.7) | (21.8%) |
OrthoPediatrics reported 1Q24 orthopedic sales of $38.7 million, up 22.5% compared to the first quarter of 2024. As a reminder, we estimate the contribution from the company's Specialty Bracing business and remove it from our numbers.
Volume and staffing headwinds are typically exacerbated in the pediatric surgical market. Respiratory...
OrthoPediatrics reported 1Q24 orthopedic sales of $38.7 million, up 22.5% compared to the first quarter of 2024. As a reminder, we estimate the contribution from the company’s Specialty Bracing business and remove it from our numbers.
Volume and staffing headwinds are typically exacerbated in the pediatric surgical market. Respiratory syncytial virus (RSV) cases can cause havoc, while the specialized training required of a pediatric surgical team has slowed the staffing rebound.
OrthoPediatrics said that children’s hospitals quickly bounced back from a January RSV spike. The company estimates the pediatric surgical market is back to 95% normal capacity, with improvements coming each month. The market’s seasonally busy summer months will test that improved capacity.
Strong sales of PNP Femur, ORTHEX and PNP Tibia drove trauma growth. Domestic sales of ApiFix and fusion products drove growth in the spine segment.
OrthoPediatrics expects 2024 total sales between $200 million and $203 million, reflecting growth between 34% and 36%.
Orthopedic Sales Data
Unless otherwise noted, all orthopedic sales data is provided in USD millions. We estimate orthopedic sales and growth rates on an as-reported basis.
Orthopedic Sales by Segment
| Segment | 1Q24 | 1Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| Spine | $8.4 | $7.1 | $1.3 | 18.3% |
| Trauma | $29.1 | $23.4 | $5.7 | 24.6% |
| Sports Medicine | $1.2 | $1.1 | $0.1 | 5.3% |
| Total | $38.7 | $31.6 | $7.1 | 22.5% |
Orthopedic Sales by Geography
| Region | 1Q24 | 1Q23 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $29.7 | $23.8 | $5.9 | 24.8% |
| OUS | $9.0 | $7.8 | $1.2 | 15.4% |
| Total | $38.7 | $31.6 | $7.1 | 22.5% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $44.7 | |
| Cost of Sales | $12.5 | 28% |
| General and Admin | $14.2 | 31.7% |
| Selling and Marketing | $24.7 | 55.3% |
| R & D | $3.0 | 6.7% |
| Net Earnings | ($9.7) | (21.8%) |
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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.
