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Orthofix (OFIX) posted 4Q17 revenue of US $116.9MM, +7.7% from 4Q16, and 2017 revenue of $433.8MM, +5.9% vs. 2016. The company exceeded the top end of its full-year guidance, which it had increased as of 3Q17 to $428MM to $431MM.
| 4Q17 | 4Q16 | $ Change | % Change | |
| Trauma | $29.1 | $26.8 | $2.3 | 8.4% |
| Spine | $21.2 | $18.7 | $2.5 | 13.5% |
| Orthobiologics | $16.9 | $15.2 | $1.6 | 10.7% |
| Other* | $49.8 | $47.8 | $2.0 | 4.1% |
| Total | $116.9 | $108.5 | $8.4 | 7.7% |
| 2017 | 2016 | $ Change | % Change | |
| Trauma | $103.2 | $102.7 | $0.6 | 0.5% |
| Spine | $82.0 | $72.6 | $9.3 | 12.8% |
| Orthobiologics | $62.7 | $57.9 | $4.8 | 8.3% |
| Other* | $185.9 | $176.6 | $9.3 | 5.3% |
| Total | $433.8 | $409.8 | $24.0 | 5.9% |
*Biostim
Top company performers, Spine and Orthobiologics, if combined, would yield full-year revenue of $144.6MM with YoY growth of nearly 11%. Spine growth derived mostly from new products plus a growing U.S. salesforce, while Trinity Elite allograft continued to drive strength in obio.
Pediatric and foot/ankle a supported momentum in trauma sales (the company derives ~35% of exfix revenue from pediatric procedures), and growth of Biostim products was driven by uptake of next-gen bone growth stimulators and the Stim Ontrack mobile app.
After the quarter closed, OFIX commenced enrollment in an IDE study on the use of the RCStim pulsed electromagnetic field device as an adjunct to surgical repair of full thickness rotator cuff tears. The prospective, randomized, double-blind, placebo-controlled trial will enroll ~538 adult patients at up to 30 U.S. sites, with 2-year follow-up.
OFIX launched 20 new products and line extensions last year, and 17 are slated for 2018, breaking down as:
- Trauma: 6 (RIVAL foot/ankle internal fixation will complete full launch by mid-year; other products will include staples, bunionectomy devices, etc.)
- Spine: 7 (including the FORZA XP Expandable Spacer for PLIF and TLIF, which received FDA clearance in 1Q18)
- Orthobiologics: 2 (new Trinity technologies are in development with MTF Biologics)
- Biostim: 2
For 2018, leadership cites revenue guidance in a range of $450.0MM to $455.0MM.
Source: Orthofix International N.V.
Orthofix (OFIX) posted 4Q17 revenue of US $116.9MM, +7.7% from 4Q16, and 2017 revenue of $433.8MM, +5.9% vs. 2016. The company exceeded the top end of its full-year guidance, which it had increased as of 3Q17 to $428MM to $431MM.
Q17
Q16
$ Change
%...
Orthofix (OFIX) posted 4Q17 revenue of US $116.9MM, +7.7% from 4Q16, and 2017 revenue of $433.8MM, +5.9% vs. 2016. The company exceeded the top end of its full-year guidance, which it had increased as of 3Q17 to $428MM to $431MM.
| 4Q17 | 4Q16 | $ Change | % Change | |
| Trauma | $29.1 | $26.8 | $2.3 | 8.4% |
| Spine | $21.2 | $18.7 | $2.5 | 13.5% |
| Orthobiologics | $16.9 | $15.2 | $1.6 | 10.7% |
| Other* | $49.8 | $47.8 | $2.0 | 4.1% |
| Total | $116.9 | $108.5 | $8.4 | 7.7% |
| 2017 | 2016 | $ Change | % Change | |
| Trauma | $103.2 | $102.7 | $0.6 | 0.5% |
| Spine | $82.0 | $72.6 | $9.3 | 12.8% |
| Orthobiologics | $62.7 | $57.9 | $4.8 | 8.3% |
| Other* | $185.9 | $176.6 | $9.3 | 5.3% |
| Total | $433.8 | $409.8 | $24.0 | 5.9% |
*Biostim
Top company performers, Spine and Orthobiologics, if combined, would yield full-year revenue of $144.6MM with YoY growth of nearly 11%. Spine growth derived mostly from new products plus a growing U.S. salesforce, while Trinity Elite allograft continued to drive strength in obio.
Pediatric and foot/ankle a supported momentum in trauma sales (the company derives ~35% of exfix revenue from pediatric procedures), and growth of Biostim products was driven by uptake of next-gen bone growth stimulators and the Stim Ontrack mobile app.
After the quarter closed, OFIX commenced enrollment in an IDE study on the use of the RCStim pulsed electromagnetic field device as an adjunct to surgical repair of full thickness rotator cuff tears. The prospective, randomized, double-blind, placebo-controlled trial will enroll ~538 adult patients at up to 30 U.S. sites, with 2-year follow-up.
OFIX launched 20 new products and line extensions last year, and 17 are slated for 2018, breaking down as:
- Trauma: 6 (RIVAL foot/ankle internal fixation will complete full launch by mid-year; other products will include staples, bunionectomy devices, etc.)
- Spine: 7 (including the FORZA XP Expandable Spacer for PLIF and TLIF, which received FDA clearance in 1Q18)
- Orthobiologics: 2 (new Trinity technologies are in development with MTF Biologics)
- Biostim: 2
For 2018, leadership cites revenue guidance in a range of $450.0MM to $455.0MM.
Source: Orthofix International N.V.
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
