Aurora Spine reported 4Q18 revenue of USD $2.5MM, +82.4% vs. 4Q17, with full-year 2018 revenue of $8.7MM, +44.5% vs. 2017.
- Record year, with highest revenue in company’s history
- Integrated more products into Screwless Procedure, a surgical approach to spinal fusion that includes ZIP MIS Fusion Systems, TiNano Interbody cages and COMPASS 4D MIS lateral retractor system
- Acquired exclusive license to EASiFX SI fusion implant and surgical method from SILIF in November 2018
- Granted European patent for ZIP Ultra in October 2018
- Reached 100th Canadian surgical implant of ZIP Ultra in July 2018
ORTHOWORLD estimates segment sales and growth on an as-reported basis as follows ($MM).
| 4Q18 | 4Q17 | $ Chg | % Chg |
| Spine | $2.3 | $1.3 | $1.1 | 81.5% |
| Orthobiologics | $0.1 | $0.1 | $0.1 | 99.0% |
| Total | $2.5 | $1.4 | $1.1 | 82.4% |
| FY18 | FY17 | $ Chg | % Chg |
| Spine | $8.2 | $5.7 | $2.5 | 43.7% |
| Orthobiologics | $0.5 | $0.3 | $0.2 | 57.6% |
| Total | $8.7 | $6.0 | $2.7 | 44.5% |
Net earnings are as follows.
| FY18 | Amount ($MM) | % of Sales |
| Sales | $8.7 | |
| Cost of Sales | -$4.1 | 47.1% |
| General and Admin | -$2.9 | 33.1% |
| Marketing | $0.0 | 0.5% |
| R & D | $0.0 | 0.4% |
| Other | -$1.7 | 19.6% |
| Net Earnings | -$0.1 | -0.8% |
Sources: Aurora Spine Corporation; ORTHOWORLD estimates
Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.
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