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Exactech posted 2Q17 revenue of US $67.3MM, +1.8% vs. 2Q16, and 1H17 revenue of $136.8MM, +4.1% vs. 1H16.
| 2Q17 | 2Q16 | $ Change | % Change | |
| Joint Reconstruction | $65.3 | $61.8 | $3.5 | 5.6% |
| Knee | $21.5 | $21.5 | $0.0 | 0.2% |
| Hip | $12.5 | $13.4 | -$1.0 | -7.2% |
| Extremities | $31.3 | $27.0 | $4.4 | 16.3% |
| Spine | $0.0 | $2.0 | -$2.0 | -100.0% |
| Orthobiologics | $2.0 | $2.3 | -$0.3 | -13.3% |
| Total | $67.3 | $66.1 | $1.2 | 1.8% |
| 1H17 | 1H16 | $ Change | % Change | |
| Joint Reconstruction | $132.6 | $122.9 | $9.7 | 7.9% |
| Knee | $43.6 | $43.3 | $0.3 | 0.8% |
| Hip | $25.6 | $25.8 | -$0.2 | -0.8% |
| Extremities | $63.4 | $53.8 | $9.6 | 17.8% |
| Spine | $0.3 | $3.8 | -$3.5 | -92.5% |
| Orthobiologics | $3.9 | $4.7 | -$0.8 | -16.9% |
| Total | $136.8 | $131.4 | $5.4 | 4.1%* |
*Excluding the impact of divested spine products, 1H17 growth would be 7%
2Q17 Geographic results: U.S. $45.6MM, +2.4%; ex-U.S. $21.6MM, +0.6%
Performance highlights:
- Recon extremities growth benefited somewhat from Vantage ankle pilot launch, as well as the Equinoxe Preserve humeral stem
- Hips negatively affected by price pressure and certain ex-U.S. distribution transitions: changing out a distributor, in one instance, and changing a business model in another
- Knee revenue offset by price decreases
- Ongoing pilot launches of Truliant knee, Alteon HA hip stem and ExactechGPS shoulder application progressing well
- Completed first Truliant procedures in mid-2Q, now over 150 surgeries in; logged first Equinoxe Preserve and Alteon hip stem procedures by quarter’s end
- In 2H17, will build inventory for Truliant knee, pursuing full launch by year-end
- At the very end of the quarter, entered pilot launch for ExactechGPS TKA PLUS
- Rotating Bearing Knee is still with FDA – no further updates yet
- Announced first clinical use in Japan of recently-approved systems, including the Optetrak Logic CR knee, Novation Crown Cup, Alteon Tapered Wedge Stem and Equinoxe Reverse Shoulder
- After quarter’s close, entered an agreement to sell 100% of its investment in Exactech Medical Shanghai to Double Medical Technology for cash proceeds of $1.6MM; at closing—expected in 2H17—will enter into a distribution agreement for Double Medical to market Exactech’s products in China
Source: Exactech, Inc.; Form 10-Q, SEC.gov
Exactech posted 2Q17 revenue of US $67.3MM, +1.8% vs. 2Q16, and 1H17 revenue of $136.8MM, +4.1% vs. 1H16.
Q17
Q16
$ Change
% Change
Joint Reconstruction
$65.3
$61.8
$3.5 ...
Exactech posted 2Q17 revenue of US $67.3MM, +1.8% vs. 2Q16, and 1H17 revenue of $136.8MM, +4.1% vs. 1H16.
| 2Q17 | 2Q16 | $ Change | % Change | |
| Joint Reconstruction | $65.3 | $61.8 | $3.5 | 5.6% |
| Knee | $21.5 | $21.5 | $0.0 | 0.2% |
| Hip | $12.5 | $13.4 | -$1.0 | -7.2% |
| Extremities | $31.3 | $27.0 | $4.4 | 16.3% |
| Spine | $0.0 | $2.0 | -$2.0 | -100.0% |
| Orthobiologics | $2.0 | $2.3 | -$0.3 | -13.3% |
| Total | $67.3 | $66.1 | $1.2 | 1.8% |
| 1H17 | 1H16 | $ Change | % Change | |
| Joint Reconstruction | $132.6 | $122.9 | $9.7 | 7.9% |
| Knee | $43.6 | $43.3 | $0.3 | 0.8% |
| Hip | $25.6 | $25.8 | -$0.2 | -0.8% |
| Extremities | $63.4 | $53.8 | $9.6 | 17.8% |
| Spine | $0.3 | $3.8 | -$3.5 | -92.5% |
| Orthobiologics | $3.9 | $4.7 | -$0.8 | -16.9% |
| Total | $136.8 | $131.4 | $5.4 | 4.1%* |
*Excluding the impact of divested spine products, 1H17 growth would be 7%
2Q17 Geographic results: U.S. $45.6MM, +2.4%; ex-U.S. $21.6MM, +0.6%
Performance highlights:
- Recon extremities growth benefited somewhat from Vantage ankle pilot launch, as well as the Equinoxe Preserve humeral stem
- Hips negatively affected by price pressure and certain ex-U.S. distribution transitions: changing out a distributor, in one instance, and changing a business model in another
- Knee revenue offset by price decreases
- Ongoing pilot launches of Truliant knee, Alteon HA hip stem and ExactechGPS shoulder application progressing well
- Completed first Truliant procedures in mid-2Q, now over 150 surgeries in; logged first Equinoxe Preserve and Alteon hip stem procedures by quarter’s end
- In 2H17, will build inventory for Truliant knee, pursuing full launch by year-end
- At the very end of the quarter, entered pilot launch for ExactechGPS TKA PLUS
- Rotating Bearing Knee is still with FDA – no further updates yet
- Announced first clinical use in Japan of recently-approved systems, including the Optetrak Logic CR knee, Novation Crown Cup, Alteon Tapered Wedge Stem and Equinoxe Reverse Shoulder
- After quarter’s close, entered an agreement to sell 100% of its investment in Exactech Medical Shanghai to Double Medical Technology for cash proceeds of $1.6MM; at closing—expected in 2H17—will enter into a distribution agreement for Double Medical to market Exactech’s products in China
Source: Exactech, Inc.; Form 10-Q, SEC.gov
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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.
