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Globus Medical (GMED) reported 4Q17 revenue of US $176.0MM, +16.1% vs. 4Q16, and 2017 revenue of $636.0MM, +12.8% vs. 2016.
ORTHOWORLD estimates for segment growth follow.
| 4Q17 | 4Q16 | $ Change | % Change | |
| Spine | $167.4 | $144.7 | $22.7 | 15.7% |
| Orthobiologics | $8.6 | $6.9 | $1.8 | 25.9% |
| Total | $176.0 | $151.6 | $24.4 | 16.1% |
| 2017 | 2016 | $ Change | % Change | |
| Spine | $604.8 | $537.7 | $67.0 | 12.5% |
| Orthobiologics | $31.2 | $26.3 | $4.9 | 18.8% |
| Total | $636.0 | $564.0 | $72.0 | 12.8% |
With ten trauma products now FDA-cleared and heading for 2Q full launch, we repeat: Globus Medical is not a pure-play spine company anymore!
GMED considers these ten to be their core trauma systems. Cases have commenced with one (ANTHEM, I believe, as it’s the only one shown on the Globus website right now), and inventory is building. Full launch is slated for 2Q18, and profit contributions of significance are expected in 2019. Other products found in FDA’s 510(k) database include ARBOR external fixation, AUTOBAHN nails and CAPTIVATE compression screws.
GMED ended the year strong overall, with growth in all parts of the business and Imaging, Navigation and Robotics posting its first revenues. Specific contributors included the Coalition integrated cervical fusion platform, CREO MIS pedicle screws and QUARTEX posterior cervical fixation. Leadership noted that overall, 4Q growth was 100% organic, as the Alphatec acquisition anniversaried in 3Q17.
Significant growth is expected for Japan this year, in light of aggressive hiring plans and the launch of expandable interbody technology.
Investments continue in product development enhancements to the robotics/navigation platform, and leadership noted there “might be something to show” by year-end or early 2019.
Analysts shared estimates between 12 and 15 ExcelsiusGPS units sold in 4Q17, with most placing robotics revenue in the range of $12MM to $14MM. For the full year, figures ran from the low end of $20MM to a high of $35MM. For 2018 trauma estimates, analysts offered from the lowest $2.9MM to as high as $10MM—but most stayed closer to $5MM for the year.
For its part, GMED leadership reaffirmed 2018 overall revenue guidance of ~$690MM.
Source: Globus Medical, Inc., ORTHOWORLD estimates
Globus Medical (GMED) reported 4Q17 revenue of US $176.0MM, +16.1% vs. 4Q16, and 2017 revenue of $636.0MM, +12.8% vs. 2016.
ORTHOWORLD estimates for segment growth follow.
Q17
Q16
$ Change
% Change
Spine ...
Globus Medical (GMED) reported 4Q17 revenue of US $176.0MM, +16.1% vs. 4Q16, and 2017 revenue of $636.0MM, +12.8% vs. 2016.
ORTHOWORLD estimates for segment growth follow.
| 4Q17 | 4Q16 | $ Change | % Change | |
| Spine | $167.4 | $144.7 | $22.7 | 15.7% |
| Orthobiologics | $8.6 | $6.9 | $1.8 | 25.9% |
| Total | $176.0 | $151.6 | $24.4 | 16.1% |
| 2017 | 2016 | $ Change | % Change | |
| Spine | $604.8 | $537.7 | $67.0 | 12.5% |
| Orthobiologics | $31.2 | $26.3 | $4.9 | 18.8% |
| Total | $636.0 | $564.0 | $72.0 | 12.8% |
With ten trauma products now FDA-cleared and heading for 2Q full launch, we repeat: Globus Medical is not a pure-play spine company anymore!
GMED considers these ten to be their core trauma systems. Cases have commenced with one (ANTHEM, I believe, as it’s the only one shown on the Globus website right now), and inventory is building. Full launch is slated for 2Q18, and profit contributions of significance are expected in 2019. Other products found in FDA’s 510(k) database include ARBOR external fixation, AUTOBAHN nails and CAPTIVATE compression screws.
GMED ended the year strong overall, with growth in all parts of the business and Imaging, Navigation and Robotics posting its first revenues. Specific contributors included the Coalition integrated cervical fusion platform, CREO MIS pedicle screws and QUARTEX posterior cervical fixation. Leadership noted that overall, 4Q growth was 100% organic, as the Alphatec acquisition anniversaried in 3Q17.
Significant growth is expected for Japan this year, in light of aggressive hiring plans and the launch of expandable interbody technology.
Investments continue in product development enhancements to the robotics/navigation platform, and leadership noted there “might be something to show” by year-end or early 2019.
Analysts shared estimates between 12 and 15 ExcelsiusGPS units sold in 4Q17, with most placing robotics revenue in the range of $12MM to $14MM. For the full year, figures ran from the low end of $20MM to a high of $35MM. For 2018 trauma estimates, analysts offered from the lowest $2.9MM to as high as $10MM—but most stayed closer to $5MM for the year.
For its part, GMED leadership reaffirmed 2018 overall revenue guidance of ~$690MM.
Source: Globus Medical, Inc., ORTHOWORLD estimates
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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.
