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Product / Company Performance

Aurora Spine Reports 4Q18 Revenue of $2.5MM, +82.4% vs. 4Q17 -

By Mike Evers, ORTHOWORLD

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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