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Product / Company Performance

ConforMIS Reports 4Q17, 2017 Revenue -

ConforMIS (CFMS) affirmed 4Q17 revenue of US $20.8MM, -3.9% vs. 4Q16, and 2017 revenue of $78.1MM, -2.1% vs. 2016, as was announced preliminarily in January 2018. Full-year revenue came in just above guidance, which had been restated in 3Q17.

  4Q17  4Q16  $ Change  % Change 
 Joint Reconstruction Knees $20.8  $21.6  -$0.8  -3.9% 

 

  2017  2016  $ Change  % Change 
 Joint Reconstruction Knees $78.1  $79.8  -$1.7  -2.1% 

 

4Q17 product sales breakdown:

  • iTotal CR, iUni and iDuo $14.8MM, -12%
  • iTotal PS $5.7MM, +23%


2017 product sales breakdown:

  • iTotal CR, iUni and iDuo $56.4MM, -13%
  • iTotal PS $20.7MM, +44%


Leadership maintains its position that the environment of value-based episodes of care is in CFMS’ favor. In 2017 and already in 2018, the company has sought to share study results that demonstrate significant results in patient satisfaction and costs of care, for example, with their patient-specific products vs. off-the-shelf knee replacement devices.

Changes in the U.S. sales structure and management are now in place, and patient engagement/direct-to-consumer campaigns are said to be bearing fruit. The acquisition of Broad Peak assets is driving gross margin improvements. While a change in partial knee reimbursement in Germany continued to affect ex-U.S. sales, this issue will anniversary out after 1Q18.

As of year-end, all iTotal CR and PS metal tibial trays and poly inserts are insourced. iTotal PS poly inserts were in-house as of December 2017, too. Development of new 3D printing processes for patient-specific instrumentation is expected to reduce print cycles and powder use, shrinking capital spend on 3D printers in 2018.

New product launches are said to be on track, including:

  • Entrance to the hip segment with iTotal Hip, limited launch 2H18: to be showcased at AAOS; will be a “hip in a box” with implants + one small instrument tray
  • Third-gen iUni partial knee, limited launch 2H19
  • Next-gen iTotal knee, limited launch 2H19: features including new cutting guide technology, new poly insert options, option for longer stem on tibial component


For 2018, leadership reaffirmed revenue guidance in a range of $79.6MM to $83.6MM.

Source: ConforMIS, Inc.

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