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Product / Company Performance

K2M Announces 2Q18 Revenue -

K2M posted 2Q18 revenue of US $73.6MM, +12.0% vs. 2Q17, and 1H18 revenue of $141.5MM, +10.9% vs. 1H17.

ORTHOWORLD estimates for segment growth follow.

  2Q18  2Q17  $ Change  % Change 
 Spine $71.0  $63.4  $7.6  12.0% 
 Orthobiologics $2.5  $2.3  $0.3  12.3% 
Total  $73.6  $65.7  $7.9  12.0% 

 

  1H18  1H17  $ Change  % Change 
 Spine $136.6  $123.3  $13.2  10.7% 
 Orthobiologics $4.9  $4.3  $0.6  14.2% 
Total  $141.5  $127.6  $13.9  10.9% 

 

Revenue by geographic region:

  2Q18  1H18 
 U.S. $54.33 $104.22
 Ex-U.S. $19.26 $37.24

 

Newer products continue to drive revenue performance. Leadership cited strong sales of EVEREST minimally invasive tools, CASCADIA 3D lateral 3D interbody, the MOJAVE PL 3D expandable spacer, YUKON OCT posterior fixation and NILE proximal fixation.

These and other new products, as well as new ex-U.S. distributor agreements and the partnership with Brainlab are expected to position K2M for strong second half growth.

The company extended its agreement with LifeHealth, its Australia distributor, through 2024, and did the same with Medcomtech, its partner in Spain and Portugal. Further, K2M acquired Medcomtech’s spine customer contracts and relationships, as well as all K2M product inventory and instrumentation. In Japan, K2M gained regulatory clearances for interbody cases and can now offer a robust range for deformity and degenerative cases in the region, where they have an exclusive distribution agreement with Japan Medicalnext.

The Brainlab partnership surpassed some exciting milestones in 2Q: engineering work is complete on the compatibility of K2M’s spinal systems and instrumentation with Brainlab’s intra-op image-guided navigation and imaging platforms; commercial teams have finished developing a targeting strategy, so they’re ready for launch upon regulatory clearance; and field management/clinical experts continue to train up. Brainlab has already placed units in two new hospital systems, even. Commercialization is expected by year-end.

Sources: K2M; ORTHOWORLD estimates

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