BARE BONES content is posted to these pages in real time.
Monthly compilations are available in PDF form.
Product / Company Performance
K2M Posts 3Q16 Revenue
K2M posted 3Q16 revenue of US $59.3MM, +7.8% vs. 3Q15. (U.S. $46.0MM, +16.5%, ex-U.S. $13.3MM, -14.3%) All growth is as reported.
ORTHOWORLD estimates 3Q16 segment revenue and as reported growth as follows.
- Spine $57.4MM, +7.6%
- Orthobiologics $1.9MM, +16.4%
- Overall growth attributed to greater sales volume from new U.S. users and existing U.S. users upgrading to new products, partially offset by decrease in existing customer usage and decreases in ex-U.S. direct and distributor revenue
- U.S. sales driven by strong summer deformity season, new customers across all categories but most notably in degeneration and complex spine
- U.S. complex spine +15.8%, degenerative +21.1% and MIS +6.7%
- Complex spine supported by new products: MESA 2 deformity, EVEREST deformity, NILE and CAPRI
- Degenerative continues to benefit from CASCADIA 3D
- Received FDA 510(k) clearance for screw/connector components for MESA system growing spine application
- Post-3Q, received FDA clearance for CASCADIA lateral Interbody line extension
- Commenced U.S. launch of CASCADIA interbody systems with Lamellar 3D titanium; ~50% of new users had not been using K2M interbody products in the past
- Notes that while broader spine competitors have focused on enabling technologies in navigation, imaging and robotics, K2M believes its “important to first gain a lead market mover position in the implant segment”
- Alluded to a broad global initiative slated for introduction at investor event in January 2017
- Update on Australia: remains committed to Life Healthcare partner as they focus on inventory control and working capital efficiencies; saw modest improvement in replenishment order trends in 3Q
- Update on Japan: resolved administrative registration issues with Pharmaceuticals and Medical Devices Agency, filed own product registrations and noted that local distribution partner is approved to sell again since September
Sources: K2M, Inc.; ORTHOWORLD Inc.
This article is a Member-only item of content. Members, please log in to read the complete post.
If you are not yet a Member, click here
to learn more about purchasing ORTHOWORLD Membership.