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Product / Company Performance

OrthoPediatrics Continues Record Growth in 2Q19 -

By Mike Evers, ORTHOWORLD

 

  • Increased 2019 revenue guidance to a range of 23% to 25% growth
  • Acquisition of Orthex expands coverage from 60% to 80% of addressable trauma and deformity market and expands existing surgeon base
  • Trauma growth partially driven by continued uptake of PNP Femur intramedullary nail system, launched in June 2018
  • Increased summer volume of elective deformity surgeries offset a seasonal slowdown in 1Q
  • Set deployments year to date are in the $12MM range, on pace for between $15MM and $17MM for the full year

 

 

Performance by Segment

ORTHOWORLD estimates segment sales and growth on an as-reported basis, as follows ($MM):

  2Q19 2Q18 $ Chg % Chg
Spine $5.9 $4.9 $1.0 19.8%
Trauma $11.9 $9.9 $2.0 20.6%
Sports Medicine $0.4 $0.3 $0.1 39.7%
Total $18.2 $15.1 $3.1 20.7%
  1H19 1H18 $ Chg % Chg
Spine $10.1 $7.6 $2.5 33.5%
Trauma $21.9 $19.0 $2.9 15.4%
Sports Medicine $0.8 $0.6 $0.2 36.6%
Total $32.9 $27.2 $5.7 20.9%

 

Sales by Geographic Region

ORTHOWORLD estimates geographic sales and growth as follows ($MM):

  2Q19 2Q18 $ Chg % Chg
US $13.8 $11.5 $2.4 20.9%
Ex-US $4.4 $3.6 $0.7 20.3%
Total $18.2 $15.1 $3.1 20.7%

 

Net Earnings Data

Net earnings, inclusive of all revenue, are as follows.

  Amt % of Sales
Sales $18.2  
   Cost of Sales -$4.6 25.2%
   General and Admin -$6.6 36.1%
   Selling and Marketing -$7.6 41.8%
   R & D -$1.2 6.8%
   Other -$0.8 4.5%
Net Earnings -$2.6 -14.4%

 

Source: OrthoPediatrics

Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.

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