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Product / Company Performance

OrthoPediatrics Records Highest Revenue Quarter in Company History -

OrthoPediatrics reported 3Q19 revenue of USD $20.7MM, +31.1% vs. 3Q18.

 

  • The company raised 2019 full year guidance to the range of $70.8MM (+23%) to $71.9MM (+25%)
  • Recent product introductions like the small stature scoliosis system and BandLoc DUO made 3Q19 the highest revenue quarter in the company’s history
  • Three surgeons who were out of practice returned to limited volume at new institutions and helped drive incremental revenues in the quarter
  • The OrthoPediatrics salesforce grew by 21% to 158 consultants
  • Through nine months in 2019, the company has deployed $13.7MM in instrument sets, an increase of 29% vs. the same period in 2018
  • Started shipping two new cannulated screw systems in September 2019 and expects to launch the PediFoot pediatric foot and ankle solution later in November 2019
  • Leadership is pleased with the first full quarter of owning Vilex, and expects to divest all adult assets by year end; will continue to explore further acquisitions to complement their pediatric portfolio
  • OrthoPediatrics sees a comparatively softer 4Q, in line with seasonal expectations for pediatrics
  • ORTHOWORLD projects OrthoPediatrics full year 2019 revenue of $71.8MM, +24.8% vs. 2018

 

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

  3Q19 3Q18 $ Chg % Chg
Spine $6.5 $5.0 $1.4 28.7%
Trauma $13.8 $10.6 $3.3 31.0%
Sports Medicine $0.4 $0.2 $0.2 89.6%
Total $20.7 $15.8 $4.9 31.1%
  9Mo 19 9Mo 18 $ Chg % Chg
Spine $16.6 $12.6 $4.0 31.6%
Trauma $35.7 $29.5 $6.2 21.0%
Sports Medicine $1.3 $0.8 $0.4 51.3%
Total $53.6 $43.0 $10.6 24.7%

 

ORTHOWORLD estimates sales by geographic region as follows ($MM).

  3Q19 3Q18 $ Chg % Chg
US $16.8 $12.4 $4.4 35.1%
Ex-US $4.0 $3.4 $0.6 16.5%
Total $20.7 $15.8 $4.9 31.1%

 

Net earnings are as follows ($MM).

  Amt % of Sales
Sales $20.7  
   Cost of Sales -$4.8 23.4%
   General and Admin -$7.3 35.0%
   Selling and Marketing -$8.8 42.3%
   R & D -$1.4 6.7%
   Other -$1.1 5.4%
Net Earnings -$2.7 -12.8%

 

Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.

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