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Product / Company Performance

SI-BONE Continues Growth in 2Q19 on Payor Coverage -



  • Salesforce expansion and growing payor coverage are starting to add to revenue growth momentum
  • International sales met leadership expectations, except for Germany, which experienced residual softness from 2H18
  • Surpassed 40,000 iFuse procedures performed by over 1,900 surgeons worldwide
  • Launched iFuse Bedrock in the U.S.


Performance by Segment

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

  2Q19 2Q18 % Chg % Chg
Spine $16.3 $13.7 $2.7 19.4%
  1H19 1H18 % Chg % Chg
Spine $31.3 $26.4 $4.9 18.7%


Sales by Geographic Region

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

  2Q19 2Q18 % Chg % Chg
US $15.0 $12.2 $2.9 23.5%
Ex-US $1.3 $1.5 -$0.2 -13.6%
Total $16.3 $13.7 $2.7 19.4%


Net Earnings Data

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

  Amt % of Sales
Sales $16.3  
   Cost of Sales -$1.6 9.7%
   General and Admin -$4.2 25.7%
   Sales and Marketing -$16.7 102.5%
   R & D -$1.9 11.9%
   Other -$0.5 3.2%
Net Earnings -$8.7 -53.0%


Source: SI-BONE 

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

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