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Product / Company Performance

SI-BONE reports 1Q19 revenue of $15MM, +17.9% vs. 1Q18 -

By Mike Evers, ORTHOWORLD

 

SI-BONE reported 1Q19 revenue of USD $15MM, +17.9% vs. 1Q18.

  • Reiterated 2019 guidance in the range of $65MM to $66.5MM, growth of 17% to 20%
  • Received FDA 510(k) clearance for a broader indication using iFuse Bedrock
  • Launched single-use decorticator products in the U.S.
  • Gained positive reimbursement coverage from BCBS Alabama and converted BCBS Vermont and Highmark BCBS to exclusive coverage

 

Segment sales and growth on an as-reported basis ($MM):

  1Q19 1Q18 % Chg % Chg
Spine $15.0 $12.7 $2.3 17.9%

Revenue by geographic region ($MM):

Geographic Region 1Q19 1Q18 % Chg % Chg
US $13.5 $11.4 $2.2 18.9%
Ex-US $1.5 $1.4 $0.1 9.5%
Total $15.0 $12.7 $2.3 17.9%

Net earnings ($MM):

1Q19 Amount % of Sales
Sales $15.0  
   Cost of Sales -$1.5 10.2%
   General and Admin -$4.8 31.8%
   Sales and Marketing -$15.8 105.5%
   R & D -$1.7 11.2%
   Other -$0.5 3.6%
Net Earnings -$9.3 -62.3%

 

Source: SI-BONE

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

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