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Product / Company Performance

Vericel Posts Record Growth in 2Q19 on New Surgeons -



  • Full year revenue guidance raised to $112MM to $116MM, an increase of $2MM on both the high and low ends
  • Growth driven by growing surgeon base and increased utilization
  • Vericel has increased the estimated total MACI surgeon base from 3,000 to 5,000
  • Leadership estimates that MACI has penetrated about 5% of the target addressable market of 60,000 patients per year
  • MACI sales force expanded to 48 representatives


Performance by Segment

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

  2Q19 2Q18 $ Chg % Chg
Orthobiologics $20.8 $14.1 $6.7 47.5%
  2Q19 2Q18 $ Chg % Chg
Orthobiologics $20.8 $14.1 $6.7 47.5%


Net Earnings Data

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

  Amt % of Sales
Sales $26.2  
   Cost of Sales -$9.0 34.4%
   Selling and Admin -$16.3 62.1%
   R & D -$21.1 80.4%
   Other $0.4 1.4%
Net Earnings -$19.8 -75.5%


Sources: Vericel; ORTHOWORLD estimates

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

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