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NuVasive (NUVA) reported 2Q18 revenue of US $281.6MM, +8.5% vs. 2Q17, and 1H18 revenue of $542.1MM, +6.6% vs. 1H17.
ORTHOWORLD estimates for segment sales and growth follow.
| 2Q18 | 2Q17 | $ Change | % Change | |
| Spine | $245.4 | $221.6 | $23.7 | 10.7% |
| Trauma | $10.0 | $8.8 | $1.2 | 13.3% |
| Orthobiologics | $26.3 | $29.0 | -$2.7 | -9.4% |
| Total | $281.6 | $259.4 | $22.2 | 8.5% |
| 1H18 | 1H17 | $ Change | % Change | |
| Spine | $469.5 | $433.2 | $36.3 | 8.4% |
| Trauma | $18.6 | $16.4 | $2.3 | 13.8% |
| Orthobiologics | $54.0 | $58.8 | -$4.9 | -8.3% |
| Total | $542.1 | $508.4 | $33.7 | 6.6% |
Revenue by geographic region:
| 2Q18 | 1H18 | |
| U.S. | $226.95 | $440.25 |
| Ex-U.S. | $54.62 | $101.83 |
LOTS of information about FDA 510(k) cleared Pulse surgical automation! First, the revenue highlights.
Overall, 2Q revenue growth was driven by U.S. case volume, improvements in clinical services and solid ex-U.S. execution (particularly in Brazil and Japan). New technology introductions and an expanding surgeon base are supporting NuVasive’s ability to take market share globally.
NUVA’s U.S. hardware business was buoyed by a 7% case volume increase year over year, traction from the new Lateral Single-Position Surgery procedure and strong demand for products introduced in late 2017, such as RELINE posterior fixation, expandable implants and porous PEEK implants.
Of note, the Specialized Orthopedics division was called out with strong double-digit growth and a robust uptake of adult limb-lengthening.
Biologics faced a higher comp in the previous year; NUVA has adjusted to be more competitive and is recapturing lost accounts. A broader product offering—beyond Osteocel and toward synthetics, for example—is available. Improvement is expected in 2H18.
On to Pulse!
Pulse is the brand name for the foundation of hardware and software that supports a Surgical Intelligence “ecosystem” of neuromonitoring, surgical planning with artificial intelligence, rod bending, smart imaging, 2D/3D navigation and automation.
It is modular. Hospitals and ASCs can buy just the parts that they want. The navigation system is reportedly the first ever to be designed from scratch for spine. It is an open system, though the navigation will work best with NUVA implants. It will be priced lower than other robotic systems. NUVA plans more announcements about the automation aspect in 2019. (As we noted when reporting year-end revenue, the automation may or may not include a robotic element in the future.)
Pulse marks a “significant step in our evolution from a product-focused company to a systems-based company, committed to delivering end-to-end solutions for surgeons and hospital systems,” per CEO Gregory Lucier. NUVA will debut the system at NASS in September and begin taking orders, delivering to alpha customers first; commercial delivery is slated for 2Q19.
Sources: NuVasive, Inc.; ORTHOWORLD estimates
NuVasive (NUVA) reported 2Q18 revenue of US $281.6MM, +8.5% vs. 2Q17, and 1H18 revenue of $542.1MM, +6.6% vs. 1H17.
ORTHOWORLD estimates for segment sales and growth follow.
Q18
Q17
$ Change
% Change
Spine...
NuVasive (NUVA) reported 2Q18 revenue of US $281.6MM, +8.5% vs. 2Q17, and 1H18 revenue of $542.1MM, +6.6% vs. 1H17.
ORTHOWORLD estimates for segment sales and growth follow.
| 2Q18 | 2Q17 | $ Change | % Change | |
| Spine | $245.4 | $221.6 | $23.7 | 10.7% |
| Trauma | $10.0 | $8.8 | $1.2 | 13.3% |
| Orthobiologics | $26.3 | $29.0 | -$2.7 | -9.4% |
| Total | $281.6 | $259.4 | $22.2 | 8.5% |
| 1H18 | 1H17 | $ Change | % Change | |
| Spine | $469.5 | $433.2 | $36.3 | 8.4% |
| Trauma | $18.6 | $16.4 | $2.3 | 13.8% |
| Orthobiologics | $54.0 | $58.8 | -$4.9 | -8.3% |
| Total | $542.1 | $508.4 | $33.7 | 6.6% |
Revenue by geographic region:
| 2Q18 | 1H18 | |
| U.S. | $226.95 | $440.25 |
| Ex-U.S. | $54.62 | $101.83 |
LOTS of information about FDA 510(k) cleared Pulse surgical automation! First, the revenue highlights.
Overall, 2Q revenue growth was driven by U.S. case volume, improvements in clinical services and solid ex-U.S. execution (particularly in Brazil and Japan). New technology introductions and an expanding surgeon base are supporting NuVasive’s ability to take market share globally.
NUVA’s U.S. hardware business was buoyed by a 7% case volume increase year over year, traction from the new Lateral Single-Position Surgery procedure and strong demand for products introduced in late 2017, such as RELINE posterior fixation, expandable implants and porous PEEK implants.
Of note, the Specialized Orthopedics division was called out with strong double-digit growth and a robust uptake of adult limb-lengthening.
Biologics faced a higher comp in the previous year; NUVA has adjusted to be more competitive and is recapturing lost accounts. A broader product offering—beyond Osteocel and toward synthetics, for example—is available. Improvement is expected in 2H18.
On to Pulse!
Pulse is the brand name for the foundation of hardware and software that supports a Surgical Intelligence “ecosystem” of neuromonitoring, surgical planning with artificial intelligence, rod bending, smart imaging, 2D/3D navigation and automation.
It is modular. Hospitals and ASCs can buy just the parts that they want. The navigation system is reportedly the first ever to be designed from scratch for spine. It is an open system, though the navigation will work best with NUVA implants. It will be priced lower than other robotic systems. NUVA plans more announcements about the automation aspect in 2019. (As we noted when reporting year-end revenue, the automation may or may not include a robotic element in the future.)
Pulse marks a “significant step in our evolution from a product-focused company to a systems-based company, committed to delivering end-to-end solutions for surgeons and hospital systems,” per CEO Gregory Lucier. NUVA will debut the system at NASS in September and begin taking orders, delivering to alpha customers first; commercial delivery is slated for 2Q19.
Sources: NuVasive, Inc.; ORTHOWORLD estimates
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JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
