Copy to clipboard 
NuVasive reported 4Q20 orthopedic revenue of USD $291.8 million, -6% vs. 4Q19 with full-year 2020 revenue of $1 billion, -10.1% vs. 2019. The company enjoyed relatively stable case volumes through mid-December, but COVID’s second wave brought significant disruption through year-end, particularly in the U.S. and Europe. NuVasive expects volumes to improve through 1H21, but to remain below 2019 levels for the first half.
In the fourth quarter, the company unveiled its C360 portfolio focused on the estimated $2.6 billion cervical spine market. C360 is a procedurally integrated portfolio for anterior and posterior cervical spine surgery. The portfolio got a crucial new component with NuVasive’s early-2021 acquisition of Simplify Medical and its artificial cervical disc. NuVasive doesn’t expect revenue from Simplify until 2022, but believes the acquisition has $250 million to $300 million of revenue upside.
The company’s integrated technology platform, Pulse, will also begin generating meaningful revenue in 2022. NuVasive remains on track for a global launch in summer 2021, with the first cases most likely occurring in Europe. At launch, the system will include 3D navigation, intraoperative neuromonitoring, the Bendini rod bending application as well as integration with leading 3D-imaging technologies. Upgrades made to the system in 2020 allowed NuVasive to expand Pulse’s launch capabilities with the proprietary LessRay application. The company’s aim is for Pulse to be useful in 100% of spine surgeries, thereby quickly driving adoption. The timeline for Pulse’s robotic component remains unchanged, with first in human cases scheduled for 2022.
“We thought the spine market pre-COVID was growing in the 0% to 2% range. I don’t think that’s necessarily changed. I think the COVID dynamic obviously slows the market down and had an impact in 2020 moving through this year. We consider ourselves a number three share position player in the market, slightly behind the few with our sites squarely set on changing that over the next year or so.” – NuVasive CEO Chris Barry
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 4Q20 | 4Q19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $253.2 | $267.7 | ($14.5) | (5.4%) |
| Trauma | $13.1 | $13.6 | ($0.5) | (3.8%) |
| Orthobiologics | $25.5 | $29.0 | ($3.5) | (12%) |
| Total | $291.8 | $310.4 | ($18.5) | (6%) |
| FY20 | FY19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $914.3 | $1,013.1 | ($98.8) | (9.8%) |
| Trauma | $45.7 | $48.8 | ($3.0) | (6.2%) |
| Orthobiologics | $90.5 | $106.2 | ($15.6) | (14.7%) |
| Total | $1,050.6 | $1,168.1 | ($117.5) | (10.1%) |
Geographic Sales
| 4Q20 | 4Q19 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $224.2 | $248.5 | ($24.2) | (9.8%) |
| OUS | $67.6 | $61.9 | $5.7 | 9.2% |
| EMEA | $43.9 | $41.0 | $2.9 | 7.1% |
| Asia Pacific | $17.6 | $14.1 | $3.5 | 24.8% |
| Rest of World | $6.1 | $6.8 | ($0.7) | (10.6%) |
| Total | $291.8 | $310.4 | ($18.5) | (6%) |
| FY20 | FY19 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $821.8 | $941.1 | ($119.3) | (12.7%) |
| OUS | $228.8 | $227.0 | $1.8 | 0.8% |
| EMEA | $148.9 | $148.9 | ($0.0) | (0%) |
| Asia Pacific | $58.9 | $54.2 | $4.7 | 8.7% |
| Rest of World | $21.0 | $23.9 | ($2.9) | (12.2%) |
| Total | $1,050.6 | $1,168.1 | ($117.5) | (10.1%) |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $291.8 | |
| Cost of Sales | $84.6 | 29% |
| R & D | $144.3 | 49.4% |
| Selling and Admin | $21.8 | 7.5% |
| Other | $39.5 | 13.5% |
| Net Earnings | $1.7 | 0.6% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist.
NuVasive reported 4Q20 orthopedic revenue of USD $291.8 million, -6% vs. 4Q19 with full-year 2020 revenue of $1 billion, -10.1% vs. 2019. The company enjoyed relatively stable case volumes through mid-December, but COVID’s second wave brought significant disruption through year-end, particularly in the U.S. and Europe. NuVasive expects...
NuVasive reported 4Q20 orthopedic revenue of USD $291.8 million, -6% vs. 4Q19 with full-year 2020 revenue of $1 billion, -10.1% vs. 2019. The company enjoyed relatively stable case volumes through mid-December, but COVID’s second wave brought significant disruption through year-end, particularly in the U.S. and Europe. NuVasive expects volumes to improve through 1H21, but to remain below 2019 levels for the first half.
In the fourth quarter, the company unveiled its C360 portfolio focused on the estimated $2.6 billion cervical spine market. C360 is a procedurally integrated portfolio for anterior and posterior cervical spine surgery. The portfolio got a crucial new component with NuVasive’s early-2021 acquisition of Simplify Medical and its artificial cervical disc. NuVasive doesn’t expect revenue from Simplify until 2022, but believes the acquisition has $250 million to $300 million of revenue upside.
The company’s integrated technology platform, Pulse, will also begin generating meaningful revenue in 2022. NuVasive remains on track for a global launch in summer 2021, with the first cases most likely occurring in Europe. At launch, the system will include 3D navigation, intraoperative neuromonitoring, the Bendini rod bending application as well as integration with leading 3D-imaging technologies. Upgrades made to the system in 2020 allowed NuVasive to expand Pulse’s launch capabilities with the proprietary LessRay application. The company’s aim is for Pulse to be useful in 100% of spine surgeries, thereby quickly driving adoption. The timeline for Pulse’s robotic component remains unchanged, with first in human cases scheduled for 2022.
“We thought the spine market pre-COVID was growing in the 0% to 2% range. I don’t think that’s necessarily changed. I think the COVID dynamic obviously slows the market down and had an impact in 2020 moving through this year. We consider ourselves a number three share position player in the market, slightly behind the few with our sites squarely set on changing that over the next year or so.” – NuVasive CEO Chris Barry
Revenue Data
All revenue data is provided in USD millions unless otherwise noted. Sales and growth rates are estimated on an as-reported basis.
Segment Sales
| 4Q20 | 4Q19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $253.2 | $267.7 | ($14.5) | (5.4%) |
| Trauma | $13.1 | $13.6 | ($0.5) | (3.8%) |
| Orthobiologics | $25.5 | $29.0 | ($3.5) | (12%) |
| Total | $291.8 | $310.4 | ($18.5) | (6%) |
| FY20 | FY19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $914.3 | $1,013.1 | ($98.8) | (9.8%) |
| Trauma | $45.7 | $48.8 | ($3.0) | (6.2%) |
| Orthobiologics | $90.5 | $106.2 | ($15.6) | (14.7%) |
| Total | $1,050.6 | $1,168.1 | ($117.5) | (10.1%) |
Geographic Sales
| 4Q20 | 4Q19 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $224.2 | $248.5 | ($24.2) | (9.8%) |
| OUS | $67.6 | $61.9 | $5.7 | 9.2% |
| EMEA | $43.9 | $41.0 | $2.9 | 7.1% |
| Asia Pacific | $17.6 | $14.1 | $3.5 | 24.8% |
| Rest of World | $6.1 | $6.8 | ($0.7) | (10.6%) |
| Total | $291.8 | $310.4 | ($18.5) | (6%) |
| FY20 | FY19 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $821.8 | $941.1 | ($119.3) | (12.7%) |
| OUS | $228.8 | $227.0 | $1.8 | 0.8% |
| EMEA | $148.9 | $148.9 | ($0.0) | (0%) |
| Asia Pacific | $58.9 | $54.2 | $4.7 | 8.7% |
| Rest of World | $21.0 | $23.9 | ($2.9) | (12.2%) |
| Total | $1,050.6 | $1,168.1 | ($117.5) | (10.1%) |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $291.8 | |
| Cost of Sales | $84.6 | 29% |
| R & D | $144.3 | 49.4% |
| Selling and Admin | $21.8 | 7.5% |
| Other | $39.5 | 13.5% |
| Net Earnings | $1.7 | 0.6% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist.
You are out of free articles for this month
Subscribe as a Guest for $0 and unlock a total of 5 articles per month.
You are out of five articles for this month
Subscribe as an Executive Member for access to unlimited articles, THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT and more.
ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
