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NuVasive reported 2Q21 orthopedic revenue of USD $294.8 million, +44.8% vs. 2Q20. Compared to the second quarter of 2019, the company grew +0.9% with moderate U.S. sales declines offset by improved international performance. For the full year 2021, NuVasive expects revenue between $1.19 billion and $1.21 billion. At the mid-point, that represents growth of +14.2% vs. 2020 and +2.7% vs. 2019. The company expects $5 million contributions each from Pulse and the Simplify Disc in 2021.
Second quarter results were primarily driven by demand for NuVasive’s Advanced Materials Science products through each procedural segment. ALIF procedures drove thoracolumbar segment growth, while the company’s C360 portfolio continued to gain traction in cervical.
NuVasive remains very bullish on the prospects for its upcoming commercialization of the Pulse platform. The company recently completed a cadaveric study comparing screw placement with Pulse’s navigation vs. traditional fluoroscopy. Pulse placed screws 40% faster with significantly more accurate group placement and safety. Screw placement using fluoroscopy resulted in 14 times more radiation exposure to the surgeon. NuVasive believes Pulse can disrupt the spine market and its industry-leading surgeon education can help speed adoption.
“On the $2.6 billion segment, I would say our portfolio is fully equipped now to go completely after that market. We have the full instrumentation set. We have the implantables. We have the posterior fixation. And now we have the total disc replacement with the Simplify disc that we believe fully equips us to take full advantage of that market opportunity.” – 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
| 2Q21 | 2Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $255.9 | $177.3 | $78.7 | 44.4% |
| Trauma | $13.5 | $9.3 | $4.2 | 44.8% |
| Orthobiologics | $25.4 | $17.0 | $8.4 | 49.2% |
| Total | $294.8 | $203.6 | $91.2 | 44.8% |
| 1H21 | 1H20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $493.8 | $403.7 | $90.1 | 22.3% |
| Trauma | $23.9 | $19.3 | $4.6 | 23.7% |
| Orthobiologics | $48.4 | $40.5 | $7.9 | 19.6% |
| Total | $566.1 | $463.5 | $102.6 | 22.1% |
Geographic Sales
| 2Q21 | 2Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $229.5 | $161.5 | $68.1 | 42.2% |
| OUS | $65.3 | $42.2 | $23.2 | 54.9% |
| EMEA | $42.4 | $26.1 | $16.3 | 62.4% |
| Asia Pacific | $17.0 | $12.6 | $4.3 | 34.3% |
| Rest of World | $5.9 | $3.4 | $2.5 | 74.3% |
| Total | $294.8 | $203.6 | $91.2 | 44.8% |
| 1H21 | 1H20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $437.6 | $365.5 | $72.1 | 19.7% |
| OUS | $128.5 | $98.0 | $30.5 | 31.1% |
| EMEA | $83.5 | $63.6 | $19.9 | 31.4% |
| Asia Pacific | $33.4 | $24.9 | $8.5 | 34% |
| Rest of World | $11.6 | $9.5 | $2.0 | 21.5% |
| Total | $566.1 | $463.5 | $102.6 | 22.1% |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $294.8 | |
| Cost of Sales | $78.3 | 26.6% |
| R & D | $157.4 | 53.4% |
| Selling and Admin | $21.8 | 7.4% |
| Other | $35.6 | 12.1% |
| Net Earnings | $1.8 | 0.6% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
NuVasive reported 2Q21 orthopedic revenue of USD $294.8 million, +44.8% vs. 2Q20. Compared to the second quarter of 2019, the company grew +0.9% with moderate U.S. sales declines offset by improved international performance. For the full year 2021, NuVasive expects revenue between $1.19 billion and $1.21 billion. At the mid-point, that...
NuVasive reported 2Q21 orthopedic revenue of USD $294.8 million, +44.8% vs. 2Q20. Compared to the second quarter of 2019, the company grew +0.9% with moderate U.S. sales declines offset by improved international performance. For the full year 2021, NuVasive expects revenue between $1.19 billion and $1.21 billion. At the mid-point, that represents growth of +14.2% vs. 2020 and +2.7% vs. 2019. The company expects $5 million contributions each from Pulse and the Simplify Disc in 2021.
Second quarter results were primarily driven by demand for NuVasive’s Advanced Materials Science products through each procedural segment. ALIF procedures drove thoracolumbar segment growth, while the company’s C360 portfolio continued to gain traction in cervical.
NuVasive remains very bullish on the prospects for its upcoming commercialization of the Pulse platform. The company recently completed a cadaveric study comparing screw placement with Pulse’s navigation vs. traditional fluoroscopy. Pulse placed screws 40% faster with significantly more accurate group placement and safety. Screw placement using fluoroscopy resulted in 14 times more radiation exposure to the surgeon. NuVasive believes Pulse can disrupt the spine market and its industry-leading surgeon education can help speed adoption.
“On the $2.6 billion segment, I would say our portfolio is fully equipped now to go completely after that market. We have the full instrumentation set. We have the implantables. We have the posterior fixation. And now we have the total disc replacement with the Simplify disc that we believe fully equips us to take full advantage of that market opportunity.” – 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
| 2Q21 | 2Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $255.9 | $177.3 | $78.7 | 44.4% |
| Trauma | $13.5 | $9.3 | $4.2 | 44.8% |
| Orthobiologics | $25.4 | $17.0 | $8.4 | 49.2% |
| Total | $294.8 | $203.6 | $91.2 | 44.8% |
| 1H21 | 1H20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $493.8 | $403.7 | $90.1 | 22.3% |
| Trauma | $23.9 | $19.3 | $4.6 | 23.7% |
| Orthobiologics | $48.4 | $40.5 | $7.9 | 19.6% |
| Total | $566.1 | $463.5 | $102.6 | 22.1% |
Geographic Sales
| 2Q21 | 2Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $229.5 | $161.5 | $68.1 | 42.2% |
| OUS | $65.3 | $42.2 | $23.2 | 54.9% |
| EMEA | $42.4 | $26.1 | $16.3 | 62.4% |
| Asia Pacific | $17.0 | $12.6 | $4.3 | 34.3% |
| Rest of World | $5.9 | $3.4 | $2.5 | 74.3% |
| Total | $294.8 | $203.6 | $91.2 | 44.8% |
| 1H21 | 1H20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $437.6 | $365.5 | $72.1 | 19.7% |
| OUS | $128.5 | $98.0 | $30.5 | 31.1% |
| EMEA | $83.5 | $63.6 | $19.9 | 31.4% |
| Asia Pacific | $33.4 | $24.9 | $8.5 | 34% |
| Rest of World | $11.6 | $9.5 | $2.0 | 21.5% |
| Total | $566.1 | $463.5 | $102.6 | 22.1% |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $294.8 | |
| Cost of Sales | $78.3 | 26.6% |
| R & D | $157.4 | 53.4% |
| Selling and Admin | $21.8 | 7.4% |
| Other | $35.6 | 12.1% |
| Net Earnings | $1.8 | 0.6% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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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.
