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NuVasive reported 3Q19 revenue of USD $290.8MM, +7.2% vs. 3Q18.
- NuVasive projects 2019 full year revenue of $1.16 billion, the high end of their guidance range; the company expects their spinal hardware segment to grow between 6% and 7%, while surgical support is expected to grow between 0% and 2%
- Growth driven primarily by strong organic growth in U.S. spinal hardware attributable to focused commercial execution and continued traction with new products
- Case volume grew 10.6% over the prior year due to continued stability in the U.S. spine market, with leadership estimating overall market growth of 2% in the quarter vs. 1% in 3Q18
- Price pressure for the quarter was -2.1%
- NuVasive’s XLIF and ALIF franchises performed well, driven by the adoption of the X360 lateral single position procedure
- The quarter brought continued momentum for advanced materials science products, including Modulus XLIF, TLIF-A / TLIF-O and Cohere XLIF
- Surgical set availability in APAC and Latin America continued to be a headwind from 2Q19, but was offset by continued strong performance in the EMEA region
- Biologics declined vs. the prior year, as price pressure and timing of bulk orders outweighed increased volumes; leadership remains confident the business will return to growth in 4Q19; increasing momentum with DBMs and AttraX synthetic biologics are mitigating declines in Osteocel products
- Capital equipment revenue was “nominal,” per company expectations in the traditionally soft third quarter; NuVasive has collected signed purchase orders for Pulse systems, but is holding off on delivery and installation while it continues to evaluate surgeon feedback
- Leadership does not anticipate revenue impact from Pulse until 2020; the system received CE Mark approval in October 2019, and hospitals in Italy, Germany and the Netherlands are ready to begin evaluations
- The company will commence a limited launch of its new anterior cervical plate in late 4Q19
- Beginning January 1, 2020 the company will implement a new organizational structure that combines customer-facing and innovation activities under the direction of current President Matt Link, while operational functions will be headed by Dale Wolf, current head of manufacturing
- ORTHOWORLD projects NuVasive full year 2019 revenue of $1,165.7MM, +5.8% vs. 2018
“The uniqueness of our system is truly the integrated application that is all of Pulse. Not only having a robotic application, but having the navigation, 2D imaging, 3D imaging and interoperative monitoring system. It provides full utilization across a much broader spine procedural base.” – NuVasive CEO Chris Barry on the differentiating features of Pulse
ORTHOWORLD estimates segment sales and growth on an as-reported basis, as follows ($MM).
| 3Q19 | 3Q18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $255.4 | $235.8 | $19.5 | 8.3% |
| Trauma | $9.8 | $9.6 | $0.2 | 2.6% |
| Orthobiologics | $25.7 | $25.9 | ($0.2) | (0.9%) |
| Total | $290.8 | $271.3 | $19.5 | 7.2% |
| 9Mo 19 | 9Mo 18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $753.9 | $708.4 | $45.5 | 6.4% |
| Trauma | $29.1 | $28.2 | $0.9 | 3.2% |
| Orthobiologics | $74.7 | $76.8 | ($2.1) | (2.7%) |
| Total | $857.7 | $813.4 | $44.3 | 5.4% |
ORTHOWORLD estimates orthopedic sales by geographic region as follows ($MM).
| Geographic Region | 3Q19 | 3Q18 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $233.7 | $221.3 | $12.4 | 5.6% |
| Ex-US | $57.2 | $50.0 | $7.2 | 14.4% |
| EMEA | $46.9 | $40.0 | $6.9 | 17.4% |
| Asia Pacific | $5.1 | $5.0 | $0.1 | 2.9% |
| Rest of World | $5.1 | $5.0 | $0.1 | 1.8% |
| Total | $290.8 | $271.3 | $19.5 | 7.2% |
Net earnings are as follows ($MM).
| Amt | % of Sales | |
|---|---|---|
| Sales | $290.8 | |
| Cost of Sales | ($77.0) | 26.5% |
| R & D | ($18.1) | 6.2% |
| Selling and Admin | ($152.9) | 52.6% |
| Other | ($31.8) | 10.9% |
| Net Earnings | $11.0 | 3.8% |
Mike Evers is ORTHOWORLD’s Market Analyst. He can be reached by email.
NuVasive reported 3Q19 revenue of USD $290.8MM, +7.2% vs. 3Q18.
NuVasive projects 2019 full year revenue of $1.16 billion, the high end of their guidance range; the company expects their spinal hardware segment to grow between 6% and 7%, while surgical support is expected to grow between 0% and 2%
Growth driven primarily by strong...
NuVasive reported 3Q19 revenue of USD $290.8MM, +7.2% vs. 3Q18.
- NuVasive projects 2019 full year revenue of $1.16 billion, the high end of their guidance range; the company expects their spinal hardware segment to grow between 6% and 7%, while surgical support is expected to grow between 0% and 2%
- Growth driven primarily by strong organic growth in U.S. spinal hardware attributable to focused commercial execution and continued traction with new products
- Case volume grew 10.6% over the prior year due to continued stability in the U.S. spine market, with leadership estimating overall market growth of 2% in the quarter vs. 1% in 3Q18
- Price pressure for the quarter was -2.1%
- NuVasive’s XLIF and ALIF franchises performed well, driven by the adoption of the X360 lateral single position procedure
- The quarter brought continued momentum for advanced materials science products, including Modulus XLIF, TLIF-A / TLIF-O and Cohere XLIF
- Surgical set availability in APAC and Latin America continued to be a headwind from 2Q19, but was offset by continued strong performance in the EMEA region
- Biologics declined vs. the prior year, as price pressure and timing of bulk orders outweighed increased volumes; leadership remains confident the business will return to growth in 4Q19; increasing momentum with DBMs and AttraX synthetic biologics are mitigating declines in Osteocel products
- Capital equipment revenue was “nominal,” per company expectations in the traditionally soft third quarter; NuVasive has collected signed purchase orders for Pulse systems, but is holding off on delivery and installation while it continues to evaluate surgeon feedback
- Leadership does not anticipate revenue impact from Pulse until 2020; the system received CE Mark approval in October 2019, and hospitals in Italy, Germany and the Netherlands are ready to begin evaluations
- The company will commence a limited launch of its new anterior cervical plate in late 4Q19
- Beginning January 1, 2020 the company will implement a new organizational structure that combines customer-facing and innovation activities under the direction of current President Matt Link, while operational functions will be headed by Dale Wolf, current head of manufacturing
- ORTHOWORLD projects NuVasive full year 2019 revenue of $1,165.7MM, +5.8% vs. 2018
“The uniqueness of our system is truly the integrated application that is all of Pulse. Not only having a robotic application, but having the navigation, 2D imaging, 3D imaging and interoperative monitoring system. It provides full utilization across a much broader spine procedural base.” – NuVasive CEO Chris Barry on the differentiating features of Pulse
ORTHOWORLD estimates segment sales and growth on an as-reported basis, as follows ($MM).
| 3Q19 | 3Q18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $255.4 | $235.8 | $19.5 | 8.3% |
| Trauma | $9.8 | $9.6 | $0.2 | 2.6% |
| Orthobiologics | $25.7 | $25.9 | ($0.2) | (0.9%) |
| Total | $290.8 | $271.3 | $19.5 | 7.2% |
| 9Mo 19 | 9Mo 18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $753.9 | $708.4 | $45.5 | 6.4% |
| Trauma | $29.1 | $28.2 | $0.9 | 3.2% |
| Orthobiologics | $74.7 | $76.8 | ($2.1) | (2.7%) |
| Total | $857.7 | $813.4 | $44.3 | 5.4% |
ORTHOWORLD estimates orthopedic sales by geographic region as follows ($MM).
| Geographic Region | 3Q19 | 3Q18 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $233.7 | $221.3 | $12.4 | 5.6% |
| Ex-US | $57.2 | $50.0 | $7.2 | 14.4% |
| EMEA | $46.9 | $40.0 | $6.9 | 17.4% |
| Asia Pacific | $5.1 | $5.0 | $0.1 | 2.9% |
| Rest of World | $5.1 | $5.0 | $0.1 | 1.8% |
| Total | $290.8 | $271.3 | $19.5 | 7.2% |
Net earnings are as follows ($MM).
| Amt | % of Sales | |
|---|---|---|
| Sales | $290.8 | |
| Cost of Sales | ($77.0) | 26.5% |
| R & D | ($18.1) | 6.2% |
| Selling and Admin | ($152.9) | 52.6% |
| Other | ($31.8) | 10.9% |
| Net Earnings | $11.0 | 3.8% |
Mike Evers is ORTHOWORLD’s Market Analyst. 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.
