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NuVasive reported 4Q19 orthopedic revenue of USD $310.4 million, +7.6% vs. 4Q18, with full-year 2019 revenue of $1,168.1 million, +6% vs. 2018. The company launched 16 new products during the year and intends to follow up with more than a dozen in 2020.
NuVasive continues to drive the adoption of MIS, especially through its X360 lateral single-position surgical approach that the company estimates saved 3,500 operating room hours equating to $14 million in cost savings. In the fourth quarter, NuVasive’s biologics business returned to growth and leadership expects that segment to increase in the low single digits for 2020. The biggest news of the quarter, however, is the delayed introduction of Pulse. NuVasive decided to extend the beta testing period for the system, and launch is now scheduled for 2021. The robotic module for Pulse will not be impacted, as it is developed in parallel with the overall Pulse system. The company provided 2020 guidance of growth in the range of 4% to 6%.
“We acknowledge the enthusiasm in the market for robotics. I think you have to be measured and take a step back to assess current capabilities and the desired future state. We’ve said all along with Pulse, the roadmap is building a platform and applications that have broad clinical utility. If you look at the market today, there’s still relatively light utilization with respect to the number of cases and the percent of the cases that a robot can participate in.” – Matt Link, NuVasive President
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
| 4Q19 | 4Q18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $267.7 | $247.2 | $20.5 | 8.3% |
| Trauma | $13.6 | $13.5 | $0.2 | 1.4% |
| Orthobiologics | $29.0 | $27.6 | $1.4 | 5% |
| Total | $310.4 | $288.3 | $22.0 | 7.6% |
| FY 19 | FY 18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $1,013.1 | $948.0 | $65.1 | 6.9% |
| Trauma | $48.8 | $46.5 | $2.3 | 4.9% |
| Orthobiologics | $106.2 | $107.2 | ($1.0) | (1%) |
| Total | $1,168.1 | $1,101.7 | $66.4 | 6% |
Geographic Sales
| Geographic Region | 4Q19 | 4Q18 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $249.4 | $235.2 | $14.2 | 6% |
| Ex-US | $61.0 | $53.1 | $7.9 | 14.8% |
| EMEA | $50.1 | $42.5 | $7.6 | 17.8% |
| Asia Pacific | $5.5 | $5.3 | $0.2 | 3.3% |
| Rest of World | $5.4 | $5.3 | $0.1 | 2.2% |
| Total | $310.4 | $288.3 | $22.0 | 7.6% |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $310.4 | |
| Cost of Sales | ($63.2) | 20.4% |
| R & D | ($19.1) | 6.2% |
| Selling and Admin | ($160.4) | 51.7% |
| Other | ($37.8) | 12.2% |
| Net Earnings | $29.9 | 9.6% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
NuVasive reported 4Q19 orthopedic revenue of USD $310.4 million, +7.6% vs. 4Q18, with full-year 2019 revenue of $1,168.1 million, +6% vs. 2018. The company launched 16 new products during the year and intends to follow up with more than a dozen in 2020.
NuVasive continues to drive the adoption of MIS, especially through its X360...
NuVasive reported 4Q19 orthopedic revenue of USD $310.4 million, +7.6% vs. 4Q18, with full-year 2019 revenue of $1,168.1 million, +6% vs. 2018. The company launched 16 new products during the year and intends to follow up with more than a dozen in 2020.
NuVasive continues to drive the adoption of MIS, especially through its X360 lateral single-position surgical approach that the company estimates saved 3,500 operating room hours equating to $14 million in cost savings. In the fourth quarter, NuVasive’s biologics business returned to growth and leadership expects that segment to increase in the low single digits for 2020. The biggest news of the quarter, however, is the delayed introduction of Pulse. NuVasive decided to extend the beta testing period for the system, and launch is now scheduled for 2021. The robotic module for Pulse will not be impacted, as it is developed in parallel with the overall Pulse system. The company provided 2020 guidance of growth in the range of 4% to 6%.
“We acknowledge the enthusiasm in the market for robotics. I think you have to be measured and take a step back to assess current capabilities and the desired future state. We’ve said all along with Pulse, the roadmap is building a platform and applications that have broad clinical utility. If you look at the market today, there’s still relatively light utilization with respect to the number of cases and the percent of the cases that a robot can participate in.” – Matt Link, NuVasive President
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
| 4Q19 | 4Q18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $267.7 | $247.2 | $20.5 | 8.3% |
| Trauma | $13.6 | $13.5 | $0.2 | 1.4% |
| Orthobiologics | $29.0 | $27.6 | $1.4 | 5% |
| Total | $310.4 | $288.3 | $22.0 | 7.6% |
| FY 19 | FY 18 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $1,013.1 | $948.0 | $65.1 | 6.9% |
| Trauma | $48.8 | $46.5 | $2.3 | 4.9% |
| Orthobiologics | $106.2 | $107.2 | ($1.0) | (1%) |
| Total | $1,168.1 | $1,101.7 | $66.4 | 6% |
Geographic Sales
| Geographic Region | 4Q19 | 4Q18 | $ Chg | % Chg |
|---|---|---|---|---|
| US | $249.4 | $235.2 | $14.2 | 6% |
| Ex-US | $61.0 | $53.1 | $7.9 | 14.8% |
| EMEA | $50.1 | $42.5 | $7.6 | 17.8% |
| Asia Pacific | $5.5 | $5.3 | $0.2 | 3.3% |
| Rest of World | $5.4 | $5.3 | $0.1 | 2.2% |
| Total | $310.4 | $288.3 | $22.0 | 7.6% |
Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $310.4 | |
| Cost of Sales | ($63.2) | 20.4% |
| R & D | ($19.1) | 6.2% |
| Selling and Admin | ($160.4) | 51.7% |
| Other | ($37.8) | 12.2% |
| Net Earnings | $29.9 | 9.6% |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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Mike Evers Mike Evers is an 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.
