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NuVasive reported 1Q17 revenue of US $249.9MM, +16.2% vs. 1Q16. (U.S. $214.2MM, +13.7%; ex-U.S. $35.6MM, +33.3%)
| 1Q17 | 1Q16 | $ Change | % Change | |
| Spine | $209.4 | $179.1 | $30.4 | 17.0% |
| Trauma | $7.6 | $3.2 | $4.4 | 136.0% |
| Orthobiologics | $32.9 | $32.8 | $0.0 | 0.1% |
| Total | $249.9 | $215.1 | $34.8 | 16.2% |
1Q17 performance highlights:
- Revenue growth supported by above-market performance in all ex-U.S. regions, Integrated Global Alignment (iGA) platform (which in turn drives growth for Archon plate, VuePoint II fixation), Biotronic acquisition; continuing to gain share with NuVasive Specialized Orthopedics (NSO’s MAGEC and PRECICE—the latter experiencing rapid growth, as reflected by ORTHOWORLD’s estimates for trauma revenue)
- Hardware growth buoyed by continued adoption of MIS spinal procedures/procedure volume increase
- Price pressure in orthobiologics at about -3%
- Revenue from 2016 acquisitions accounted for ~5% of increase in spinal hardware revenue
- Asia Pacific benefited from 1Q17 reintroduction of XLIF to Japan
- Latin America returned to meaningful growth on increased volumes in Brazil
- Continuing to build up pediatric salesforce
- In 1Q and 2Q, launched MLX and TLX expandable lumbar interbody fusion devices, alpha-launched UNYTE (the ex-fix market disruptor, expecting full launch in 2H17), RELINE spinal trauma system, alpha-launched Modulus XLIF fully porous titanium implant, built with additive manufacturing
- After quarter’s close, acquired sales agent for NSO in France and Germany—now selling direct there
- 2017 growth will primarily derive from share gains in the shift toward MIS, as well as new products/services and ex-U.S. growth; orthobiologics revenue expected to be relatively flat year over year
- Manufacturing update: in 1Q, doubled output in West Carrolton, Ohio facility from 4Q16, producing >80,000 pieces; exited 2016 at ~40% of potential production, expecting to be at ~60% by end of 2017 and 100% by end of 2018
- Corporate development pipeline includes strategic investments, acquisitions, partnerships focusing on geographic expansion, clinically-differentiated surgical tools, imaging, navigation
Source: NuVasive, Inc.; ORTHOWORLD estimates
NuVasive reported 1Q17 revenue of US $249.9MM, +16.2% vs. 1Q16. (U.S. $214.2MM, +13.7%; ex-U.S. $35.6MM, +33.3%)
Q17
Q16
$ Change
% Change
Spine
$209.4
$179.1
$30.4 ...
NuVasive reported 1Q17 revenue of US $249.9MM, +16.2% vs. 1Q16. (U.S. $214.2MM, +13.7%; ex-U.S. $35.6MM, +33.3%)
| 1Q17 | 1Q16 | $ Change | % Change | |
| Spine | $209.4 | $179.1 | $30.4 | 17.0% |
| Trauma | $7.6 | $3.2 | $4.4 | 136.0% |
| Orthobiologics | $32.9 | $32.8 | $0.0 | 0.1% |
| Total | $249.9 | $215.1 | $34.8 | 16.2% |
1Q17 performance highlights:
- Revenue growth supported by above-market performance in all ex-U.S. regions, Integrated Global Alignment (iGA) platform (which in turn drives growth for Archon plate, VuePoint II fixation), Biotronic acquisition; continuing to gain share with NuVasive Specialized Orthopedics (NSO’s MAGEC and PRECICE—the latter experiencing rapid growth, as reflected by ORTHOWORLD’s estimates for trauma revenue)
- Hardware growth buoyed by continued adoption of MIS spinal procedures/procedure volume increase
- Price pressure in orthobiologics at about -3%
- Revenue from 2016 acquisitions accounted for ~5% of increase in spinal hardware revenue
- Asia Pacific benefited from 1Q17 reintroduction of XLIF to Japan
- Latin America returned to meaningful growth on increased volumes in Brazil
- Continuing to build up pediatric salesforce
- In 1Q and 2Q, launched MLX and TLX expandable lumbar interbody fusion devices, alpha-launched UNYTE (the ex-fix market disruptor, expecting full launch in 2H17), RELINE spinal trauma system, alpha-launched Modulus XLIF fully porous titanium implant, built with additive manufacturing
- After quarter’s close, acquired sales agent for NSO in France and Germany—now selling direct there
- 2017 growth will primarily derive from share gains in the shift toward MIS, as well as new products/services and ex-U.S. growth; orthobiologics revenue expected to be relatively flat year over year
- Manufacturing update: in 1Q, doubled output in West Carrolton, Ohio facility from 4Q16, producing >80,000 pieces; exited 2016 at ~40% of potential production, expecting to be at ~60% by end of 2017 and 100% by end of 2018
- Corporate development pipeline includes strategic investments, acquisitions, partnerships focusing on geographic expansion, clinically-differentiated surgical tools, imaging, navigation
Source: 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.
