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NuVasive reported 3Q21 orthopedic sales of $270.8 million, -8.3% vs. 3Q21 and -6.9% vs. 3Q19. Due to the impact of COVID and hospital staffing shortages on the remainder of the year, the company lowered its 2021 sales guidance to the range of $1.132 billion to $1.142 billion, representing a growth mid-point of +8.2% over 2020.
NuVasive leadership said the quarter’s sales shortfall was equally attributable to orthopedic surgery deferrals due to COVID and supply issues in its international NuVasive Specialized Orthopedics (NSO) products. Earlier in the year, the company announced a temporary CE certification suspension for its MAGEC and Precice systems. NuVasive also voluntarily issued a worldwide shipping hold for countries not requiring CE certification. The company described the outsized impact of NSO on the third quarter as “an acute situation” that will not have a material impact on the fourth quarter.
Two products that will help NuVasive protect and grow share brought good news in the third quarter. The Simplify Disc remains on track for a $5 million sales contribution this year and helped the company’s cervical portfolio grow +13.5% in the quarter. Pulse, the company’s software ecosystem and extensible hardware platform, launched in the third quarter and is on track to contribute $5 million in sales for 2020, with the “lion share” of that coming in the fourth quarter. The robotic component of Pulse is still slated for a late-2022 launch with meaningful sales coming in 2023.
“Historically, as you know, NUVA was primarily a one-procedure company. With the broader portfolio strategy and then making some clear enhancements to our lateral business, I think we’re very well-positioned to defend and grow our share going forward. But clearly, those two strategies, both enhancing our anterior and minimally invasive segment portfolio and playing more broadly, are both essential for us to continue to not only protect our business but grow business broadly.” – NuVasive CEO Chris Barry
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 3Q21 | 3Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $235.4 | $257.5 | ($22.1) | (8.6%) |
| Trauma | $12.5 | $13.3 | ($0.8) | (6%) |
| Orthobiologics | $23.0 | $24.5 | ($1.6) | (6.4%) |
| Total | $270.8 | $295.3 | ($24.4) | (8.3%) |
| 9m21 | 9m20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $729.2 | $661.2 | $68.0 | 10.3% |
| Trauma | $36.4 | $32.6 | $3.8 | 11.6% |
| Orthobiologics | $71.4 | $65.0 | $6.4 | 9.8% |
| Total | $836.9 | $758.8 | $78.1 | 10.3% |
Orthopedic Sales by Geography
| 3Q21 | 3Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $207.2 | $232.1 | ($24.9) | (10.7%) |
| OUS | $63.6 | $63.2 | $0.4 | 0.7% |
| EMEA | $41.7 | $41.4 | $0.3 | 0.7% |
| Asia Pacific | $16.9 | $16.4 | $0.4 | 2.6% |
| Rest of World | $5.1 | $5.4 | ($0.3) | (5.2%) |
| Total | $270.8 | $295.3 | ($24.4) | (8.3%) |
| 9m21 | 9m20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $644.8 | $597.6 | $47.2 | 7.9% |
| OUS | $192.1 | $161.2 | $30.9 | 19.2% |
| EMEA | $125.2 | $104.9 | $20.2 | 19.3% |
| Asia Pacific | $50.3 | $41.4 | $8.9 | 21.5% |
| Rest of World | $16.6 | $14.9 | $1.8 | 11.9% |
| Total | $836.9 | $758.8 | $78.1 | 10.3% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $270.8 | |
| Cost of Sales | $88.7 | 32.7% |
| R & D | $146.1 | 53.9% |
| Selling and Admin | $23.4 | 8.6% |
| Other | $34.4 | 12.7% |
| Net Earnings | ($21.6) | (8%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
NuVasive reported 3Q21 orthopedic sales of $270.8 million, -8.3% vs. 3Q21 and -6.9% vs. 3Q19. Due to the impact of COVID and hospital staffing shortages on the remainder of the year, the company lowered its 2021 sales guidance to the range of $1.132 billion to $1.142 billion, representing a growth mid-point of +8.2% over 2020.
NuVasive...
NuVasive reported 3Q21 orthopedic sales of $270.8 million, -8.3% vs. 3Q21 and -6.9% vs. 3Q19. Due to the impact of COVID and hospital staffing shortages on the remainder of the year, the company lowered its 2021 sales guidance to the range of $1.132 billion to $1.142 billion, representing a growth mid-point of +8.2% over 2020.
NuVasive leadership said the quarter’s sales shortfall was equally attributable to orthopedic surgery deferrals due to COVID and supply issues in its international NuVasive Specialized Orthopedics (NSO) products. Earlier in the year, the company announced a temporary CE certification suspension for its MAGEC and Precice systems. NuVasive also voluntarily issued a worldwide shipping hold for countries not requiring CE certification. The company described the outsized impact of NSO on the third quarter as “an acute situation” that will not have a material impact on the fourth quarter.
Two products that will help NuVasive protect and grow share brought good news in the third quarter. The Simplify Disc remains on track for a $5 million sales contribution this year and helped the company’s cervical portfolio grow +13.5% in the quarter. Pulse, the company’s software ecosystem and extensible hardware platform, launched in the third quarter and is on track to contribute $5 million in sales for 2020, with the “lion share” of that coming in the fourth quarter. The robotic component of Pulse is still slated for a late-2022 launch with meaningful sales coming in 2023.
“Historically, as you know, NUVA was primarily a one-procedure company. With the broader portfolio strategy and then making some clear enhancements to our lateral business, I think we’re very well-positioned to defend and grow our share going forward. But clearly, those two strategies, both enhancing our anterior and minimally invasive segment portfolio and playing more broadly, are both essential for us to continue to not only protect our business but grow business broadly.” – NuVasive CEO Chris Barry
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 3Q21 | 3Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $235.4 | $257.5 | ($22.1) | (8.6%) |
| Trauma | $12.5 | $13.3 | ($0.8) | (6%) |
| Orthobiologics | $23.0 | $24.5 | ($1.6) | (6.4%) |
| Total | $270.8 | $295.3 | ($24.4) | (8.3%) |
| 9m21 | 9m20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Spine | $729.2 | $661.2 | $68.0 | 10.3% |
| Trauma | $36.4 | $32.6 | $3.8 | 11.6% |
| Orthobiologics | $71.4 | $65.0 | $6.4 | 9.8% |
| Total | $836.9 | $758.8 | $78.1 | 10.3% |
Orthopedic Sales by Geography
| 3Q21 | 3Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $207.2 | $232.1 | ($24.9) | (10.7%) |
| OUS | $63.6 | $63.2 | $0.4 | 0.7% |
| EMEA | $41.7 | $41.4 | $0.3 | 0.7% |
| Asia Pacific | $16.9 | $16.4 | $0.4 | 2.6% |
| Rest of World | $5.1 | $5.4 | ($0.3) | (5.2%) |
| Total | $270.8 | $295.3 | ($24.4) | (8.3%) |
| 9m21 | 9m20 | $ Chg | % Chg | |
|---|---|---|---|---|
| US | $644.8 | $597.6 | $47.2 | 7.9% |
| OUS | $192.1 | $161.2 | $30.9 | 19.2% |
| EMEA | $125.2 | $104.9 | $20.2 | 19.3% |
| Asia Pacific | $50.3 | $41.4 | $8.9 | 21.5% |
| Rest of World | $16.6 | $14.9 | $1.8 | 11.9% |
| Total | $836.9 | $758.8 | $78.1 | 10.3% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $270.8 | |
| Cost of Sales | $88.7 | 32.7% |
| R & D | $146.1 | 53.9% |
| Selling and Admin | $23.4 | 8.6% |
| Other | $34.4 | 12.7% |
| Net Earnings | ($21.6) | (8%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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ME
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.
